We have our brand new financial plan crafted and ready to be implemented. But, how do we do that? Collecting data is essential but it is useless if we do not learn how to use it to improve our business. Here you have some ways to implement your financial plan. Look at these pieces of advise on how to implement -and not forget- your financial plan:

1. Establish short-term and long-term tasks.

This step is crucial. Select carefully your week goals and the actions that you are going to take to reach it. A establish a reasonable date to reach your goals. This will force you to take immediate actions and to track every success. In addition, it is a good way to motivate yourself and encourage you to reach the following goals. Think about a race, you are always going to put more effort if you are competing with other runners, right?

2. Prioritise.

Among all the actions that you have to take, select those that you think are the most important and place them in the first position in your list. We have to plan our strategies smart so we can start perceiving improvements as soon as possible. This step is aimed at taking the most of our financial plan.

3. Do not forget your financial plan.

Once you have crafted your financial plan, do not save it and close it. Leave it open somewhere in the screen of your computer. This will be a remainder that will help you to bear it in mind.

4. Keep your financial plan up-to-dated.

Devote at least one hour at the end of the week to keep your financial plan up-to-dated. I know that this may be a bit difficult as we always tend to be very busy translating, invoicing, doing any research or even attending any event. Nevertheless, it is important to find the time to fill our financial plans week by week. Track all your expenses and income. Our financial plan is based on the data that we gather, that is why we must be as accurate as possible.

5. Reevaluate and revise your financial plan.

It is also important to ask ourselves at the of the week which actions we have taken and how can we improve them with views to the following week. By doing this, we will ensure that we improve little by little our finances and we have a clearer picture of the situation of our business.

 

What about you? Have you got any strategy to implement plans within your business? I’ll be glad to hear about then.