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