Home topics news News News Failing to plan, planning to fail Julian Smith June 15, 2011 It’s EOFY and you’re getting organised – you’ve made or had an appointment your accountant and have set aside some time to review the past year – what next? Well it’s now about planning ahead. Yep, I know time is scarce – you’re already flat out trying to wrap up this financial year and time to plan ahead looks hard to find – but do try to set the time aside, as it will give you the opportunity to set your business up to start the new financial year on the right foot. Don’t have a business plan? No sweat – get once started by using the range of resources available at business.gov.au. The templates on offer make it really easy for you to build a simple but effective plan for your business. Make sure those important insights you learned last year are incorporated into your business plan for the coming year. When it comes to planning – don’t fall into the trap of thinking inside the bubble. Try and do some research to look beyond your four walls of your business. Check out your industry, target market and competitors. This will help you get a feel for how your business could be performing. Speak with your accountant or business advisor – who will be a fountain of helpful information. You might even want to involve key members of your team. If you are