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A NEW WAY TO SET GOALS IN 2023

Business planning for 2023 is more complicated now than ever because of the amount of change and volatility in the world.
 
Uncertainty and instability have emerged int he following areas:
 
LABOR FORCE
 
The labor force is once again changing as those that chose to resign/not work during the pandemic have depleted their cash and are dipping into savings. They are thinking about returning to work in the fall or the end of summer.
 
REMOTE WORK OPPORTUNITIES
 
More companies are drawing a line in the sand when it comes to offering remote work options, telling their employees they must return in person. As an example, Elon Musk said, "Anyone who wishes to do remote work must be in the office for a minimum, (and I mean *minimum*) of 40 hours per work or depart Tesla"
 
A NEW UNCERTAINTY OF THE REMOTE WORKER
 
Recent reports indicate that remote workers are more likely to be laid off if they are part of a company with a lot of on-site workers. It's an indirect effect that builds up over time - not because you are remote, but because not being on site has shifted your role's impact on the team:
 
  • You're "out of sight out of mind"
  • You're not involved in impromptu conversations
  • Your work can be "less visible"
  • You don't develop relationships the same way
  • You're not necessarily top of mind when new projects or opportunities arise
  • Laying off a remote worker is seen as "less disruptive" to company culture than laying off an on-site worker
 
Constantly monitor the remote work pros and cons because change over time.
 
INFLATION
 
Uncertainty about how long inflation will last and when/if it will go down makes business planning for 2023 more difficult.
 
 MEET THE ROLLING BUSINESS PLAN
 
It's NOT okay to say, "I won't plan for 12 months because I can't."
 
Instead, we recommend implementing a rolling business plan.
 
A rolling business plan breaks the year up into smaller parts - such as quarters - and gives entrepreneurs the change to review attachments, assess economic conditions, and make changes timely.
 
The rolling business plan would be updated every quarter, with an annual or three-year mindset, so business owners can react and respond to volatility in the economy.
 
This does NOT mean entrepreneurs should dismiss an annual plan altogether. There are still situations when a 12-month picture is needed, such as when selling a business or for tax purposes.
 
Planning for the year is still necessary and possible, and it's more important than ever for the entrepreneur to be nimble. Taking a rolling-quarters approach gives business owners the flexibility to build financial momentum despite environmental changes. 


