4 Annual Planning Templates (And How To Create One)

Indeed Editorial Team

Updated March 11, 2023

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject
matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career
journey.

Before a new year starts, professionals may design an annual plan that discusses the trajectory of
business growth. Annual plans indicate the vision of the business and the parties that can bring the
vision to fruition. Learning about the elements of an annual plan can allow you and your coworkers to
build strategies for the next stage of a company. In this article, we define an annual plan, explain the
steps for creating one and list templates you can use to form your own.

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What is an annual plan?

An annual plan is an itinerary for business activities for the next calendar year. It conveys the goals of
the organization and outlines actions that employees can take to reach those goals. The purpose of an
annual plan is to ensure professionals share an understanding of their employer's expectations. They
can reference the plan to guide them through work tasks, and they can contact resources that can help
them be successful. Besides goals, here are elements that an annual plan may include:

Budgets: Budgets dictate how much money an organization can afford to spend on various projects.
Outlining and maintaining a budget can help business leaders prevent overspending, allocate funds
properly and find cost-effective solutions.

Duties: To reach the goals, every member of a team may have a unique role. An annual plan describes
the duties that can make a positive impact on the company.

Deadlines: While an annual plan spans an entire year, professionals may designate specific times to see
progress. Having deadlines can induce accountability among employees, and it can show the team how
long to spend on certain tasks.

Contingency plans**:** A contingency plan indicates an alternative course of action if employees don't
enact the original plan. It allows professionals to adapt to changing circumstances while still reaching
their goals.

Related: How To Write an Effective and Comprehensive Business Plan

How to create an annual plan

Follow these steps to establish an annual plan for an organization:

1. Evaluate the previous year

The first step is to collect information about the company's performance for the past 12 months. Its
current status can help you determine an agenda for the future. Think about accomplishments the
business has made and areas you want to improve for next year. Consider collaborating with your
coworkers to create a comprehensive outlook. For example, you might interview leaders of each division
in the company to learn about its successes. You can also interpret the results of reports for specific
insights. Once you understand what employees have already done, you can build your annual plan to
achieve business growth.

2. Identify goals for the next year

The second step is to designate goals and objectives for next year. Make sure your vision is realistic and
attainable in the timeline. You can incorporate short-term goals for each month of the new year, which
can allow the company to reach one long-term goal once the year ends. For example, if the overarching
vision is to release a new product, then you might dedicate the first six months to developing the
product and the second half to promoting the product to consumers.

Using the data you've gathered about previous years, prioritize deliverables that are most important to
the success of the business. Keeping your annual plan focused may make it easier for employees to
execute the objectives. You may also have better control over the budget, and you can perform
contingency plans when your checklist is narrow. Consider the resources you have at your disposal.
Examples include funding, client support and the size and strength of the company's workforce.

Related: How To Set Business Goals (With Examples)

3. Devise actions to reach goals

The third step is to design a framework for reaching your goals in the next year. With the timeline in
mind, designate a period during the year to achieve each of your objectives. It may be beneficial to
make the actions as specific as possible, which can better guide employees. You can also edit the annual
plan more easily when you understand your original agenda.
Write down your goals and compile a list of relevant actions. For example, if the goal is to increase
employee satisfaction, then the actions may include providing monetary incentives, hosting social
gatherings and offering additional training programs. You can also create milestones to inform you and
your coworkers of your progress throughout the year. For instance, when you retain 50% of the
workforce in the first six months, then you may conclude that employee satisfaction has increased.
Organize the goals on the annual plan for employees to understand. You can categorize them based on
similar characteristics, such as subject.

4. Distribute the plan to team members

The fourth step is to share the annual plan with members of your team. It can be essential that your
coworkers interpret the objectives in the way you intended. They can also provide feedback for
improving the agenda.

Consider hosting a meeting with every associate who can contribute to next year's activities. You can
explain why you want to target certain topics for the immediate future and host open discussions about
executing each step. It may be helpful to make smaller plans for carrying out the responsibilities. For
example, you can delegate tasks to certain teams and establish a communication process for monitoring
progress.

