New Year’s resolutions and setting goals for your business in the upcoming year will help maximize growth while decreasing potential stress. With the holidays rapidly approaching and buyers eager for the season, businesses small and large should take the opportunity to get ready for the new year. Whether the holiday season has your business in a bust, suffering from a slowdown, or is experiencing a boost in sales and revenue, prepping your business for what’s to come will help in the next twelve months. As the year closes, take care of your holiday “business to-do list” and check it twice. Here are six ideas to prim and prep your business for the new year.
1. Run Reports and Review Documents
Running financial reports and skimming through statements may not be the highlight of your day, but performing these tedious tasks is paramount for your business. There are a few kinds of reports to consider, such as a profit and loss statement, balance sheet, and cash flow statement. Taking the time to review documentation will help organize your business and put your records in good order. Remove old paperwork, correct mistakes, and update any licenses, so you can move into the new year knowing that you’re set up for success.
2. Set Goals For Your Business
With the year wrapping up, reflecting on your business and analyzing your accomplishments and failures will help prepare you for any upcoming challenges. Review all aspects of your business, including customer testimonials, employee feedback, and financial reports, while taking into account whether you met your previous year’s goals. Start the year with a clean slate and realistic resolutions after gaining insight into potential trends and changes your business may face.
3. Review and Update Your Website
Having a business in a digital era means some, if not all, of your business is run online, so keeping your website up to date is crucial. If your website is outdated or confusing to navigate and read, you could be missing out on several opportunities to grow your client base and company. Go through your website and make sure each link is working and your contact information is current.
4. Improve Your SEO Strategy
Staying up to date on your SEO strategy, making your website more SEO-friendly, and increasing your content output will help drive more traffic to your website. Start by assessing who your audience is and get an understanding of your customer. Produce content surrounding possible questions that your customers may have as they decide whether they should buy your product or if your service would be beneficial to them. As you update your website and produce more content, make sure that the topic of each page matches the content on that page to avoid fluctuations in your rankings as Google updates and changes its algorithm. Seeking the help of an SEO advisor can help drive more traffic to your website, ultimately growing your customer base and sales.
5. Spend Some Time With Your Team and Consider Staffing Needs
Whether your business is big or small, your employees are the backbone and critical to the success of the company. Schedule some one-on-one time with your team members and allow them to speak candidly about their experience, providing you with honest feedback. Another option is offering your employees anonymous evaluations, so they can be open about their experience, success, and failures. Make sure each team member is on the same page about expectations for the upcoming year and encourage their success in the next quarter.
After spending some time with your staff and reviewing last year’s sales, assess your staffing needs. Hiring new employees can be a challenging task, so determine whether your business could benefit from seasonal staffing or freelancers. If you decide to hire seasonal help, consider working with a staffing company, which can help in finding and screening potential part-time workers.
6. Take Some Time to Yourself
Running a business isn’t easy and can be taxing on you, your family, and your employees. If you’re able to, spend some time to yourself or with your family so you can recharge and reset before the new year. Plan a few days to get away and treat yourself so you can reenter your workplace with a clear head and a positive attitude, setting the new year off right.
The end of the year is the perfect time to prepare yourself, your staff, and your business for any upcoming challenges you may encounter. Getting the logistical side of your business ready for the new year is just as important as evaluating your team to determine how you can achieve more as a whole. With the holidays right around the corner, set your business up for success in the new year.