Make This Your Best Year

Make This Your Best Year

As you launch a new business year, it’s a great time to lay the groundwork for success! Below are some steps to create a successful year:

Conduct a Financial Check-Up

  • Check your Profit and Loss, Income and Expense reports.
  • Review your sales reports to identify profitable and sub-par performance areas.
  • Analyze sub-par areas and decide whether to eliminate or strengthen them.

Review Your Business Plan and Overall Strategy

  • Set aside time in January to plan.
  • Review your organization capabilities and your staff expertise.
  • Identify new products and services you want to add.
  • Revise or create a plan for increasing business in your areas of strength.   
  • Set achievable stretch sales targets for the year.

Prepare a Budget

  • Compare last year’s projected budget against actual expenses.
  • Prepare a new budget and conduct regular budget reviews.
  • Be sure to factor in upcoming expenses and allow for changes in marketing strategies.
  • List areas to cut if profits or cash flow run below expectations.
  • List contingent opportunities to add if cash flow runs higher.

Create a Marketing Plan

  • Evaluate last year’s marketing mix and the performance of your marketing channels.
  • Review and freshen up your marketing message.
  • Create a marketing plan that will support objectives for the upcoming year.
  • Plan your marketing activities to support your sales efforts.

Reach Out to Customers 

  • Review and update your customer contact information.
  • Renew contact with lapsed customers, and touch base with your existing customers.
  • Let your customers know about the changes you have made to your business
  • Ask for referrals from some of your best customers.

There are only so many hours in a day.  Need help accomplishing these tasks?  Let’s talk