5. Analyze the success of the plan

As the new year progresses, you may learn new information about the business that motivates you to
change the trajectory of your goal. Analyzing successes several times throughout the year can allow you
to apply changes while still being productive. You might meet with your team after the first 90 days to
discuss milestones and challenges and decide if you want to proceed with the original plan. It can be
possible that the company's financial status changes, for example. You might also gain access to new
technology that can make your processes more efficient.

Consider analyzing the company's performance when the year ends. Determine if your annual plan
accomplished every objective you established from the previous year. You can evaluate the specificity
and attainability of your goals to decide if they motivated your coworkers. It can also be helpful to
evaluate the effectiveness of your contingency plans. If the agenda satisfies you, then you can use the
same template for your next plan. The data can also visualize ideal results for the future.

Related: Everything You Need To Know to Measure Success at Work

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4 annual plan templates

Here's a list of annual plan templates you may use to guide business operations for the next 12 months:

1. Annual marketing plan

An annual marketing plan template can help you organize promotional campaigns for the future. You
can identify the demographics of consumers you're trying to reach and describe the persona of potential
buyers. The template can also offer space for coordinating each step of the campaign. For example, if
your goal is to market a product, then you might publish strategic content once a month to build
excitement for the product's release at the end of the year.

2. Annual fundraising plan

If you work for an organization that wants to raise money for a cause, then you might use the annual
fundraising plan template. You can designate the number of donations you expect to receive by the end
of the year. You can also establish monetary milestones to ensure your initiatives are collecting money
as you intended.

Related: 25 Ideas To Try When Fundraising for a Nonprofit Organization

3. Annual audit plan

An annual audit plan can be useful for performing internal audits throughout the year. Examples include
the finance department auditing organizational spending or safety specialists auditing work
environments for federal regulations. You can indicate the improvements you want to see once the
audits are complete. The template can identify the employees responsible for conducting the audits.
Another detail may be creating deadlines for interpreting and reporting the results.

4. Annual training plan

Organizational leaders may distribute annual training plans to discuss ways to promote the professional
growth of employees. The template may indicate the areas professionals can strengthen their skills in,
and it can specify programs and courses that can expose them to new knowledge. The plan can also
include a timeline for completing coursework to make sure employees are devoting enough time to their
technical abilities.

How To Set Business Goals With Examples

Indeed Editorial Team

Updated February 4, 2023

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject
matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career
journey.

Organizations spend time and resourcing identifying the best direction to focus their collective efforts.
Implementing strategic business goals helps an organization maintain success in the long term. In this
article, we define what business goals are and how to create effective ones. Then, we follow up with
examples to guide your strategic goal setting.

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What are business goals?

Business goals indicate where you intend to go with your business and in what timeframe. These goals
lead to a strategic plan of achievement and require restructuring as more information and resources
become readily available. Business goals are important because they help you methodically improve
your organization and its position in the market.

Business goals examples:

Revenue and profits

Public reach

Growth
Productivity

How to create business goals

The ease of your business's goal-setting process relies on its size and complexity. For example, it may be
obvious to a small business that to generate more revenue they have to increase the number of
customers that are aware of their business. In that case, more marketing efforts are needed. For larger
businesses, these opportunities may not be readily apparent. Many business goals will affect others. For
example, a goal to increase public reach will result in more revenue and profits.

Here are 5 steps to creating effective business goals:

Start with a SWOT business analysis.

Use your analysis to decide the best direction for your business.

Set SMART goals.

Make a strategic plan.

Implement and reevaluate your plan.

1. Start with a SWOT business analysis

A thorough SWOT analysis gives you a comprehensive view of your business. It identifies unique areas
for branding, improvements and mitigating incidents. The time it takes to perform an analysis depends
on the size of your organization.

Strengths

The first step in the SWOT analysis is identifying what your business does well. Strengths are a
competitive advantage, collective skills among your staff, customer satisfaction and more. Analyze your
market to determine how well you are fulfilling your target customers' needs. Also, determine what
assets you have that could lead to a competitive advantage such as knowledge/research.

