HomeHome SearchSearch MenuMenu Our productsOur products

Four things you must consider when planning your company's future financial goals

by , 09 September 2014
The point of your financial planning is to create a road map to achieve your financial goals. Without these goals and a plan to reach them, your company will flounder with no direction.

But you can't just guess your goals. If they're unrealistic, it's as detrimental as not having any goals at all.

That's why you need to be careful during your financial planning and consider all the factors involved...

 

When you do your financial planning, consider these four factors

 
Factor #1: The demand in the industry you're in
If you're in an industry with a lot of demand, such as healthy food stores, which are very popular at the moment, you'll experience fast growth.
 
Factor #2: Is this industry a fad industry or is it sustainable 
If there's a high demand for your product because it's a current fad, your rate of growth isn't sustainable. Eventually, the trendy element will wear off and you'll experience a growth slump.
 
*********** Best seller  *************
 
Three accounting record risk areas to watch out for
 
 
*********************************
 
Factor #3: The general economic climate you're in
If the economic climate is very unstable or in a recession it means growth is very difficult. Your company may take a very long time to reach its goals if the economy is tight and people don't have money for your product or service.
 
Factor #4: Your company's current financial position
You need to consider the gap between where you are now and where you want your company to be. The bigger the gap, the longer it'll take you to reach your goals.
 
You need to be realistic about your goals to achieve them in the timeframe you want. Considering these four factors will help you create realistic goals.

Find out how to analyse your financial statements and identify errors and be 100% up-to-date on new and updated accounting and reporting standards.

 


Related articles




Related articles



Related Products



Comments
0 comments


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance



Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today



Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism



This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands



Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>