Now that we are entering the final quarter of the financial year, it is time to review the progress of your business goals for your childcare centre. Whether or not you are planning to sell your childcare centre, it is important to follow through on your goals for the year to make sure that you are progressing professionally, creating a positive working environment as well as maintaining a profitable childcare centre.
At the start of the financial year (or perhaps earlier) you should have created a list of goals for your childcare business. It is important to reassess these goals now so that you can plan accordingly for the next few months and toward the new financial year. While you may have missed the mark so far this financial year with an honest review and dedicated effort you can see your goals met before your deadline.
Here are 3 questions you should be asking yourself as you go into the final quarter and the new financial year.
1. What business goals have you met?
Hopefully you have worked diligently towards your business goals throughout the year and find yourself with a long list of completed tasks. Performance in the third quarter is important, as it can inspire or push you to end the year on a high-note and work through those last few goals. Recognise your team on the goals you met to provide a morale boost and inspire them to bring the year to a strong end.
2. What goals are you yet to meet and how will you achieve them?
Going into the final quarter of the financial year, hopefully you have met most of the goals you had planned. If there’s a few left to realise, it’s time to create an action plan and see the business goals followed through successfully. Focussed effort in the final quarter can round off a year and set your childcare centre up for success in the new financial year and long into the future.
3. How will you make it better going forward?
Once you have evaluated your goals and devised specific tactics to improve in the final quarter, it is important to share this information. Gather your team, management staff, and business stakeholders and commit to the updated plan. Getting the whole team involved can provide a boost to morale, involvement and engagement which in turn creates a happier work environment for everyone and a more profitable business.
Moving towards the new financial year, it is almost time to plan business goals for next year. It is helpful to start now so that you can plan effectively and realistically by assessing your current progress. If some of this year’s goals were too easy, how can you be more ambitious next financial year? If some were too difficult, how can you create a long-term plan to reach them? Were some of your expectations unrealistically high, or low? Was there a lack of communication leading to missed goals? Did something unexpected happen and throw you off course?
Finishing this year on a high and having a clear plan for next year can set you on the right path for success in your childcare business or realising the optimal return on your childcare investment.
If you would like more information about how to plan for success in your childcare business, or how to measure success when looking to buy or sell a childcare centre why not check out our blogs or attend one of our Childcare Business Matters Workshops held in Sydney and Brisbane.
To get more information about the Business Matters workshops click here – Business Matters Workshop
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