We are quickly approaching my favorite time of the business year – That September/October strategic planning period. It’s like cracking open a crisp new notebook on the first day of school! The business nerd in me loves the anticipation of planning for the coming year. I’m energized by identifying my top strategic goals, budgeting for explosive growth while managing expenses, building out projections, creating new ways to serve our clients, identifying opportunities to support our talented attorneys, and expanding my vision for Stock Legal. Perhaps most importantly, challenging myself to think bigger and even further outside of the box, to build the firm, that our clients need to support their growing businesses.
Once August hits, my brain immediately goes into financial mode. I spend additional time reviewing our current projections with my advisors and comparing them to our actual financials. I am constantly asking myself – What can I learn from the data and our key performance indicators? I also start planning our annual attorney meetings, where I ask everyone who works with me about their vision for the next year (and years to come). Additionally, our busy season starts in September. That means in August, I spend additional time analyzing our current workload, reviewing the pipeline, and making hiring decisions for the remainder of the year.
Last, but not least, I start the strategic planning process for the coming year. That strategic planning process involves all of the trusted advisors in my life – Legal Back Office, my accounting team, my fractional CFO support, and my Vistage group. This team provides not only insight, but perhaps more importantly, accountability. As the founder of any business organization, you learn quickly that there is no rule book. You are on your own to build your dream. That’s terrifying and empowering, all at the same time! Without a team of trusted advisors, I would feel (even more) overwhelmed with all of the possibilities and opportunities. This strategic planning process is the anchor for me, and the team that surrounds me keeps me grounded.
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