The end of the year is a great time to take a break from operations, evaluate the year and make plans for the incoming year. And since this is the third week of the year, you should have the year planned out for your business already.
Planning not only guides us through the year but also helps us to measure our results. Of course, the point of a plan is not to rule out opportunities but to make sure that we consider as many factors as necessary and channel available resources into productive use.
That said, here are four things you should consider integrating into your plan for this year. And if none of it is part of your plan already, then you should consider reviewing the entire plan.
New hire- while you don’t have to hire someone every year, it does help to have a fresh brain on the team, especially if the plan is to expand. They can offer refreshing insights on products development and market trends. If you can’t afford to take on full-time staff, then a remote worker would be a good idea. Plus, this is also a way of giving back to society.
Tech update - new technologies are emerging every day which means that the previously existing ones are becoming obsolete. Up-to-date tech does not merely improve efficiency and productivity, it doubles it. It also helps to cut costs, effectively manage time and eliminate bureaucracy.
New partnerships - partnership opens us to possibilities and opportunities ordinarily beyond our reach or that we would not have been aware of otherwise. Evaluate your current partners and their contributions to your business in the past year. Negotiate better terms with your partners, drop redundant partners and partner with new businesses.
Auto-pilot - work on a system for your business to run smoothly with less supervision than is usually required. This will give you enough time to work on other projects. Creating a self-service system for customers will mean fewer disputes and contribute to a great customer experience. Automating recurring activities and strengthening the communication system within the organisation will allow the staff time to get their hands on other things.
Conclusion
Although every business is unique in what it needs to thrive in the market, these four tips apply to every business. And you don’t have to force all four of it on your business. Take time to evaluate your business, identify your needs in line with emerging market realities and apply the relevant ones to your business.
