From a business owning perspective are you on track? Has 2018 kept on track? Did the simple economics of sales less business costs leave some profit?
As we head out of 2018 and pull a few crackers and enjoy some well earned merriment, it is important that all business owners take stock of the current year and prepare for 2019.
While a new year always brings anticipation, a new canvas to work from we also have to factor in early Spring 2019. Whatever happens we owe it to ourselves and the businesses we work hard for have the opportunity to not just survive any impact of change but survive throughout the rest of 2019.
One way of doing that is to review the current year and prepare for the next.
A year end review no matter how small your business, is vital for continued progress and growth. So before you hit the pause button, pull a few crackers and recharge those batteries, set aside some time to carry out that important review.
- Start your review by setting out your accomplishments first. Set the tone to be motivated to continue with your review. What worked well? What can be repeated? What do you want more of?
- What didn't work? Don't worry, life happens. Can you do it in 2019? Or is it not worth it?
- What are your biggest challenges for 2019? How will you over come them?
- How does your customer base change in 2019? Will the political landscape impact them?
- What did your customers say about you?
- How will you replace any lost customers? How will you market? What new avenues can you explore? What budget can you set aside for this?
- Does your pricing need to change? Costs for running a business tend to go up so your pricing needs to cover your overall costs. Could you save costs by reviewing your insurances and suppliers?
- Are YOU working flat out? Can you factor in more down time to enjoy a better quality of life? A business needs it's business owner at it's best year round. Get that rest when it's needed.
There's a lot to be said in the cliché – failing to plan is planning to fail. Before you down tools and put that out of office message up, give your business the very best start it deserves for 2019.