As the end of the financial year approaches, now is the perfect time to stop and ask: What do I want next year to look like - and how much profit do I want to make?

It’s a question every business owner should be asking. And the good news is, the steps to answer it are more straightforward than you might think.

Start With the Profit You Want to See

Rather than waiting to see what happens next year, start by setting a realistic profit target. This gives you a clear goal to work towards and helps drive every decision you make in the business - from how you price your services to how you manage your team and expenses.

Ask yourself:

• What would a successful year look like - financially?
  
  
• What level of profit would allow me to reinvest, pay myself well, and build stability?
  

Set a Few Simple Goals

You don’t need a 30-page business plan to get clear on your next steps. By setting just three to five practical goals, you’ll create direction and focus for your team - and yourself.

Examples might include:

• Increasing revenue by 10%
  
  
• Reducing overheads by $500/month
  
  
• Hiring one new team member by December
  
  
• Boosting profit margins by improving efficiency
  
  

These goals become your decision-making compass for the new financial year.

Why a Budget Makes It All Clearer

Creating a budget is often put in the too-hard basket - but once it's done, most business owners say the same thing:
“That was actually easier than I thought. And it makes things so much clearer.”

A simple budget gives you:

• Clear monthly targets for income and expenses
  
  
• A realistic view of where you can cut back or invest more
  
  
• Insight into what needs to change to hit your profit goals
  
  

Using tools like Xero, you can even pin key income and expense lines, track progress in real time, and quickly identify where things are off track.

From Budget to Action

When you build a budget around your profit target, you’re not just reacting to numbers - you’re driving them.

With a clear plan in front of you, you can:
✅ Make informed hiring and pricing decisions
✅ Monitor spending with purpose
✅ Check progress each month and adjust early if needed

And most importantly, you’ll feel more in control of your business.

Why It Matters

We’ve worked with businesses across many industries to help clarify goals, plan for growth, and make budgeting a more useful part of their financial toolkit.

A budget doesn’t need to be perfect or overly detailed to be valuable - it just needs to give you a clear line of sight to the numbers that matter. Taking the time to step back and think about where your business is heading, how much profit is realistic, and what needs to change to get there is time well spent.

If nothing else, we hope this serves as a prompt to start thinking ahead - and to see budgeting as a strategic tool, not just a once-a-year task.

Get in touch with our team today - we’ll make the process simple and valuable from the start. To find out more about how we can help you, please contact one of our team at admin@wrightsca.com.au.

**Important notice:** This article provides information rather than financial advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation, or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information.