End of the Year Planning for Ag Consultants
12/20/2022
The American Society of Agricultural Consultants (ASAC) provides regular “Shop Talk” webinars on a variety of topics. In late November, Paige Gilligan of Risk Mitigators and Advisors, facilitated a discussion titled, “Stop Using the Magic 8 Ball to Run your Business” providing a strategic and thorough review of 10 tools that consultants can use for their year-end planning.
The American Society of Agricultural Consultants (ASAC) provides regular “Shop Talk” webinars on a variety of topics. In late November, Paige Gilligan of Risk Mitigators and Advisors, facilitated a discussion titled, “Stop Using the Magic 8 Ball to Run your Business” providing a strategic and thorough review of 10 tools that consultants can use for their year-end planning.
The list included:
1. Reconciling your accounts—making sure your finances are in order and ready for tax preparation
2. Reviewing your financial reports—how did you do financially this year?
3. Analyzing cash flow—is it consistent, cyclical, unpredictable?
4. Year-end tax planning—know the options available to you and your business
5. Review last year's goals—how did you do compared to your budget?
6. Identify shortcomings and solutions—what are your limiting factors?
7. Evaluate your clients and future staffing needs—are you able to deliver what you promised with the current staff? Are there contracts to renew? Who are your top clients?
8. Set goals, strategize and write it all down—think about your ideal future and what it will take to get there.
9. Create a budget for the New Year—review how you did financially in the past year and what adjustments would be appropriate.
10. Celebrate successes!
Paige’s bullet points provided a great outline for a robust discussion among the participants, sharing their personal perspectives on each one. It is a tremendous privilege to glean the wisdom and experiences of seasoned professionals from across the country who are willing to share their knowledge to help others improve their skills and enhance their business.
To register for future Shop Talks, go to the ASAC website, click Education and Events, then ASAC Shop Talk. There is a link there to register for upcoming events.
Posted by Don Tyler
ASAC Member
Paige Gilligan, CAC
Risk Mitigators and Advisors
Risk Mitigators and Advisors
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