5 New Year tips for business owners
The New Year is a time to celebrate, but it is also a golden opportunity for you as a business owner to hit the ground running whilst your rivals are still nursing their hangovers.
1. Dig out your original business plan
It may now resemble an ancient parchment, but it’s still worth digging out. This is the original document that started it all. This is the document that you sat down and created when the idea of your business and the passion that inspired it was still fresh in your mind.
What’s changed since you wrote that business plan? What went right and what went wrong? What could you have done differently? What is there still left to do?
Revisiting your business plan allows you to get back to basics with your business and if you never wrote one in the first place then the New Year is a great time to make a start.
2. Make New Year’s resolutions for your business
That’s right, your business deserves New Year’s resolutions too. However much like the goals we set for ourselves these should be realistic goals that we can maintain long term.
What you decide to choose is up to you. It could be anything from reducing your energy bills by 10% to trying to get your business featured at least once in the local press without spending a penny.
Remember, "Be stubborn about your goals, but be flexible about your methods" – Not sure who actually said that, but they sound like they know what they are talking about.
3. Plan a promotions calendar
Planning out your promotions for the year will give you a good idea of any needs you may have in advance – such as knowing you need to order in more stock or purchase promotional materials.
Your calendar should include industry specific/seasonal events, such as the run up for winter being a popular time for double glazing firms to promote their services. You should also mark off generic events too such as Mother’s Day and Valentine’s Day.
Don’t ignore lesser known events such as National Sandwich or National Cat day. You’d be surprised how much attention these events can gain online and how cleverly some brands weave them into their promotions.
4. Make a list of your business needs
This sounds like a simple suggestion but in reality it’s much more complicated. Have you considered whether you will need to upgrade any technologies or software that your business uses? Will any of that require you to renew licences or leases? How much is all that going to cost?
What about your staffing needs? Will you need to hire new people or potentially reduce your workforce? Considering these decisions now will put you in a better position than reacting to them closer to the time.
5. Reassess your company brand
Does your business need a visual refresh – such as a new logo, signage or artwork? How does your brand perform online – do you need to consider investing in SEO or PPC to bolster your brand awareness?
Considering these questions now will help you to create a long term plan – such as putting a 12 month SEO strategy in place and being able to monitor the results at key points throughout the year.
Did we miss anything?
Let us know in the comments below and it may just end up in this list.
- Business Tips
- Local Business
- New Year
- Small Business
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