Plan Ahead

SMART Business Owners Plan Ahead

We’re already in the maddening rush of the holidays. Everything is a blur from a few weeks before Halloween until right after New Year’s. This year, the first Christmas decorations in my neighborhood went up on November 1st! And I guarantee they’ll stay up until at least the first week after New Year’s.

It’s easy to neglect your business during all this activity (unless you’re in retail!). In reality though, smart business owners know that this is the perfect time to lay the foundation for the New Year. Here are some examples:

Networking – There are a lot of opportunities to connect with others. Holiday parties and get-togethers are perfect for getting to know your prospective clients and partners in a more casual setting. Instead of looking for opportunities to sell, look for opportunities to get to know something about the other person.planning

Review the Past Year – What worked well? What didn’t? This is the ideal time to take a look at what you want to keep and what you want to change in your business. Evaluate the return on investment of your different marketing tactics. Do you need to “fire” any clients? The ones who complain about your fees, or you have trouble collecting from.

Plan for the New Year – Now that you know what worked and what you want to change, plan for the new year. Do you have a marketing action plan in place? Have you set your financial targets? If not, take this time to do the planning so your business doesn’t lose momentum.

Take action – If you’ve decided to revamp your marketing materials in the new year start the process now. Talk to designers, get quotes, be clear on what you want. If you want to diversify your service or product portfolio, hire a coach or schedule brainstorming sessions with a colleague or partner. Be ahead of the pack and start taking the steps you need to implement your plan.

The new year is around the corner so don’t let it catch you by surprise!