So it is not a quick “gut reaction” to whether you move with a 3%, 5%, or more of an increase over 2016. You should be thinking outside the box–this plan is more than a “gut” feel. The process should be built from the bottom up with consensus of the staff. The plan should reinforce your short and long term goals and objectives that have been established and re-visited with each new planning cycle. It should include each functional area of the business and should have all the metrics to back up the detail which make up each initiative to accomplish your plan to attain your goals for the business.
The process has a definite starting point that should be looked at each year.
You need to evaluate where you are in the time line which is part of your long term plan for the business when it was created.
- What have you accomplished?
- What are the strengths?
- What are the weaknesses?
- What are the new threats?