Review the past to see what has worked for you previously. Focus more on profit, not income. Don’t forget the enjoyment factor.

Now make a list of your goals. How much money would you like to make? Do you want to add any products or services? Would you like to make any changes in your work habits?

Get specific. Put a number by each goal. For example: if your goal is to increase business, decide whether you want more customers or more income per customer, etc. Then list how many additional customers, what type, and the average sales per customer.

Develop steps to achieve each goal. How are you going to attract more customers? How are you going to increase sales to current customers?

Estimate money. Put a dollar figure with each step. If you are going to increase marketing, how much will it cost?

Estimate time. Put a time factor next to each step. Don’t forget to be specific.

Estimate people. Who will be responsible for each step? How many people are needed to reach the goals?

Prioritize. Rate each goal as to how important it is to you and your business. Your goals probably require more money, more people and more time than is possibly available so it’s always good to prioritize and reach some goals every year.

Write an action plan with a specific time frame. Identify the month, week, or day that you plan on acting on each step.

Reality check. Make sure to review your goals periodically and determine if they are still reasonable. Have factors arisen that may change the priority of your goals or change your goals completely? You can always amend your goals to meet your needs.

Last, but not least. Never give up on your annual plan. Make adjustments if necessary. If you don’t know where you’re going, how will you ever get there?