What Shocked Me Looking Back

Quick Insight

People say it’s useless for new or small businesses to plan three years. You can’t predict much with accuracy, but having some long-term goals points you in the best direction for your next few steps. I recently revisited my three-year priorities. The last time I did this was two years ago. I pulled up that document from two years ago and was shocked at how similar it was to what I was planning for the next three years. Read more below for what I discovered.

I recently revisited my three-year priorities. The last time I did this was two years ago. I pulled up that document from two years ago and was shocked at how similar it was to what I was planning for the next three years. I literally went back to check its date to make sure it was from two years ago.

To be honest, I had forgotten what I had put in this and had focused too much on annual/quarterly goals. I wish I had kept the three-year priorities more in mind to stay the course in my business. I had wandered away from parts of it due to a lack of patience and focus.

Some say it’s useless for new or small businesses to plan three years. You can’t predict much with accuracy, but having some long-term goals points you in the best direction for your next few steps.

Two years ago, I didn’t know where I would be today. Today, I have a much clearer picture of where my company is going. It’s not so much a better idea of the direction but a better understanding of what the path looks like further in that direction.

I still don’t have complete clarity on what the next three years will bring, but I know my next steps and am committed to staying closer to the path of my company’s purpose, mission, and vision.

I wish you clarity on your next steps. I wish you well.

- Rob Stephens

Further Insight

CFO Perspective Resources

  • Video: How to Create a Cash Flow Projection - This video walks you step-by-step on how to create starting from an easy and free template. A cash flow projection can help you identify “cash leaks” that are draining your profits, spot periods of low cash flow before they become a crisis, and know when you have the cash to capture opportunities.
  • Course: ACE - Strategic Planning for Small Businesses - Small business strategic planning should quickly lead you from defining where you are going to deciding how to get there. Getting there takes a well-built strategy and implementation plan. Get planning and management tools with the basics of how to use them.
  • Course: Entrepreneurial Finance - Small Business Financial Management Basics - Get a financial overview of the entrepreneurial journey from startup to operational decisions to exit planning. You’ll hear from a business banker guest speaker who explains what lenders look at when deciding whether to make a loan to a small business.

Get all the CFO Perspective resources with a FAST (Finance and Strategy Toolkit) membership.

Get the tools, guidance, and support for superior business performance

Get all the CFO Perspective courses plus more in one package. FAST (Finance and Strategy Toolkit) is the membership program that gives you the resources for better strategic financial management. Get direct access to me as well tools for improved decisions that lead to superior business performance.

The right tools save you time, reduce your stress, and improve your effectiveness.

Learn More
>
Success message!
Warning message!
Error message!