Articles

      Through our regular feature articles, we provide insights and updates on key topics and new developments in finance, tax and business management. We automatically send these out to clients at key times throughout the year, or you can catch up from our list of articles below. 

Add a Title

The Key to Successful Strategic Planning

      Strategic planning is pivotal for any business, but like anything, there are common pitfalls that can disrupt the overall progress. We help both large and small businesses across diverse industries and there are some common mistakes that we continue to see. So, we’ve put together this checklist to help your business avoid mistakes and ensure your heading in the right direction.

34 TORRENS ROAD,

RIVERTON SA 5412

REGIONAL ACCOUNTING & FINANCE

34.1584° S,

138.7477° E

Article Name

      Dealing with tax requirements is one of the most dreaded parts of running any business ­– from managing invoices and documentation to calculating deductions, understanding tax rules, complying with reporting requirements, making sense of new laws and rulings, and submitting tax returns and activity statements.

 

Macdonald Dunlop aims to take that stress away and make it easier for you to be confident that you’re not paying more tax than you should, and you’re claiming the deductions you’re entitled to. And that’s not just after June 30th. We also help out before tax time, to make sure you and your business are ready.​

1) Keep Focused

 

      If your focus is too broad things can fall through the cracks and consequently, opportunities can be missed. Ensure you are realistic, identify your current capabilities and establish clear strategic priorities.

 

      Strategic priorities are focused areas you set for your business. Some examples of strategic priorities can include:

 

  • Boost revenue

  • Foster a stronger workplace culture

  • Launch a new product 

  • Develop a better customer journey

​​​​​​

Highlighting three or four of these and setting priorities to achieve them within a timeframe will help you focus to achieve them. Take the time to:

 

  • Realistically consider your business growth  

  • Have a flexible mindset with expectations

  • Set performance goals 

 

2. Set S.M.A.R.T. goals

 

Initiating S.M.A.R.T. goals specific, measurable, achievable, relevant, and time-bound goals can influence their success. These are what you’ll be working towards so it’s fundamental for them to be clear and it will make you and your team accountable. 


 

3. Track your progress

 

Even if you have a flawless plan, there’s still room for error and misguided actions if you aren’t checking your progress periodically. 

 

Day to day responsibilities can get in the way sometimes and make for a chaotic schedule. So take time out to check your progress. Structure dedicated meetings to:

 

  • Monitor KPIs

  • Catch up with employees and check in with their goals and objectives

  • Keep your plan relevant and realistic

 

Your strategic plan will be a pivotal point in paving the path that your business will take. At MacDonald Dunlop, we see businesses fall into some pitfalls as the hectic day to day tasks and deadlines can be distracting. Our highly skilled and approachable team can help realign your business and motivate you to get back on track. 

 

Our advisors will look at your business and it’s performance, assess the markets you're operating in, and evaluate the opportunities and challenges. Get in touch to find out how we can help.

The Key to Successful

Strategic Planning

      Strategic planning is pivotal for any business, but like anything, there are common pitfalls that can disrupt the overall progress. We help both large and small businesses across diverse industries and there are some common mistakes that we continue to see. So, we’ve put together this checklist to help your business avoid mistakes and ensure your heading in the right direction.

ABOUT US

SERVICES

TEAM

CONTACT

Sign up to our newsletter:

HEAD OFFICE –

34 TORRENS ROAD, RIVERTON SA 5412

Ⓒ MACDONALD DUNLOP PTY. LTD.

P –– (08) 8847 2009

E –– ADMIN@MACDUNLOP.COM.AU