The Best Way to Plan Ahead is by Looking Back

Do you remember the end of Back to the Future when Dr. Brown says to Marty McFly, “Roads? Where we’re going we don’t need roads”

Having all lived through 2015, the year in which Back to the Future 2 is set, we can ascertain two things. 1) we’re still very much dependent on roads. And 2) predictions don’t always pan out.

In February of 2020, none of us could have predicted our current situation. The global pandemic has profoundly altered our lives, reshaping our workplaces, accelerating technology, and testing our businesses. Everyone’s plans required change, but that doesn’t lessen the importance of thorough planning. Don’t make the mistake of setting new goals without first reflecting on your accomplishments – and shortcomings.

Looking back

Looking back is one of the most important steps of planning ahead. It’s only when you collect the information, review the data, and analyze the results that you can truly determine where you are and where you’re headed. After all, it’s a lot easier to plan where you want to go when you know from where you’re coming. 

So, how do you effectively reflect on your past?By asking some tough questions.

1. What wins and losses stand out the most? 
2. What projects did you spend the most time and energy?
3. What should have been delegated to others?
4. Are the goals you set as important as you originally thought?
5. What does future success look like for your company?

Planning Ahead

Once you have the answers to these questions, you might realize the path you’re on is not the one you thought you were on. That’s okay. The information you gather will help you create a clear plan for the future of your business. 

One sure way to get back on track is by aligning yourself with a CFO who knows how to manage across departments, isolate and organize the challenges ahead, establish a streamlined finance data infrastructure, and figure out how best to position your businesses for success

If the last two years have taught us anything it’s that no one knows for sure what’s in store for the future. But it’s always best to have a financial vision and a strategy that can adapt to change.

If you’re finding it challenging to answer the reflection questions or unable to create a clear, focused, and manageable plan for the future, Miami CFO can help. Our executive-level financial team can help you create a plan that focuses on what’s critical in today’s business climate. 

Use this link to schedule a meeting and review your 2022 plan today: https://calendly.com/miami-cfo.