Top five resolutions for business success in 2019

Doug Verley
Jul 4, 2018
Business
3
minute read

Let’s get straight to the point – Here are our Top Five New Year’s Resolutions for business success in 2019.

1. Review & Revise Your Business Plan

All businesses should have a business plan, and once a year (at a minimum) owners should go back and revisit the plan to compare how things are going against what was originally planned. A review is a great way to take stock of progress, to see where plans have come off track and to set things right again.

The beginning of a new year is a great time to schedule in a review and revision of your business plan. Business tends to be a little slower than usual, meaning there is more time to work ‘on the business’ before the wheels start turning on another busy year.

Look at earlier goals, have they been accomplished? OR are they still in line with what you aim to achieve in the year ahead? More likely than not, you’ll need to update your business plan based on what stage your business is at now, and changes that have happened in the market.

A business plan doesn’t have to be 100% set in stone, but it’s important to have one in order to provide you and your team with direction, an understanding of priorities and a guide towards achieving the business’s short and long-term goals.

2. Check In With Your Customers

The most important aspect in any successful business is happy clients.  Without clients paying for a good or service you provide, your business will, unfortunately, go nowhere fast. The first step in knowing how to attract new work is knowing who your current clients are, why they buy from you, and what their experience with you has been like.

One way to do this is with a client survey. There are plenty of online software options that can help you create a super slick survey, a couple we like to use are Survey Monkey and Typeform. In your survey, ask clients for feedback on their purchase and/or service from you, review the responses and use that information to inform decisions around who you target for new business, and how you interact with your current client base going forwards. If you commit to doing this at the beginning of each year, you’ll reap the rewards from knowing who your clients are and how you can continually improve their experience.

3. Develop a 2019 Marketing Plan

Now that you’ve updated your business plan, it’s time to start work on your Marketing Plan for 2019. Every year your business changes, the market changes, and with the speed of change in technology, there are always new marketing trends and channels that need to be considered.

Start with the data! Look to your marketing analytics and insights to see what’s been working, and what hasn’t. Change up your marketing mix based on what’s been working for your business, ask yourself what mix will help achieve your 2019 goals and deliver the best results for the business. Also look to important areas that you’ve been lagging behind in. SEO not up to scratch? Haven’t been consistent on social media? Now is a good time to develop strategies that will get you motivated, implement software to make your life easier, and create plans and calendars to get your marketing running smoothly during the year!

You might also be interested in our article on Email Marketing 101.

4. Conduct An Offline & Online Audit

In the quiet period, before the mad rush of another year, it’s a good time to take stock of all equipment, online and offline, that might be holding your business back – don’t just make do!

Website out of date? Haven’t invested in marketing automation software? Is there an antiquated piece of equipment that’s making it difficult for your staff to do their jobs efficiently? Now is the time to make the much-needed update. If you invest in reducing unnecessary time spent, difficulty and frustration, you’ll find that money well spent and will come back 10-fold in efficiency (time to do more important work) and a happier workplace

5. Create A Training Program & Calendar

Your business as a whole is only as good as the employees that make up its parts! A new year is a new opportunity to train and upskill you and your employees. Training can be anything from sessions related to a specific employment position to more general sessions on leadership and communication. Not only is training great for employee morale, but it can also be very beneficial to a business, improving performance and profit.

Give your staff the opportunity for input by asking what training they would like to undertake during the year, create a training calendar, then put someone in charge of organising and executing the training sessions, ensuring they happen.

This article is provided as general information only and does not consider your specific situation, objectives or needs. It does not represent advice upon which any person may act. Implementation and suitability requires a detailed analysis of your specific circumstances.

Article by
Doug Verley
Doug’s 32 years of work experience spans the banking, investment management, life insurance, mutual fund, accounting, property, mining services, construction, fabrication, engineering, printing, training, fire prevention and numerous other industries, with over 25 of those years entrenched in all areas of strategy development, planning and implementation, some of these as Group Strategist of a listed life insurance Group.

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