In a year our company multiplied our income ten fold.
How’s that for a happy opening sentence?
We are a small company and that is why we were able to do that. As our revenue went up, so did our expenses. In the beginning I had very small capital and operating expenses and planned the budget on a monthly basis. Now I must plan on a yearly basis as well. Now we need to refine the model and project costs so that we can make decisions for a sound future fiscally.
These financial processes that occur yearly impact many decisions made on the monthly and sometimes weekly basis, impacting processes. Whatever the case may be, strategic planning and execution need to be done on a yearly basis if not on a semi-annual basis. We’re an agile, lean, and small company. I review and modify strategy on a quarterly basis to make sure were competitive.
Not even a month has passed and the initial strategy of FOCUS remains strong, but we have created six-month goals that we will review monthly if not weekly.
Products & Services
At the beginning of the year, I reviewed our client base and saw that we catered to three types of clients.
- CIO/CTO – Retainer Engagement
- CIO/CTO – Emergency Engagement
- Presence & Strategy Projects
We decided to focus our resources and strengthen what we did well and focus on them. This meant keeping clients happy.
Sales & Marketing
We noticed that we found most of our clients through client referrals and personal contacts.
We changed our strategy to meet people and tell them what we do.
Everything else was to support the act of meeting people for face to
Operations & Infrastructure
We know that without our team we cannot deliver. We invested resources to make out operations more efficient and create curriculums to cultivate future Internet Architects and Internet Strategists.
Research & Development
We plan to release Appleseed 1.0 , Mindful 1.0 and if possible Asitchanges 2.0
Finance & Accounting
We are planning another unprecedented year of growth which is stronger fiscally across all Key Performance Indicators.
Now that our six-month plan is laid out, it takes a lot of work to execute the plan. Everyone in the company needs to know where we are headed and how the six-month and year long strategy affects them and how they in turn affect the strategy. After we’ve communicated the plans across different media, we have to go back and review to see if people truly understand what they are going for. If they have incentives, they’ll pick up on it quicker.
A year is a long time. You must look back at the last year and see how progress came. After knowing your capabilities, you can decide on what to do the next year. I outlined a simple process of creating priorities and reviewing them each month. Yearly processes may have different steps at different months or quarters. Regardless of what the process is, people need to know about it and have a reason to support it.
Question of the Day:
How do you measure your successes and failures on an annual basis, as an organization and as an individual? Is there any difference in how you measure annual success for an organization and for an individual?