The end of the year is typically a time when business owners step back and slow down. I think it’s the best time of year to spend time planning for the new year ahead. Many individuals and entrepreneurs look at January 1 of any year as that magical time to put resolutions into place. If you wait until then and if your plans take time to bring to fruition, you may be missing out on valuable opportunities.
I take time on or around December 1 to look at what I did last year and then plan for next year. That way when January 1 rolls around I am armed with fresh ideas and a great way to kick off the new year.
Here are some of the steps I take to form my strategies:
- Look at what worked. You need to have metrics in place to help you understand whether you’ve met goals you’ve set. Look at what didn’t work. If something didn’t work could it have simply been bad timing? Was it a strategy that just isn’t right for your industry? Was the execution of it just a bit “off”? Don’t completely discard an idea, it just might need to be on the back burner.
- Look at ways to generate new leads and thereby generating more income. Again, what methods of lead generation are you applying currently that are working, what aren’t? Tweak them and have a new plan moving forward.
- Look at your marketing plan. Analyze your results. Measure whether the effort is worth the money realized. Revamp if necessary.
When do you set your business resolutions? What works in your industry?