How to Kick Start Business Planning for the New Year

Since the last century, this New Year will be the first one to occur during a pandemic. With all the changes that were thrown at us, how would one also pivot his business to adapt to the new normal New Year? Whether you like it or not, everyone will have to adapt to the change. It’s not about leaving the past to change the old but changing the old to fight for the present. 

Set Next Year’s Goals 

 Before you make your business bucket list, make sure you set those that will help you achieve what you want to achieve. Have supporting goals that can be your stepping stones for your bigger targets. Your expectations for the year should be aligned with your larger long-term business objectives. Have an action plan or proposals prepared this year before stepping into the New Year to actually start them. After all, business goals are not your typical diet plans that you choose to do tomorrow over and over again. Start to execute your plans of action one at a time despite slowly achieving it. Slow is still progress. 

Prepare Tax Documents

  You may be your own bookkeeper or tax preparer as an entity, but thanks to accounting software applications and other resources willing to offer worthwhile tax advice, it is reasonably easy to file your own tax return. However, for a small business owner, it may be easier to get the taxes done by a tax specialist. You can never go wrong hiring a professional!

Set a Plan for Bringing in Revenue

  To attract revenue, think about what are the New Year’s trends that you can incorporate into your business together with the New Normal. Digital natives most likely would rely on digital trends. Observe these trends as these most likely dictate the execution of trends that can also impact your profit. If you’re in, the profit goes up! If you’re out, it would be much harder for your business to ‘go with the flow’, right? 

Divide the New Year 

  Don’t view the incoming year as a whole. Instead, break the year into smaller parts! Divide it into monthly metrics and create a quarterly calendar goal schedule. That way, you can easily tweak the plan details, monitor performance, and take a proactive look at your promotion, sales and development efforts every certain number of days, while keeping a close eye on the outcomes like revenues, projects and customers. It’s hard to eat a cake whole, but it’ll be easier if you slice it into bite sizes!

Refit Your Business Model

  With the many impediments that 2020 has set forward, it has been impossible for many organizations to operate as normal. However, social distancing does not mean that your services are no longer desired by your customers. Both online and face-to-face, consumers do focus on businesses that can deliver value. Digital versions of their goods and services have been launched by businesses with the potential to change. Also, it might be better to have a disaster-proof business plan in case, God forbid, another pandemic happens in this age. 

Multiply Online Presence
  As more people and businesses have migrated their presence online, amplifying your online presence for next year will be a big brain move. Choose the right content to post at these trying times. Remember, the more people can relate, the more they will engage. Post online consistently! No one likes business accounts who only go online once in a blue moon.

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