2021 is right around the corner and as a business owner, you may find yourself scrambling to prepare for the new year. A new year means new opportunities, so to prepare for the fortune the next year will bring, you have to plan now, in the current year.
Start by identifying and setting your goals for the next year. Whether they are to increase profits, grow your team, or open a new location, define them now so that you can begin mapping out a plan to achieve it. Keep in mind you don’t necessarily have to start from scratch to achieve these. You can use existing models or structures to reach these goals.
Consider making these three things central to your list of goals for next year.
If you don't currently have a social media plan or had trouble sticking to one from last year, now is the time to think about how you will implement it this year. Social media is integral to the success of your business for three major reasons:
Social media is powerful because it has the ability to generate a significant amount of publicity and awareness with minimal effort. In the past, businesses would invest in expensive advertising campaigns which may have involved creating commercials, buying ad space or billboards, etc. Now, with social media they can simply upload a video to any of the various platforms and if that video goes viral it has the opportunity to get thousands, if not millions, of views, thus increasing brand exposure.
The most popular platforms for social media advertising are Facebook and LinkedIn. We recommend LinkedIn if you wish to focus on B2B marketing. Facebook can also be used for B2B but is more successful in B2C marketing. Also consider Twitter and Instagram if you’d like to engage directly with your customers.
If you aren’t convinced, this article by Marketing Insider Group lists some interesting figures and metrics to help you get started creating a social campaign.
If you are juggling everything you have to do, and everything related to your business in your head, chances are you probably lose track of a lot of things or have a lot of things that are incomplete. Even if you state them verbally, it’s easy to blow things off and forget about them, leaving them undone.
Going into the new year, get into the habit of creating lists of everything you have to do so they exist in a tangible format. You can use a notebook, planner or even your phone to make lists of everything you have to do or want to have accomplished. Spend time every day or week going through the list and marking off what has been completed and pay attention to what still needs to be done. This is the other benefit of creating lists is that you can see and monitor your progress, which can be incredibly motivating and encouraging to you!
Analytics use data and math to construct statistical models based upon the information collected. They can be very beneficial to businesses as they allow them to assess their progress and identify areas of opportunities or improvement. You can collect data regarding how much customers spend, what they are buying, browsing, or searching for. You can also analyze your sales and what time of the year you get the most sales. Using analytics you can target what your customers are responding to, which will allow you to streamline marketing and sales efforts.
Folks that can’t capture what it is that their customers want and like about your business tend to spend a lot more money trying to blindly cater to them instead of implementing strategic plans that will save time and money. As a result, many of these businesses fail.
Begin the new year by gathering data about all areas of your business - sales, marketing, customer retention, profits, etc. Take the time to create spreadsheets or invest into database software to organize your data. As the year progresses continue to update these systems so that by the end of the year you can assess your business’s progress. This will also allow you to create attainable goals for the new year.
You may be excited to implement these goals for the new year and are already ready to make plans to achieve them. But before you can start working towards these goals, you still have to complete these things in the current year to prepare for the upcoming.
We hope that you find these tips useful for your business. Please implement them and let us know how you do.
If you’d like some extra assistance to plan for the new year, reach out to us and we can schedule your Complimentary Coaching Call.
I am a certified Business Coach, providing business help, business advice, business coaching and mentoring services to successful and emerging business owners. I have a passion for helping businesses like yours grow and become profitable, so you, the business owner can enjoy the lifestyle you deserve.
As your Business Coach and advisor, I will help you deliver the results you desire using proven tools, methodologies and systems, tested and perfected over tens of thousands of businesses worldwide for over more than two decades. I will hold you accountable for your results and just like a sports coach, push you to perform at optimal levels. Let's schedule a complimentary Business Coaching session to get started.