Business Goals For The New Year – Part 2

  • Photos by:
    Taneli Lahtinen
  • Published on:
    December 29, 2018
  • Reading time by:
    6 minutes

It is almost here! The new year is just around the corner and as business owners, we are excited for what may lay ahead. We have almost marked an end to another year of marching on with our businesses, working hard, heads held high, and conquering adversities in heels. However, a smart women must always be prepared with her business and what better way than to set her goals higher. If you haven’t read part 1, click HERE.

Find new opportunities for networking

Networking in your industry is advantageous to your business. Through this, you could be introduced to an individual who could potentially elevate your business. Whether this is for marketing, your production, advertising and so on, there is potential for getting a new angle in your business. This individual could have a whole host of contacts that may now be within reach. 

Work on your personal brand 

Your brand is your identity and should speak to what you want to achieve, what is your aim and what is your goal. Ensure you work on enhancing your brand through the eyes of your customer. This includes a logo or caption that encapsulates what you are all about.

Revamp your business plan

Now is the time to look at your business plan and rework it. Add or remove costs, keep an oversight of each strategy you have in place and define what it is you wish to achieve in the new year. Ensure you have done a thorough analysis of your market share and your competitors including the newbies. 

Schedule a holiday plan from your business

All work and no play is a call for burnout. Give yourself a break occasionally to refuel and reenergise your oil machine. You need to be refreshed when taking on new business decisions and new risks and the holiday time could strike inspiration in your business. 

Create your own e-book

If you have not done so already, consider creating an e-book. The outline for this is dependent on you and your business. Do you see yourself creating a biography on how you started your business, or is it a new strategy or technique you wish to share with your followers? Use this as a marketing tool for your business as it shows you are expert and know what you are talking about.

Set your budget for the year 

It is imperative that you set aside your budget for your business. This is derived from your business plan and your strategies that you may put in place. In this case, less is not more and so you should be prepared for costs that you may not anticipate. 

Launch a how-to series in your niche

Something fun and exciting could be a how to series teaching others how to start their own business. Giving real life examples of your own as well as combative strategies will ensure a completely new audience flocking to your site. 

Conduct a SWOT review 

Along with your business plan is your SWOT review, which encompasses your strengths, weaknesses, opportunities and threats. Ensure that when you conduct this, you remove yourself from your business and look at it from an outside perspective. Be honest and note each point under the review. This is important in identifying where you are, where you want to go and what is holding you back. 

Generate more revenue streams

A business exists to make an impact and to grow a profit. With new competitors entering the market, businesses need to be creative in their ideas and delivery. You could offer new products and services that compliment your current offerings. Convert your generated leads into paying customers with renewed sales efforts. Improve your SEO to rank high up in the search engine so potential customers can find you easily. Raise your prices slightly higher, customers may not mind as long as what they are acquiring is of high quality. 

Show appreciation to employees

As much as we want to drive employees to work hard and put the business out there, we need to appreciate them and make them feel more than a mindless employee. Ensure you are incentivising your employees and listening to their grievances. Ensuring you have an HR department goes a long way. Benefits, holidays, higher pay, recognition and reward, culture, performance pay etc. are some of the aspects that could be explored and implemented. 

Read part 1 Business Goals for the New Year

Sheinna Mungroo

A South African native undertaking her Master’s in Human Resource Management. Her primary objective is balancing the needs and goals of both the company and the workforce to create a harmonious employee-and business-centric atmosphere whilst improving the standing of women in upper management. She’s an avid lover of books, fashion, beauty, the arts, flowers and cool notebooks. She was also a Finalist for the Miss India South Africa 2017 pageant. Sheinna believes in exploring as many creative streams in life as this is a form of expression and a link between our internal and external worlds. When she’s not painting up a storm, she loves exploring new cafés and chocolate desserts. 

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