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As we near the end of the year and the midpoint of the 2024/25 financial year, it’s the perfect time for business owners to begin preparing for 2025 and reflect on their progress.
Preparing for 2025 is crucial to ensure your business starts the new calendar year on the right foot. Whether you’re wanting to update your goals, re-evaluate your financial position or introduce a new service, the new year is the perfect time. Here are some of our essential tips to help you get ready.
Take a moment to assess your business’s performance over the past six months. Are you on track with your financial goals? Have you been meeting your deadlines for payments like BAS, Superannuation, and other financial obligations?
This review will help you identify areas that need improvement and ensure you are compliant with all necessary regulations. We’d also recommend highlighting key dates in 2025 for payments, so you don’t miss them!
If you set a business strategy for the financial year, now is the time to evaluate your progress.
Are you meeting your milestones? Remember, it’s okay if you haven’t achieved everything you planned yet there’s always room to reset your goals or refine your strategy. Take a moment to reflect: What steps do you need to take in the next six months to get closer to where you want to be?
If you plan your strategy based on the calendar year, it is time to create a new one for 2025. A well-defined business strategy will guide your business decisions and help you stay focused on your short-term and long-term goals.
Setting clear, achievable goals is essential for business growth. These goals can be related to business expansion, financial targets, launching new services, or improving customer satisfaction. Having specific objectives will keep you motivated and provide a roadmap for success.
Reflecting on the past year is a valuable exercise. Identify your wins and celebrate them, but also take note of your losses.
Understanding what went wrong and why will help you avoid similar pitfalls in the future. Just like at the EOFY, take the time to celebrate your wins and reflect on your progress. Use these insights to improve your strategies and operations in 2025. For more tips on celebrating and reflecting, check out our blog on how to reflect on your financial year wins.
If you are thinking about starting a new business, 2025 could be the perfect year.
Take the time to research your market, develop a solid business plan, and seek advice from experts. Starting a business requires careful planning and preparation, but with the right approach, it can be a rewarding venture.
If you’re unsure where to begin, check out our small business start-up services, which can guide you through the process and help you set the right foundation for success.
We believe your business is more than just numbers. We are here to support you every step of the way.
The Valorium Advisors business philosophy revolves around more than just the numbers. We look at the bigger picture and understand that starts with you.
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