Are You Ready for the New Financial Year?

With the start of the new financial year upon us, are you ready to take full advantage of the opportunities over the next 12 months?  Maybe you are a small business looking to expand, or an established business ready to tackle new markets.  Or perhaps you may be an individual looking to take the next step in your career.  Whatever your situation, take some time to plan out your strategies to ensure your success.  Here a few tips to get you thinking!

Ask yourself where you want to be in 12 months’ time.

If you own or manage a business, you should ideally have a 5 year plan which should be reviewed annually.  Are you on target to achieve your long term goals?

Set achievable goals and break them down into monthly / quarterly achievements.

Make sure you list your goals and display them somewhere prominently.  If you are a visual person, try making a “Vision Board” where you find and post pictures that relate to your goals.  E.g. You want to take your sales team overseas for a conference – post pictures of the desired location with “here we come” listed below.

Review your current business processes – will they help or hinder you to achieve your goals

What may have worked in the past may not necessarily work in the future.  Perhaps you need to invest in new technology, or change your practices in line with industry expectations.  If your competitors offer an extended service and you do not, how much business do you stand to lose?

Do you have the right staff to achieve your goals?

Now is the time to be very honest.  Have a realistic idea of the skills your staff must have in order for you to reach your business objectives.  If you have not already done so, draw up a skills matrix.  While it is not pleasant to let staff go, business grows in dynamic environments – if your current staff cannot or will not grow, they will hinder your attempts to achieve your goals.

Do you have the appropriate skills and experience to achieve your next career step?

If you are looking to advance your own career, now is also a good time to do a self-audit.  Identify the requirements for your preferred next promotion and make sure you have the right skills and experiences to take advantage of new opportunities.

Would you benefit from undertaking additional studies or courses?

Have you thought about updating or adding to your qualifications?  Start looking at part-time / online options which can be undertaken in conjunction with a full-time role.

Does your résumé reflect your capabilities and ambition?

If you have not updated your résumé for a while, take a critical look at it.  Have you articulated your achievements?  Does it reflect your current responsibilities?  Is the layout suitable for multi-platform views?  Most importantly, does it reflect your future career ambitions?

Embrace the opportunities a new financial year offers…just make sure you are ready to take advantage of them!

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Arrow Group offers a unique, bespoke approach to providing recruitment and HR solutions.  We are located at 94 Waverley Rd Malvern East 3145, in Melbourne’s beautiful East.

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