As an entrepreneur, there’s always so much to do, to plan for, and time seems so limited. At the turn of every new year however, it gives you a unique moment to stop, breathe and evaluate. Whatever you do, please take this time and use constructively to recalibrate and realign your efforts for the year ahead. Here then, to help with your 2022, I’ve made a list of responsibilities to focus on if you are business owner, that you might want to tackle right away.
What are your financial goals?
Top priority should be your financial goals. Need to review how long your business has been around, how successful (or not) you have been, and exactly what you are looking to achieve in the new year. Set reasonable benchmarks, Set yourself up to win. And just in case… have a Plan B. You never know.
Do a comparative analysis with other companies in your field. Nothing wrong with assessing wat your competition is doing. This gives you perspective as to where you are and how far you’ve come or need to go. Examples include objectives and key results or specific, measurable, achievable, relevant and time-bound frameworks.
Automate, Automate, Automate
AI is changing the landscape of how we work daily. We now have the tools to be more efficient, result oriented, task oriented and accomplish more in less time, while being able to focus on what really matters: growing your business.
Research the best remote working options
Whether it’s remote working on a full time or contract basis, or freelancing to complete ongoing projects, or continuing to increase market share, remote working in any form is here to stay. Each business will have to define in what manner they need to include it in their business model since this, more than anything else, will be the defining work trend of this generation.
Are you marketing efforts proving effective?
Are your paid ads, social media campaigns paying off? What is the most effective marketing campaign for your business? How do you cement your relationship with existing customers? How do you get new ones? All important questions that create a necessary blueprint for your business.
3 questions every business owner needs to ask:
- Who is our customer
- What is our market?
- Why our business and not another?
You need to evaluate if monies spent are going towards increase in sales and market share. Your WHY is vital and makes everything else work.
Find a Coach/Mentor
Guess what? You don’t know everything. There’s always something new someone can teach you or show you to apply to your business. A trusted advisor is an invaluable asset to your business. Find someone who has either industry experience OR has been in your shoes. True coaches/mentors love to share their knowledge and experience, if only to be able to revisit what their accomplishments or failures have done to change their businesses and their lives.
“ There are two types of entrepreneurs: people who benefited from having a mentor, or people who wish they had benefited from having a mentor” - Unknown
Annual Review
Start the year by reviewing the last one. No business owner is an island. Keep your team informed as to how you’re doing and what’s coming next, and you’ll get greater buy-in and enthusiasm than if you keep them in the dark until the day of changes arrives.
