Planning In the New Year - McCarthy Group Planning In the New Year - McCarthy Group

The New Year is now well and truly kicking off, so it’s time to start figuring out exactly what goals you want to achieve in the next few months.

It’s now almost two weeks into the New Year. Businesses full of the over-indulged from Christmas are slowly winding back into standard operation; sorting old files, reviewing old finances and erecting new table tennis tables. Senior managers are probably even looking online at new ornaments for their desks.

Portrait of young creative working at his office. Graphic design studio owner sitting at desk in front of monitor and laptop and working online.

“I worked so hard last year, I think I deserve at least three more ferns for my desk. And a Newton’s Cradle”

Okay that might be a bit critical, but it does usually take some time for businessmen and women to get back into the swing of things at the start of the year. What most workers don’t realise, is that the start of the year is the perfect time to take inventory of all of the goings on from the last year and to make plans on how to improve for the New Year.

A study conducted in 2006 from the Strategic Management Journal has suggested that within manufacturing firms, companies that devote significant time and effort to planning will on average grow between 4-15% per annum!

The reason behind this is fairly straightforward. By setting goals there is clear purpose and direction for employees in the work that they perform, increasing their efficiency in carrying out the duties assigned to them. Almost everyone who works knows what it’s like to work with both a disorganised manager and a highly organised one, the latter almost always being the better.

"Hey...employee! How would you like to work over Christmas?"

“Hey…employee! How much would you like to work this weekend?”

So planning increases the success of businesses, but what about people in their personal lives?

Unsurprisingly the effect is the same. Young retirees who were given personal planning education were on average happier and more fulfilled according to a descriptive study from the European Review of Applied Psychology.

The reason?

When you achieve a set goal, you typically feel a sense of success or gratification. By having many goals you increase how often you feel success, in turn increasing your overall happiness with daily life.

Some goals can be more instantly gratifying than others, but all are worth chasing

Some goals can be more instantly gratifying than others, but all are worth chasing

What does all this mean?

If you want to have a year which is actually different from the last one, you need to take a moment of the day to sit and plan out what you want to get out of the year. Stick to something which is achievable, and work to reach the goal, no matter what it is.

In my own experience, if I write down something to achieve, whether it is over a period of a month or just a day, I am much more likely to get it done. It actually becomes a sort of addiction, writing down what to get done then crossing it off once it’s completed.

If you aren’t one who makes plans, then give it a try for the New Year and just see how big a difference it can make in your personal life!

As a final point, we talked earlier about how businesses that plan achieve greater financial success than those that don’t. Personal wealth is no different, if you have a goal to make more money, than sit down and give yourself a goal to reach. On average, those who plan to achieve particular money goals perform 12% better than those who don’t.

So get to planning for the New Year!

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