It is commonly said that you cannot expect to be doing things in the same way and expect a different result. Therefore, as the new year approaches, you must position yourself and your business on the right side of change. As a business owner you may be asking yourself, how will next year be different? What should I work on in the new year? What should change about my business? To help you get started, we now offer some useful tips on what you can do differently in the new year.
Set S.M.A.R.T Goals
Starting the new year is not only about writing out your business goals. You must ensure that the goals you set are Specific, Measurable, Attainable, Relevant and Time-bound. You can set daily, weekly, monthly or quarterly goals in the new year. It is also important that you note down measures that would help you attain the goal. Also, in writing out your goals, pay close attention to the mission and vision of your business. Your vision, mission, and values should all be clearly stated because doing so will enable you to develop a plan of action to carry it out. Everything will be impacted by your plan, including the number of staff you hire and the kinds of products and services you provide. You must also ensure that your content marketing strategies are in alignment with your goals.
As a business owner, there will be different promising opportunities and businesses you may be tempted to delve into. In the new year, before you accept any business idea, carry out your due diligence and research to be sure that the business idea will not crash. Have adequate knowledge of the opportunities and capital needed to start up any business idea so you do not start the New Year with regrets. It is better to be known for your strength in an area than to be known for different ideas that have failed. Take calculated risks as this may greatly impact you and your business.
Conduct A SWOT Analysis
A SWOT Analysis is a plan highlighting your strengths, weakness, opportunities, and threats. Either monthly or quarterly, conduct an analysis evaluating your business to know what you need to improve on, learn ideas you need to develop from your competitors, and funding opportunities. Be open to feedback from clients and staff members, so as to know what to improve on. Capitalize on your strengths and use them to create a strong reputation for your business.
Prioritize Skill Aquisition
Next year will be different for you when you are determined to try new things and acquire new skills. Look at the top skills that are in demand in your business and learn them. For instance, before you make the decision to hire a social media manager you can take up courses on social media management to grow your online presence for your business.
Invest In Your People
In the New Year, plan to make the workplace more conducive for your staff members. Give room for feedback as a business owner and prioritize their satisfaction as well. Organize training sessions regularly and allow for periodic meetings to receive input on how to increase sales for the business. As a business owner, you can reward staff members quarterly as a way to increase productivity.
Grow Your Online Presence
You might have done this in the year 2022. However, next year is a year to focus on growing your online presence as a business as much as your offline presence. Investing in social media marketing in order to increase engagement with your business. You need to ensure that you maximize the opportunities available on social media to grow your business. Social media is a great avenue to spread the word about your business faster and to a wider audience. Most times, people would want to patronize businesses that have a solid reputation and also garnered reviews on their website or social media page. Also, developing a social media calendar for each month will be a great tool for building social media presence.
This is the time of the year when you reflect on the outgoing year, look into the future and make plans. This will help you learn from past mistakes and plan out ways to improve on your business strategies in the new year. Also, in the new year, you must prepare for the best and the worst in order not to be caught by surprise.
Kudi Konsult is Nigerias No 1 Platform for all your Business Support Needs. On one platform you can get Business Registration (CAC), Trademark Registration, Business Plan Writing, NAFDAC Registration, DPR Registration, Money Lenders License, Corporate Profile & Logo etc