With the new year fast approaching, your planning for 2017 has probably been well underway. Companies both small and large should have every intention of moving forward and growing within their market each year. Even if you’ve finished your 2017 planning, or feel you have a decent idea as to your desired direction for your business in the new year, there are a few things that can be implemented in order to make this coming year your most profitable yet!
Set Your Income Goals for the Year
You should never start your day, week, month, or year without a clear idea as to what you want to achieve within that time frame. Implementing strategies without setting any specific goals for your business within the year is like driving at night with your headlights out. You’ll find yourself lost and most likely in a ditch somewhere. Before deciding on projects and setting plans in stone, sit down and decide on your exact income goal for the year. Keep in mind, this goal should be attainable and realistic, especially if your business is a start-up. After you’ve decided on a number for both revenue and profit, create an action plan to help guide you toward reaching those numbers or even surpassing them. For tips on creating an action plan, read this article.
Analyze Your Prospecting Activity
This is important. In order to understand what worked, and what didn’t, you need to take some time to analyze where the bulk of your revenue came from. Whether it was from cold calling, networking, advertising, or social media, find out what brought in the most customers and run with it. If it’s not broken, don’t fix it, right? Figure out the top three mediums for prospecting and invest in those mediums, with the highest investment in the most successful of those three.
Be a Little Selfish
By selfish, we don’t mean arrogant. In business, it’s important to look out for what you have built. First of all, some of the most successful businesses are built on the virtue and moral of the entrepreneur. Staying true to your values is key. For example, you have created your business on the values of leadership and integrity, it’s okay to demand the same of your employees. If those expectations aren’t met, end the relationship. These people will only limit your ability to grow. Also having pride in your business can often come across as “selfish” and that’s okay. Being proud of the business you own means that you will do whatever it takes to keep it afloat. Sometimes this comes with tough decision-making. You have to be willing to think of yourself and the future of your company more so than the feelings of your employees or those you encounter during business-to-business engagements. Selfishness can truly be a virtue in the business world.