Lions and tigers and bears – oh my! No need to be afraid. It's a new year and it doesn't have to be scary. As a business owner or manager, now is when you can give yourself the best chance for success. Here’s a new year prep checklist to use as a guide.
Review the Current Year. Take a real, honest look at what was achieved and what was missed. Celebrate your accomplishments with a 'Bravo!'. This is a great time to learn what could have been done better and adjust.
Set Your Goals and Actions. Where do you want to be at the end of each month, quarter, and year-end? Typical goals include sales, number of new customers, retained customer rate, and similar metrics. How about a training goal for you and your employees? What about buying new equipment or technology? Maybe expanding your product/service line. Write out your goals, create the steps to get it done, and share it with your managers and key staff.
Create Your Budget. Money is one of the important drivers for you and your business. Set a practical budget. Review price points, product/service offerings, sales channels, inventory mix, and other facets that impact your revenue and expenses. BTW, the other important driver is time and how you use it.
Create Your Marketing Plan. This strategy is one of your most important investments. Be sure to include seasonal and other special promotions, messaging to each segment of your audience, appropriate media, and where you might find new markets.
New Laws, Rules, and Regs. Government always has something new from tax rates to new ordinances. Make sure you know what changed. Ask your financial, tax, and legal advisors for assistance. Remember to update the labor law posters and other human resource materials.
Insurance, Maintenance, and Security. The value of your assets changed. Ask your insurance agent to review your business coverage. Same with updating your security alarm system. Refill first aid kits and check expiration dates and test AED defibrillator batteries. Confirm your current preventative maintenance schedule is up to date.
Connect with Customers. A personalized message from you has value. It can be a simple “Thank you for your business” or a “Happy New Year” note. This is a sincere message NOT a sales pitch, advertisement, or call to action.
Setup Year-end Close Out. It’s busy enough coming out of the holidays. Make things easier for yourself and your team by getting as much ready to end the current year. Might only be a little, but every bit helps.
Set Your Vacation Time. This is motivation for yourself and your family. Everyone needs a break. When you’re refreshed, your team reflects your renewed energy. Take time for you. You deserve it!
Last item: change your computer system passwords if it hasn’t been done in six months. A better schedule is to change passwords when the clocks move for daylight savings time.
Success has a better chance when you have a plan. Wishing you all the best in the coming years!
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John Safin, Chief Encouragement Officer for C & C Business Advisors, is an innovative leader with over thirty years of diverse experience in executive management, community relations, economic development, and marketing. His 'always be coaching' philosophy creates best-in-class results while providing vision, guidance, and strategic direction to his clients. Visit https://ccbizadvisors.com/ to learn more.
