Christmas is coming – Is your budget plan ready for 2017?

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”  ~ Joe Biden

With the holidays just around the corner, this is the time to be almost finished planning your business’ budget for 2017. The technology in our world is evolving and reaching new and innovative levels, and as the market advances, you need to keep up. This means that while planning next year’s budget you shouldn’t be focused exclusively on what’s happening inside your company, but also on market trends so that you can use these insight to your advantage.

Based on our review of a number of sources, here are a few trends to consider while finalizing your 2017 business plan:

1. No one has to be a technical genius on order the thrive

Truth is, technology is an ongoing cycle that will likely never ever stop. Interestingly, most tools that once needed a technically savvy employee to handle, are simplified and are much easier to use. Technology has developed a trend of making tools so easy to use that you no longer have to bring in an extremely experienced employee to manage the process. This is something to consider while planning your budget as

2. Embrace the Millennial generation

I’m sure a lot of you are asking what a millennial is, I know I certainly did. In Lindsey Pollak’s article “What is a millennial?...” you can find a great explanation, but in short, the Millennial generation were born in the years from 1982 – 2002. They are also known as generation Y and, according to experts, will soon become the largest living generation in the U.S. The Millennial generation is known for their creativeness and their constant want to improve themselves and their workforce. This is also important to consider while planning as they are known to embrace change within large organizations, something that could come in handy when making any kind of change.

3. E-commerce will continue to grow

According to Smart Insights, Ecommerce is not going away- it’s getting stronger. Worldwide B2C e-commerce sales reached $1.7 trillion in 2015, and it is estimated to reach $2.35 trillion by 2018. As the mobile environment has exploded, so has opened its own ecommerce market. Now that everyone has a supercomputer in their pocket with easy access to the internet, easy payment solutions and next day shipping, the online mobile experience is almost as good as being in person. So if your products or services can be sold online, you should take care to ensure that your user experience is as simple and easy to understand. If your organization can support an ecommerce market, it is definitely something worth thinking about.

Need help with ways to ensure you’re managers are really going to meet their goals at the end of 2017?