CEOs: What to Prioritize in the New Year

If the past two years have taught people anything, it’s that it’s particularly impossible to predict what will happen next. CEOs have spent the past few years trying to navigate the new “normal” and figuring out what “normal” means anymore. As you look forward to 2022, you might be wondering where to focus your attention and what things to put first.

A virtual CFO can help you develop a plan for growth and determine what really matters to your company. As the new year gets underway, here are three things to put front and center.

1. Your Employees

2021 has been a challenging year for many businesses on the staffing front. Many companies saw their employees leave in droves, often in search of better opportunities and higher pay. Many companies have struggled to replace the team members who left, putting a greater burden on those who’ve remained.

As the year draws to a close, turn your attention to your current team and find out what you can do for them in 2022. If you’re returning to the office at some point during the new year, find ways to bring the team together and restore any lost engagement.

2. C-Suite Collaboration

It can be lonely at the top, which is why it’s a good idea to collaborate closely with others in the C-suite, whether they are employees or outsourced. When you collaborate with a virtual CFO, you can start to put together a strategic plan for your company, creating a plan for growth and identifying ways to overcome obstacles that might have stood in your way in 2021.

Once you know the issues that have been impacting your company this past year, your virtual CFO can help you identify ways to move past them. For example, an outsourced CFO can connect you to undiscovered sources of funding or work with you to develop a plan to track revenue.

3. A Sense of Purpose

Does your company have a mission? If not, it can be challenging to determine why you’re still doing what you’re doing. A strong purpose also connects your employees to your company and increases their engagement. People are more likely to feel committed to and to remain with a company if they find that its goals and mission align with their own.

One way to find your company’s purpose is to ask yourself what would be lost if the business no longer existed. Ideally, the question will be easy to answer. If not, it’s time to head back to the drawing board to figure out why it is you do what you do.

Whether you want to develop a strong strategic plan in the new year, build out your mission statement, or improve your company’s financial standing, New Direction Capital can help. Contact us today to get started working with one of our virtual CFOs.