MB+M Director Adrienne shares her insights on the critical questions every business owner should ask to create a thriving and sustainable year ahead.

As the new year begins, it’s the perfect time to reflect on your business journey so far and set the stage for future success.

Reflect on the Past to Shape the Future

A new year is like a blank canvas, offering a fresh start and endless possibilities. But before you dive into the year ahead, take a moment to look back. Ask yourself:

• What worked well last year?
• What didn’t go as planned, and why?
• What adjustments could you have made to improve those outcomes?

Reflection is a powerful tool. By identifying your wins and understanding your challenges, you can build on what works and avoid repeating what doesn’t.

Goal Setting: Turning Dreams into Reality

We highlighted that writing down your goals makes you 42% more likely to achieve them. So, grab your phone, laptop, or notebook—whatever works for you—and start putting your thoughts into words.

Here are a few prompts to help shape your goals:

• What do you want to achieve in the next 3, 6, or 12 months?
• Where do you envision your business in 5 years?
• What actionable steps can you take this year to move closer to that vision?

Whether it’s business expansion, hitting a profit target, or reducing costs, breaking down long-term goals into manageable milestones is key.

Budgets: Your Roadmap to Success

If you’ve created a budget for your business, that’s a great start—but are you using it effectively? A budget is more than just numbers on a page; it’s a roadmap to keep your business on track.

Regularly comparing your actual performance against your budget is essential. Many online accounting tools allow you to input your budget and generate easy-to-read “budget vs actual” reports. These reports help you stay accountable and adjust as needed, ensuring you’re always steering toward your goals.

Navigating Uncertainty with Confidence

Let’s face it—2024 was a tough year for Australian small businesses. Inflation, labor shortages, rising interest rates, and extreme weather created significant hurdles. While you can’t predict every challenge, having a solid strategy and contingency plan can help you weather the storms ahead.

At MB+M, we specialise in helping businesses overcome obstacles and achieve their goals. Whether it’s refining your strategy, creating budgets, or navigating unforeseen challenges, we’re here to help.

Ready to Make 2025 the Year of Success?

Our team at MB+M, with offices in Shepparton and Numurkah, is dedicated to supporting businesses in the Goulburn Valley. From strategic planning to expert advice, we’re here to help you work smarter, not harder.

Contact us today to book a free, no-obligation consultation, and let’s explore how we can make your business goals a reality.