Business tips to consider ahead of the new year

PHOTO: sourced
PHOTO: sourced

AS 2019 draws to a close, international award-winning business coach Darryn Le Grange, owner of ActionCOACH Ignite, shares five business tips to help business owners start the new year off with a bang.

1. Let the past help your future

While it’s never a good idea to live in the past, reflecting on your previous business successes and failures can help you towards achieving new goals.

Whether you want to increase sales, customer reach or brand recognition, how can past experiences help you make smarter decisions as you plot out your plans for 2020?

Learn from past lessons and apply them into building a stronger future for your business.

2. Compile your marketing plan in advance

In planning ahead you are forced to identify what exactly it is you want to accomplish and how you intend to do it.

Identify the strategies you believe are most suitable to your business, prepare a roll out plan with relevant implementation dates and remember to measure the results of each campaign.

3. Set 90 day goals

Annual business goals can make both you and your employees feel confused and/or overwhelmed. By focusing your vision to 90 days, you can break down goals and turn them into doable plans of action.

By planning your business goals in 90-day chunks, you create an environment of accountability while still leaving room to adapt to market trends and change course as needed.

Start off by choosing three core goals that you want your business to focus on for the first quarter of the new year, then involve your team and break each goal down into actionable steps.

4. Establish clear objectives

Starting the new year without clear objectives, specific directions and/or a prepared plan of action is like starting out on a road trip with no idea where you’re going or how to get there.

You will waste fuel, time, money and energy.

Likewise, your business will suffer if you try to implement a plan without clarity and forethought. Remember, business objectives should be clear, measurable and realistic.

5. What are you going to do differently­ in the new year?

When people hear new year’s resolutions, they often think of “exercising more”, “spending more time with the family”, or “travelling more”. Besides these personal resolutions, you can also create impactful resolutions for your business.

A resolution, after all, is a decision to do something differently to bring about positive change.

Now is a good time to reflect on your business’ progress and plan how you want to grow your business in the new year. Make time to revisit your business plan and evaluate which strategies have and haven’t worked. It may be necessary to rework or adjust certain plans, structures and tactics in order to effectively realign your plan.

“Take time out to spend with loved ones these holidays and recharge your batteries ahead of the New Year,” said Le Grange.

— Supplied.

Lockdown For
DAYS
HRS
MINS
Voting Booth
Have you gone out to eat a restaurant since restrictions have lifted?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes I have
13% - 869 votes
No, but I plan to
16% - 1049 votes
No, and I don't plan to
71% - 4628 votes
Vote
ZAR/USD
17.06
(+0.52)
ZAR/GBP
21.38
(+0.62)
ZAR/EUR
19.24
(+0.53)
ZAR/AUD
11.85
(+0.49)
ZAR/JPY
0.16
(+0.47)
Gold
1803.57
(+0.52)
Silver
18.47
(+1.19)
Platinum
840.00
(+0.42)
Brent Crude
42.97
(-0.05)
Palladium
1925.00
(+0.91)
All Share
55582.72
(+0.61)
Top 40
51291.85
(+0.73)
Financial 15
10210.58
(+1.23)
Industrial 25
77641.22
(+1.02)
Resource 10
52049.56
(+0.06)
All JSE data delayed by at least 15 minutes morningstar logo