The year 2018 was a great year for few, an average year for some, and a bad year for many. Whatever it was to you should not be allowed to define the results that you hope should come out of the new year.
With most businesses starting operations already and getting set to take on the year, how can you ensure you’re prepared and better positioned to have achieved success by the end of the year?
To raise your chances of building a thriving business in this new year, here are 3 things you must do to get your business set for success:
See Also: 4 Early Investments Every Entrepreneur Must Make In 2019
1). Properly Organise Your Books And Reflect On The Past Year:
How much revenue did you generate in the past year? What was your net profit? How many new customers did you gain? How many old customers did you lose? What products or services did people demand the most? Which did they demand least?
It’s important that the first thing you should do in the new year is to reflect on every single expense, revenue, profit, customer gained, customer lost, and much more that your business was involved with last year. Find out what was worth your time and what wasn’t, and cut off any bad eggs that appear to have halted or slowed down your progress rate in the previous year.
By properly organising your books and reflecting on the past year with your team, you can better position yourself for success.
2). Make Plans And Immediately Set Them In Motion, But Be Flexible:
With your reflections, you can plan the new year better. It is ideal that you spend quality time with your team members to determine how best to approach the market, how much time you should spend testing new models, whether you should approach investors for funding, and what you should avoid by all means.
When you plan, you can determine what areas your company can generate its most revenues from and as such, appropriate more resources to. Here you’ll also determine what areas to cut your deep-eating expenses and in the process, may have to painstakingly let go of some employees who add little to no value in the organisation.
While planning is good, it is key to know that every plan is useless unless put into action. And this means you have to immediately act on your plan if you’re going to get any real results from it.
But in execution, you must be flexible and emotionally balanced when disappointment hits because not everything always goes according to plan.
See Also: 10 Key Reasons To Write A Business Plan
3). Prioritize Your Clients and Customers:
The new year is also the best time to prioritize your clients and let them know they’re what matters to you the most.
Everything you do in your business must reflect excellent customer service, and in the process, will build a new perception of people towards your business. You must show that customer satisfaction is what your business exists primarily for, and you must do everything to ensure that whenever you’re done serving a customer, they’ll run to tell everyone about your business and how different you are from everyone else.
4). Review Your Daily, Weekly, and Monthly Progress Rate:
As a follow up to your planning and execution, you must always review your progress rate on a daily, monthly, and weekly basis to ensure you’re on track and are steadily approaching your goals.
Go through the list of everything you’ve marked to achieve for the week and review how much you accomplished. If you fell short, find out why and correct it over the weekend, so that the next week can be successfully completed.
the more goals you can achieve, the more fulfilled your year will be, and better prepared you will be for the year that follows.
See Also: 7 Simple Changes That Immediately Make Your Business More Attractive To Investors
What are your thoughts on these 4 things you must do to get your business set for 2019? Let me know by leaving a comment below.
