As another year commences, chances are you’re feeling refreshed, reinvigorated and have a new sense of energy. And it begs the question, what’s next?
If better business is on your agenda over the next 12 months, here are seven resolutions that should be at the top of your to-do list…
I Will Set Goals
Goals change throughout the life of a business and what may have been the primary issue on your agenda a year ago could be ticked off, resolved or no longer relevant.
Now is the time to assess what you hope to achieve in the next 12 months and note it down, regarding the lifestyle you hope to have, and the financial situation you wish to be in.
Business goals are interrelated with personal goals, but to achieve them you have to set them first.
I Will Reassess My Swot
A lot changes over a year or even six months, making now an ideal time to reassess your business’ strengths, opportunities, weaknesses and threats.
It’s the chance to look at where your business could be improved, and any new products or services that may offer benefits.
It’s also the opportunity to investigate whether there is more competition than a year ago or other threats that may impact your business.
By reassessing your SWOT, you arm your business with the knowledge required to proactively embrace the future.
I Will Revisit My Plan
Remember that big, beautiful business plan gathering dust on your shelf? Pull it out.
It’s time for an update to incorporate last year’s achievements, add any staff roles, note down any new products and factor in changes.
Your business plan should be revisited at least once a year, allowing this living document to guide you through the next 12 months and provide clarity about the path ahead.
I Will Get My Numbers Together
Bookkeeping is the bugbear of many a business owner, but having your figures readily available allows mobility when opportunities arise.
It also enables you to see where any improvements need to be made and ascertain sectors you can capitalise on or places to implement greater efficiencies.
If your figures need to be clearer, behind or in a useful format at all, now is a great time to get them up to date.
I Will Market My Business
Just as goals change over 12 months, so will the strategies available to reach your potential customer.
Now is a timely opportunity to take a closer look at who that customer really is, revise your qualifying statement to have them reveal themselves, and then target them through more effective channels.
It’s also a good chance to cast a critical eye over your branding, website and business image to make sure it remains current and is utilised to its best potential.
I Will Look At Staffing
Your staff members are critical to your business endeavours over the next year which begs the question: how well are you communicating with them, leading them or rewarding them for their efforts?
Take the time to consider who’s responsible for what, whether you can delegate more, and review their previous performance.
It’s also imperative you communicate with staff where your business is going and how they fit within that big picture, so sit down with them and outline the goals for the period ahead while revisiting your systems and procedures.
I Will Look At Technology
Technology and automation offer the opportunity to streamline or simplify your operation.
They also have the potential to improve the customer experience.
Now is a great opportunity to consider whether new technology has a place in your business and whether this is the right time to invest.
The Final Word
There’s no time like the present to critically examine your business and consider the ingredients it requires for further success.
By using the new year to draw a line in the sand, analyse the old and implement the new, you bring fresh energy and insight to your business.
Talk Strategy with Clive
With more than 30 years’ experience in mentoring small to medium-sized businesses around Australia. Clive works with company owners and their teams to grow their business and achieve goals through strategic coaching.
