New Year - New Business Plan

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Published 5th January 2017 | View or add comments
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Before I start I just wanted to say a Happy New Year from My Local Services. 

We all know the saying ‘New Year, new start’ or ‘New Year, new me’. Why not change it up a bit and make a new saying; for example:

‘New Year, new business plan’- now that’s more like it!

The new year is the perfect time to look back at the previous year and create an overview on how your business has done.

Was it a good year?

Was it an in-between year?

Was it a bad year?

If it was a bad year, it’s time to see where it went wrong and improve.

Many Businesses struggle in the new year, looking for inspiration or direction. But not to worry, let me try and help!

Organisation and administration

Number one on the list must be organisation. Organisation is a huge part of how successful your business is. Are you up to date with all your administration? Do you have outstanding invoices? Are all your expenses for the New Year paid for? This could be your phone bill, your company car tax and mot. Have all the smaller things been taken care of?

As a small business, you may need to come up with a New Year plan that ensures you keep on top of your organisation better than last year. Maybe you are great with managing your administration and just need to keep up the good work. But there is normally room for improvement and maybe outsourcing or delegating some of the administration burden could free up your time.

Analysing performance

Number two on the list is observations from the previous year. How did your business perform? Before you even start with a new business plan, you need to look back over at the previous year and put together a list of pros and cons. What went well in 2016 that you can build upon even further in 2017. Did your customer base increase by more than what you expected or did your marketing campaign perform better or worse than expected?

When looking back at the cons, consider why they were cons. If your business didn’t have a lot of new customers, what was the reason? Is it aggressive competitors, your pricing policy, customer service or lack of marketing?

Marketing plan

Number three on the list and is the last thing to closely consider for the New Year is your business marketing strategy. Marketing is the lifeline for smaller businesses and doesn’t have to mean large budgets or elaborate campaigns. Things to consider are what types of marketing are low cost and effective.

‘word of mouth’ marketing is gold dust and free. Low cost marketing can be leaflets through doors around your neighbourhood. An ad in the local newspaper could introduce you to hundreds of new customers. It’s the little things that grab’s people’s attention.

The one realistic prediction for your business is if you continue to do the same as you did last year, then you will more than likely achieve the same results.

Marketing advice and help

If you want to discuss any marketing issues, float any ideas or are looking for some useful tips, then come and talk to me and the team on our business forum.

It is a self-help group, packed full of useful information and a great place to share ideas. The forum is free to join and use, so I come and join us and I’ll say hello when you get there. My Local Services Business Forum

‘New Year, New business plan’

Let the planning commence!


Thanks,
Rachael Kennedy | MLS Marketing Team
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