The start of a new year is usually a time to reflect on the lessons learnt in the previous year, it is also a time to start planning for the year ahead and setting milestones to achieve key business goals. Businesses have to ensure that they continue to strive towards meeting the goals they have set for the business.
Here are seven ways you can prepare for the year ahead
1. Revisit your mission and vision statement
Relook at your company's mission and vision statement to help you remember your end goals. This can help to remind you what you are striving towards and the progress you have made to achieve your company's vision. Readjust the vision as needed and also remind your employees of the vision.
2. Handle your money goals
One of the most important factors you need to take into consideration in your annual plan are the company's finances. Analyse the company's current financial position and make financial projections for the next financial year. To help with this you can hire a bookkeeper who can ensure that your books are accurate and up-to-date throughout the year.
3. Analyse the internal business situation
Conduct a SWOT analysis of your business. Look at your business's strengths, and how you can further develop them. Also, look at how you can turn your weaknesses into strengths. Identify opportunities to eliminate or reduce any threats that you are currently facing as a company. A business consultant can help assess all these aspects of your business.
Find a business consultant now
4. Identify external business factors
There are some aspects of business that you will have little to no control over. Being alert to external factors like the lockdown or the economic recession can help prepare you for these and other unfortunate circumstances. Take into consideration the political, economic, social, technological, legal and environmental risks that may affect your business.
5. Hire additional team members
Your employees are one of the most important parts of your organization. Identify which departments may need additional team members in the upcoming year and put together a hiring strategy to get additional help. Hire a recruitment agency to help with identifying the right employees.
6. Understand your customers
You must understand your customer's needs and wants. Customers are ever-evolving, it is therefore important that you continually analyse how well your business is working to meet their expectations.
7. Join the digital world
Digitisation has come to the forefront as a result of COVID-19 and the need to transact online. There are digital tools such as online marketplaces, e-commerce and content marketing that can help your business make the move to online.
How Serv Can Help You
Serv is a B2B marketplace for SMEs. The benefit of signing up to the Serv marketplace is that leads or potential customers come to you. Once you have secured your leads all you have to do is convince them to choose your business over your competitors.
Serv gives small B2B businesses a platform to shine and compete with big corporations. Join Serv Now for as little as R150 per month and get qualified leads straight to your inbox.
