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Is it Already Time for 2016?

Big business often spends time in the Fall making budgets and plans for the next year. In my early days of banking, the place where I worked counted budget season as a cult classic. People burned the midnight oil making these budgets. We were zero based budget since before that was a thing.

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If you are not familiar with that term, it means you don’t assume anything. Start over. Build the budget and plan as though you had no history. This includes essentially re-justifying everything. Being a manager in those days was tough, but it was a great lesson. We had a very profitable, and healthy bank.

When looking ahead to a new year it’s not a bad idea to begin that personal planning too. The most successful people I know use planning in each business season to plot their course. Why shouldn’t you and I do that too? Do you have a time when you and your spouse take time to map out the upcoming days, weeks and months? Sadly, I don’t know too many couples who have a whole year planned ahead. Of course there might be that special trip or event, like a wedding. How often does the whole year get some kind of goal setting applied?

Truly it is not as daunting as you might think. Here are a couple of simple rules a good friend of mine uses.

  1. Ask yourself what worked this past year? Do you want to do more or less of it?
  2. Ask yourself what did not work? Do you want to fix it or eliminate it? (Most opt to stop it).
  3. What is new and different that deserves attention or prioritization for the new year?
  4. Are you reaching past goals?

These are all great ways to get the discussion started so that your new year is more prosperous, productive, and rewarding.

Question: What can you do differently to prepare your new year planning?