The Countdown: 3 Goals to Kick Off Your Business this New Year

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.

Create a Social Media Calendar

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:

1. You can affordably gain awareness and attention
2. You can build authority
3. You can engage with your audience
   

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.

Creating Lists

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!

Use Analytics

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.

Before the New Year, Wrap Up this 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.

1. Finish Up Projects - Starting the new year with loose ends from the previous will only delay the goals you may have for the forthcoming year. You may be tempted to abandon these projects but instead, finish the year off strong and with a sense of completion.
2. Evaluate the Past Year - Take some time to look at your goals from the previous year and analyze how well you did in meeting them. Also, look at your profits, sales and marketing from the previous year. Doing so will help you plan attainable goals for the next year.
3. Create New Calendars - Start planning now. This is the best time to begin scheduling and mapping out the next year because once you get into the new year these things will quickly fall off your radar. Consider things like events, roll-outs, product releases, deadlines and so on. Put them into your calendar and put that calendar somewhere where you can easily view it.
4. Strategize with Your Team - If you have a team, employees or people you work with, make sure everyone is on the same page in regards to the future of the business and present circumstances. If one person is behind or is not in agreement, the entire team can fail. Collaborate with your team to create goals and plans for the next year.
5. Get some rest - You've worked hard this year. Don't overwork yourself into the next year. Take some time to rest up and spend time with your family.

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.