Weaknesses

The next step in a SWOT analysis is identifying where your business inherently falls short of success
standards. These weaknesses could be a lack of experience in the market, poor customer satisfaction
ratings or low cash flow. Identify these aspects by surveying your target audience and researching your
competition. These can help you identify different perspectives of your business you may be unaware of.

Opportunities

Opportunities are areas for your business to thrive. Identifying underserved markets with low
competition is an example of an opportunity. You identify these opportunities by understanding the
market you function in, your product offering and your target audience. Also, researching how
customers are responding to your competitors is a great way to identify areas you gain an advantage.

Threats

Threats are largely external forces that are outside of your control. For example, new regulations,
changing customer tastes or supply chain issues can all present threats. Identifying these threats can
help you avoid them or mitigate any damaging effect they present to your business.

Related: SWOT Analysis Guide (With Examples)

2. Use your analysis to decide the best direction for your business

Use your SWOT analysis to choose an opportunity that will result in the most return for your business.
Whether the return helps you save money or earn more, use it as a chance to create a strategic goal
around.

3. Set SMART goals

Once you've decided on a problem to solve or opportunity to exploit, use the SMART goal-setting
structure to create achievable goals:

Specific

Specific goals give you a focus for your strategic plan. An example of a specific goal is improving
customer ratings by 25% or doubling the current revenue. Use your SWOT analysis to choose a specific
focus.
Measurable

Measurable goals allow you to track your success. It provides a quantifiable number to follow that
ensures you are hitting the benchmarks of your strategic plan. This number can be customer ratings, the
number of people you reach out to or your business expenditures.

Actionable

Actionable goals are goals that have steps toward completion. For example, getting your business into
popular blogs and magazines or becoming the number one provider of a service. These goals will
indicate a plan of action and can be broken down into smaller, more actionable pieces. An example of a
difficult goal to act on is 'be well known.'

Relevant

Relevant goals are goals related to your business and its areas for improvement. Relevant goals help
businesses focus on their core audience and values. They focus your attention on what your company is
good at.

Time-based

Your analysis will tell you the time frame that is best to reach for. Setting a timetable increases the
urgency of your goals. The deadline solidifies in the mind the idea that a project needs to move forward.
It also helps to set priorities for daily workflow. Abiding by deadlines helps to come in under budget and
move from one goal to the next, increasing overall business productivity.

Related: Smart Goals: Definition and Examples

4. Make a strategic plan

A strategic plan answers the question "how will we get there?" After you've identified your business's
strengths and opportunities and have taken the time to set goals, create a strategic plan for
accomplishment. Break your goal into smaller goals that follow the SMART structure.

This kind of project management will help you accomplish a goal a little at a time within the deadlines
you've set. Identify the steps that are most time-sensitive and identify the steps to accomplish them.
Use your strengths to create a vision for your business. Use this vision as a compass for your action
steps.

Related: Ultimate Guide To Strategic Planning

5. Implement and reevaluate

One of the most important phases of goal setting is implementation. Putting your plan into action helps
you further identify any flaws or opportunities that may not be readily noticeable. Throughout the life of
your goal, evaluate what is working best and refocus your efforts as needed. You may find it necessary
to go back through the SWOT analysis and SMART goal setting method.

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Business goals examples

Businesses that set the right goals can reasonably expect to succeed in their field of choice. Use these
examples of business goals as a guide to set your own.

Increase revenue by XY%.

Improve customer ratings by X%.

Execute a product launch that is well received in the market via reviews and sales numbers.

Become a leader in the market you serve via the percentage of market share you hold.

Define a unique opportunity for market differentiation.

Reduce costs by X%.

Identify X new revenue streams.

Identify a second product opportunity.

Increase repeat customers by 50%.

Win a best product/business award.

Identify more profitable business leads.

Increase customer duration on website.

Increase overall leads.

Improve employee productivity by X amount.