As we end the year, I always consider Thanksgiving as the beginning of my countdown. It is my favorite holiday of the year and I traditionally host a large group of family and friends, anywhere between 10 and 18. Yikes but so wonderful. But it is also starts the clock for the end of the year. Once the turkey leftovers are eaten, no matter what business I have been in, my clock is set to create next year’s business planning.
Business Planning Strategy
This is a fast and furious time to complete any last-minute goals and create new plans for the next year.
is completing sales goals or as I call it “dialing for dollars”. Finding all those last-minute sales to finish off the year with a flourish. This may be why “Black Fridays” were created.
is taking thoughtful time to create new business plans for the following year. From deciding to double down on what has worked well, or trashing something and starting anew. This is the time to rethink what worked well this year and what you need to change for next year.
- Taking time to create your next year’s business plan is very critical. Without it, next year’s business can be set up for failure.
- You have to do a thorough review of your present year’s plan and analyze what worked, what didn’t and map against current market trends and competition.
- Technology changes. Social media platforms change. New programs are available. You have to incorporate into your future plans.
- As your business evolves, you may need to purchase new software, hire staff, and take other steps that will impact your growth.
- Very important and often overlooked is — you need to consider if you are doing what you love. If not, what can you change so you do?
For example, with us, we see the main focus of our business in three areas. We always examine each year by these three goals. #1 passion, #2 lifestyle choice, and #3 profitability. Not necessarily in that order, but all three key components need to be evident.
We love coaching our clients. Besides seeing how our advice is making a difference in their business lives, we love the interaction. We love the creativity we can bring to the table to help someone transform their business to reach and exceed their own sales goals. Sometimes it is also about streamlining their marketing, so they have more quality time for their business and personal life. So, for us, we need to examine if we are working with the right clients and making the difference that we want to make. We want it to be a passionate experience.
#2 Lifestyle Choice
Our objective is to become digital marketing nomads. So, our processes and services we offer must be compatible with the lifestyle we are striving for. This is a big one for us. Each year, we have seen our business model change as we evolve to this lifestyle we envision.
If we don’t like what we are doing. If it is not creating passion for us every day, we want to rethink it. We both like to travel and enjoy our motto of “laptop will travel”, so having a business that is portable is paramount to us.
Obviously, we need to eat and pay our airplane bills, so we must generate a certain income. We need to be sure that our services reflect the amount of time and expense we put into them. Where we can leverage courses or group sessions to offset the time we spend on personal coaching is important.
Ideas for Your Business Planning
So, if our business doesn’t support those three focuses, things have to change. Each year we make new tweaks to support our goals. With that in mind, we have decided this year that we will need to overhaul our services. We will be narrowing our focus on particular marketing strategies and to a specific audience. This requires offering specific services with a narrower people niche. We will be focused on a more process driven structured approach. This will allow us to provide support on a deeper level with those that are the right candidates for our services. It also requires adding new staff.
With that in mind, we have been strategizing and making adjustments to reflect our new goals. We are making updates to our website with a new message, creating a new lead magnet, etc. to reach our specific avatar.
If you have not thought about the pros and cons of your business and where it is going for next year, I highly suggest you do some soul searching like we did.
- Take a look at your goals. Does your business support you the way you want it to?
- Are you having fun?
- What changes may you need to create to have a powerful successful new year.
- Does your messaging need to change?
- Do you need to change or add new services?
- Is your website out of date?
- Are you attracting the right audience?
- Have you thought about how to incorporate SEO next year?
- Will you need to make a financial investment in your business?
- Determine what new skills and specific courses may be required.
We are on the countdown for next year’s business planning. So should you be on a countdown. We all have one month left to kick off for next year’s success. Let’s go.