There is something invigorating and exciting about the start of a new year. You can put behind the previous 12 months and wipe the slate clean with the promise of fresh opportunities and new horizons. This is never truer when thinking about your business. You know that success is possible and waiting for you – so we want to share with you how to ensure you hit the ground running for 2017 with the right business planning for the New Year.
Setting goals and establishing a plan on how to achieve them could be one of the best things you do this year. It may sound like common sense but the mere act of sitting down and setting out a plan is in itself one of the stepping stones to success – and it’s one of the ways to ensure you hit the ground running for 2017.
Here are a number of the specific areas to look at in your business planning for the New Year:
In the area of money mastery, what are your financial goals for 2017? What are your revenue and profit targets? What are your reporting goals and how will your forecast look? A great exercise to do in relation to your business plan is write down your three main objectives in connection to these.
Next you need to consider delivery mastery. How will you deliver your products or services to meet your financial goals? How would you be able to improve on your customer service? What will you put in place to make it easier for customers to buy from you? What’s going to make them say “WOW!”?
Think now about Time mastery. Define important and urgent tasks and learn to delegate appropriately to ensure that you’re spending more than half your time on the truly important tasks – those that will have a meaningful impact on the value of your business.
What about your niche? How clearly and compellingly is it articulated? Can you get more detailed and specific about who you target? How can you increase the frequency of purchase? Is there room to adjust your margins?
Another focus ought to be leverage. Are you confident your team knows and understands your company’s vision and purpose? Is it clear to all who you are and what you do? How do you measure your staff’s performance?Are they empowered to do their jobs, is it clear what those jobs are and are you all accountable for your respective contributions?
It’s not always easy to turn the spotlight on yourself but how would you rate your management and leadership? This is an important key to business success. How would you want to improve on your management and leadership skills? What else can you do to get the best out of your team?
Last but by no means least are two areas: synergy and results. With synergy, will you be factoring in time to launch a new product in 2017 or expand geographically? As for results, well, that’s the Holy Grail, isn’t it? What are your personal goals for your business? Make sure you factor in time for health and wellbeing as well. There is no point running a business if you are not well enough to do it!
Check out these great resources on business planning on our resources page here, you can download these for free. Happy planning!