The 5 Essentials Every Business Needs for 2025 Success

finance strategy

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Time is flying, and before you know it, another year will pass. Will your business be where you want it to be? To ensure sustainable growth and profitability, you need these five essentials in place.

1. A Clear Strategy

Without a strategy, you're driving without a destination. Your strategy should define:

Where you compete
How you compete
How you win

But a strategy is only viable if it generates returns greater than your investment. If your business isn’t driving free cash flow, your strategy needs work.

2. A Plan for Execution (IARs)

A strategy is useless without execution. That’s why we use IARs (Initiatives, Actions, and Results) to turn plans into action:

Initiatives: Key priorities to solve challenges and drive growth
Actions: The steps taken to move initiatives forward
Results: Measurable outcomes to track success

Limit initiatives to five or fewer and focus on the biggest opportunities.

3. A Rolling Financial Forecast

Annual budgets are outdated. Instead, use a rolling 24-month forecast that updates monthly. This gives you real-time visibility into:

Financial risks before they become problems
Opportunities to capitalize on growth
A proactive vs. reactive financial approach

4. Timely Financial Reporting

If your financial reports take months to arrive, you're already behind. Aim for reports by the third week of each month to ensure:

Data-driven decision-making
Clear visibility into cash flow and profitability
The ability to adjust strategy quickly

5. Key Performance Indicators (KPIs)

What gets measured gets managed. Track the right KPIs to stay on course:

Financial (revenue growth, free cash flow)
Operational (customer retention, efficiency)
Sales & Marketing (conversion rates, lead generation)

Final Thoughts

Success isn’t about luck—it’s about having the right strategy and execution plan in place. These five essentials will keep your business on track, profitable, and positioned for growth. Don’t wait—get started today.

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About the Author

Steve Coughran is the founder of Coltivar and a trusted partner to construction and service-based businesses that want to grow without the chaos. With deep experience in finance, strategy, and operations, Steve helps owners get clear on their numbers, fix what’s holding them back, and build companies that are actually worth owning. He’s worked with businesses from $3M to $100M+, helping them price smarter, run leaner, and grow on purpose—not by accident. At the end of the day, Steve’s focus is simple: give owners the clarity, confidence, and support they need to lead well and build something that lasts.