A new direction and strategy can strengthen your business
December flies past and before you know it, Christmas has hit, the New Year pops up, and we seem to spend the entire month of January recovering.
While it is tempting to take January slow, waiting for others to come back from their breaks, there’s an opportunity to use the month to properly review and plan the year ahead. Use the time wisely (after having your own break, of course!) and re-connect with your business plan.
What’s so important about a business plan?
A good business plan reflects what your intentions for the business are, and what data you will base decisions on. A mediocre business plan will remind you of the basic information providing the framework for your business. A non-existent plan will often see business owners floating along year-to-year, relying on reactive decisions to base business decisions on.
Business plans can be hard work but they’re an investment in time that can pay enormous dividends in times of change and uncertainty. Plus there’s always the option of outsourcing the difficult parts, although you will still need to be a part of the process. It’s your business, after all.
New Year, fresh start.
If your business experiences a lull in the New Year, invest that time in making sure your business model reflects the direction your want your business to take. Think about your short and long-term goals. Check out what your competition are up to. Spend some time analysing changes to your customer demographics.
Most importantly, review the values, vision, purpose/mission to ensure they are still serving your business.
Questions to ask yourself:
What ideas have you seen elsewhere that you’d like to implement in your own way?
Have you wanted to make any changes, like updating software, hardware, capital infrastructure, processes, marketing, etc, but not known where to start?
Are there new services or products that you would like to try offering? Are there any that you should stop offering?
Where to start?
If you are unsure where to start, contact Spindle Consulting to arrange a complimentary initial consultation to prioritise your business needs. Spindle can assist with business plans, facilitate strategic planning sessions, provide business analysis and recommendations for changes.