INDEX
  • 4 PILLARS OF A SOLID BUSINESS FOUNDATION
  • A NEW WAY TO SET GOALS IN 2023
  • WHEN SHOULD I HIRE A PRESIDENT?
  • WHEN SHOULD I HIRE A CHIEF PEOPLE OFFICER?
  • WHEN SHOULD I HIRE A CHIEF MARKETING OFFICER?
  • WHEN SHOULD I HIRE A COO?
  • HOW TO EXIT YOUR BUSINESS WHEN YOU DON'T HAVE A BUYER
  • WHEN SHOULD I HIRE A CHIEF FINANCIAL OFFICER?
  • IT'S NOT THE GREAT RESIGNATION; IT'S THE GREAT REALIGNMENT
  • WHEN SHOULD I HIRE AN HR MANAGER?
  • WHY YOUR BUSINESS NEEDS A PRICING STRATEGY
  • THE 4 Cs OF EVERY SUCCESSFUL BUSINESS
  • WHAT IS A CEPA ADVISOR AND HOW CAN ONE BENEFIT YOUR BUSINESS?
  • THE FALLOUT ON CULTURE WHEN YOU DON'T HIRE A PLAYERS
  • THE ROLES OF SALES IN YOUR SMALL BUSINESS
  • FINDING THE PERFECT GIFT FOR THE ENTREPRENEUR IN YOUR LIFE
  • THE BENEFITS OF OWNING A SMALL BUSINESS
  • WORKFORCE IN MOTION
  • GOAL SETTING FOR 2022: WHAT TO DO NOW TO BE SUCCESSFUL NEXT YEAR
  • LESSONS LEARNED AFTER PUBLISHING MY FIRST BOOK
  • WHY YOUR BUSINESS NEEDS INNOVATION
  • THE COVID-INSPIRED SPIKE IN ENTREPRENEURIALISM
  • THE PROS AND CONS OF OUTSOURCING YOUR FINANCE AND ACCOUNTING SERVICE
  • HOW TO SET GOALS IN 2021
  • THE LEADERSHIP EVOLUTION OF YOUR BUSINESS
  • HOW TO GET THE MOST OUT OF YOUR ADVISORY BOARD
  • THE PANDEMIC-INDUCED INNOVATION OF MEETINGS
  • HOW TO USE THE 8 P'S OF MARKETING TO GROW YOUR BUSINESS
  • BEST PRACTICES FOR COLLEGE FINANCING
  • SCALING A BUSINESS - ARE YOU READY?
  • THE HALFWAY POINT: IT'S TIME TO REVISIT THOSE BUSINESS GOALS
  • GROWTH WITH PURPOSE: SUCCESSION PLANNING
  • GROWTH WITH PURPOSE: EVOLUTION OF FAMILY LIFE
  • GROWTH WITH PURPOSE: FINANCIAL RISK
  • GROWTH WITH PURPOSE: INTEGRATION
  • GROWTH WITH PURPOSE: WHY ARE YOU GROWING YOUR COMPANY?
  • GOAL SETTING 2020: HOW TO KEEP YOUR GOALS FRONT AND CENTER ALL YEAR LONG
  • ASK GERBER: HOW TO STAY LASER FOCUSED DURING THE HOLIDAYS
  • Ask Gerber: How to Identify Your Business's Culture When You Don't Think You Have One
  • Ask Gerber: When Should I Hire a Professional Manager?
  • Ask Gerber: Should You Mix Business with Friendship?
  • ASK GERBER: HOW DO I ESCAPE THE ENTREPRENEURIAL SLUMP OF FEELING TRAPPED IN MY BUSINESS?
  • ASK GERBER: HOW CAN ENTREPRENEURS CREATE SHARED EXPERIENCES WITH THEIR CHILDREN?
  • Ask Gerber: How Can I Recognize Permanent Failure as an Entrepreneur?
  • Ask Gerber: How Can I Recognize and Overcome Temporary Failures?
  • ASK GERBER: HOW DO I HELP EASE EMPLOYEE STRESS DURING BUSY SEASON?
  • ASK GERBER: DO I NEED TO HIRE HR?
  • ASK GERBER : DO I NEED A CEO?
  • ASK GERBER: DO I NEED TO HIRE A COO?
  • ASK GERBER: DO I NEED TO HIRE A CMO?
  • ASK GERBER: DO I NEED TO HIRE A CFO?
  • ASK GERBER: HOW DO I KEEP PASSION AND PROFITS TOP OF MIND IN MY BUSINESS?
  • ASK GERBER: WHY DO I NEED TO INVEST IN HOSTING AN ANNUAL RETREAT FOR MY TEAM?
  • ASK GERBER: HOW CAN I ENGAGE WITH MY CLIENTS/PROSPECTS WITHOUT BREAKING THE BANK?
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART DEUX
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART ONE
  • ASK GERBER: THE HIRING PROCESS. WHY IS IT SO DAMN HARD?
  • ASK GERBER: WHY IT'S IMPORTANT TO KNOW AND GROW YOUR COMPANY CULTURE
  • ASK GERBER: HOW DO I ACHIEVE THE WORK/LIFE BALANCE AS A BUSY ENTREPRENEUR?
  • ASK GERBER: HOW DO I PREPARE MY FRIENDS FOR LIFE AS AN ENTREPRENEUR?
  • ASK GERBER: FIRST GENERATION ENTREPRENEURS AND BUSINESS EXECUTIVES, HOW ARE THEY DIFFERENT?
  • ASK GERBER: I PUT SO MUCH OF MYSELF INTO MY BUSINESS THAT I WORRY I AM FALLING SHORT AS A SPOUSE AND PARENT. WHAT CAN I DO?
  • ASK GERBER: ARE CHILDREN OF FIRST-GENERATION ENTREPRENEURS MORE LIKELY TO BE SPOILED?
  • ASK GERBER: WHAT'S YOUR STANCE ON REMOTE ACCESS FOR EMPLOYEES?
  • ASK GERBER: WHEN DO I NEED TO HIRE AN ADMINISTRATIVE ASSISTANT?
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