Every year ushers in new clients, trends, challenges, and opportunities — is your business ready? It can feel like there’s not enough time to turn around from holiday parties to peak wedding season, but with some careful planning, you’ll be fully prepared to take on the next year with poise and confidence.
Sure, we often enter the new year with all the hope and dreams that accompany our lofty resolutions, but the hard part is sticking to those goals throughout the year. January is one thing, but how will you have progressed by July? December?
The next couple of months is the perfect time to assess, evaluate, and rethink your business processes for the year ahead so your business can be in prime shape for 2020. Here are a few things to consider as you prepare your business for the new year.
Review and reevaluate
Now is the time to look back at the past year’s worth of events and evaluate the successes and failures of each. Even if you do a post-event recap with your team, busy season has a way of pushing you right into the next event, so you don’t always have time to address certain issues. Use this transitional period to identify what has worked within your company and the client experience, as well as what hasn’t been working — and how it can be solved.
Get real with your goals
Setting goals may seem like an obvious way to kick off a new year, but there’s a big difference between a goal that is set with intention and strategy and one that is not. Consider what you would like to change in the future, whether it’s something you want to increase or decrease. Perhaps you’d like to increase your social media followership or maybe you’re eager to decrease overhead costs. Think about what would make your business better in the next year and get specific with what is achievable. Stretch yourself, but keep it achievable and measurable.
A few good examples:
· Increase corporate event bookings by 25%.
· Earn 5 extra positive reviews per month.
· Increase revenue from B2B streams by 5%.
· Decrease cost of goods by 10%.
Create your roadmap
A goal is nothing without a plan, so you’ll need to break each of your goals down into manageable objectives throughout the year. Slow and steady wins the race. If you’re looking to increase social media followers, for example, set some benchmarks throughout the year and brainstorm some strategies that can help you reach them. Maybe you experiment with advertising in Q1 and content marketing in Q2 — you know your business (and your target audience) best, so tailor it in a way that is best received.
Reconnect with creative partners
In addition to developing an internal plan for success, the new year is also a great time to commit to strengthening relationships within your network. Your creative partners are excellent resources that can support you in reaching your goals, whether you want to earn more referrals or start a new product line. Schedule a coffee date or shoot over a social media message to reconnect with industry peers that you have fallen out of touch with. Remember, the best relationships are mutually beneficial so look for ways you can help them, too!
With these tips up your sleeve, you’ll be on your way to a successful 2020 and you’ll find yourself that much closer to your big-picture goals. Be consistent and determined and you can’t go wrong.
Kevin Dennis is the editor of WeddingIQ and the owner ofFantasy Sound Event Services, a full-service event company based in Livermore, California. Dennis is the past president for Silicon Valley NACE, and current international president for WIPA.