The beginning of a new year provides an ideal opportunity to pause and review how your business is performing. You are likely to have clear ambitions for your company, but you may also want it to support your wider personal goals.

Many business owners make time periodically to reassess priorities so their business continues to align with their broader life objectives. This type of strategic planning requires stepping away from day-to-day operations to focus on the bigger picture. It involves clarifying where you want your business to be and mapping out the steps needed to reach that position.

How to approach it

A hands-on approach to strategic planning typically includes:

  • Reflecting on your aspirations: What are you aiming to achieve in your business and in your personal life? Where would you like to be in 12 months, five years and ten years? What will be required to help you reach those goals?

  • Looking back at the previous year: What worked well and what did not? Which products or services delivered the strongest results? Which customers were the most profitable, or perhaps the most enjoyable to work with? Which members of staff demonstrated the potential to take on greater responsibility? Considering these questions can highlight opportunities for the year ahead.

  • Defining objectives: Set clear, measurable targets for the next 12–24 months. These may relate to increasing sales and revenue, reducing specific costs, launching new products, investing in training, or making capital investments.

  • Pinpointing key actions: Each objective should be broken down into practical steps. Responsibilities can then be assigned and timelines agreed.

  • Reviewing progress: Throughout the year, monitor how the business is performing against these actions and make adjustments where necessary.

Keeping personal goals in focus

As you work through this process, it is important to keep your personal goals front of mind. Without this, you may achieve a business objective only to find it has had a negative impact on your life outside work.

For instance, when considering where you want the business to be financially over the next 12 months, think about how profits could support personal plans such as saving for a home, contributing to a pension, or taking more time off.

Similarly, launching a new product may increase revenue but could also demand longer working hours. It is worth considering how this fits with your personal priorities, such as spending time with family or looking after your health.

Getting started

Strategic planning can be challenging when you are immersed in the daily demands of running a business. A good starting point is to set aside dedicated time specifically to think about your aspirations and objectives without distractions.

You may also wish to involve key members of your team when reviewing 2025 and exploring what could be achieved in 2026.

An external adviser can also offer valuable, impartial insight and help you work more efficiently rather than simply harder.

If you would like support, we can help you set priorities, model different scenarios, assess the financial and tax implications of decisions, and turn your objectives into clear, actionable steps. Get in touch and we would be happy to help you create a roadmap that supports both your business and personal goals in 2026.