With 2024 just around the bend, now is the time to think about how you’ll move your business forward.

One of the most effective ways to plan for the year ahead is to look back on the year behind. Assessing your performance in 2023 can give you valuable insight into what is—or is not—working for your company.

1. Financial performance

Review your financial statements to evaluate where your company stands. Drill down into the numbers to understand what aspects of your business are contributing to—or hindering—your financial success.

2. Project performance

The jobs you take on directly affect your financial results. How many projects did you complete in 2023? Which types of projects were most profitable? Were any projects “in the red”? Which workers were most
productive?

Using your past financial and project performance collectively as a learning tool can help you identify:

• Areas to reduce costs
• Ways to improve cash flow
• Whether to raise prices
• The types of projects to focus on the most
• Whether some workers need additional training

And that knowledge will help you set informed goals and strategies for improving and growing your business in 2024.