What can you do to make your business more successful this year?
Now’s a good time to reflect on 2021 and on your business' progress. There's no denying that it's been a slightly demanding year for everyone, and that includes your business. Reflecting is a key part of developing, growing and becoming more successful in the future. It helps to understand not only what's gone well but also what you could do differently this year.
Here's a few things you could think about to increase your business success...
- Define what success means to you
It's fair to say that all businesses would like to be 'successful', but every business' definition of success will vary wildly. Success will greatly depend on what kind of business you have, as well as your lifestyle and what your goals are. To name but a few, success could be high profits; being a flexible business owner; making a difference; or creating products or services that people love. It might be useful to make a list of the reasons why you started your business and what you want to achieve with it, this will usually steer you in the direction of what success means to you.
- Set out the year in quarters
Things change, and fast, so instead of solely thinking "what do I want to achieve by the end of 2022?", it might be worth thinking of the year as four three-month chunks. This way you can set smaller, achievable targets for each quarter. Following a quarterly plan is a more efficient way to keep yourself and any team members on track and motivated, as their end goals each quarter are more approachable and manageable. A quarterly plan also allows you to make short-term goals that help drive the company’s longer-term ambition. Annual planning can still be important, but essentially quarterly planning breaks down your annual plan into easier-to-manage building blocks.
- Give back
It is becoming increasingly important to consumers to know that they are purchasing from a company that is giving back. According to Forbes, more than 88% of consumers think companies should try to achieve their business goals while improving society and the environment. ‘Giving back’ can look different for everyone, and there’s a whole array of ways to do so. This could be as simple as donating a percentage of one chosen product to a cause that matters to you. You could alternatively donate time instead of money if you’re not able to donate financially yet. Another way to build a business that gives back is to look at your supply chain. Try and make conscious choices of where you are spending money and try your hardest to purchase from ethical companies.
- Promote your business regularly and consistently
From social media and blogging to responding to customer reviews and replying to emails, your content needs to maintain a consistent voice, tone, and style. The amount of content, and when you publish, is also important. Keeping a regular strategy not only helps create better credibility and brand trust but also builds a better customer experience. You could use google analytics, or a similar platform, to find out when your engagement is highest, then plan your blogs or social media posts around this time every day, week, month, depending on your schedule.
- Make time for yourself
You are the most important resource for your company. To make your business the best it can be this year, it’s important for you to be looked after too. Portugal’s announcement last month that they are making it illegal for employers to text their employees outside of work hours just shows the importance of having that work-life balance. If you struggle to find personal time, make sure to set aside dedicated hours in your diary for you. It’s also important to learn to say ‘no’. Figure out whether you have the time and energy to complete tasks coming your way, and if you don’t, don’t do it.
There’s a reason we haven’t called these ‘new year’s resolutions’, as you can probably count on one hand how many you’ve actually stuck to over the years. However, there are strategies that you can implement throughout the year to develop your business in the right way.
We cannot control the pandemic and what that may bring for 2022, but we can control how we react and adapt to it. You know your business best, and we have every faith in you that with your knowledge, experience, and the above tips you can strive for success this year.
Here’s to a prosperous, happy, and healthy new year.
P.S. Why not resolve to come to our great events in 2022? See what's coming up, click below.