New Years Resolutions for your Business

Here we are, about to kick off 2018.

What are your new year’s resolutions for your business? And what have you done to prepare and set your business up for a great 2018?

In order to set powerful and purposeful goals for 2018, you first need to assess where you are currently in your business (now in 2017).  Did you know its mathematical impossible to give someone directions without knowing their starting point..? 

As you reflect on your 2017…

  • Have you reached your sales/revenue goals?
  • Did your business nett the targeted cash flow?
  • Did your marketing strategies convert to sales?

If your answer is NO in any one of these questions, we can help your business pave a successful 2018 by setting a big new years resolution and map out steps to make it likely to happen.

“I WILL MANAGE MY CASH FLOW MORE EFFECTIVELY”

There is a long list of ways to improve your cash flow, but this is a topic for another time.  The short-and-long to improve cash flow is to increase sales and decrease expenses.  Follow steps below on increasing your sales (revenue):

  1. Reflect on your business progress over the past year and plan how you want to improve your revenue in 2018.  Think of all your services, clients, marketing, sales and all other techniques you use in your business that affects your Revenue.  Let your mind go to what worked, what did not work, what do you want to continue doing and what is it that you want to let go of?
  2. Set a realistic, but stretched revenue goal for 2018.
  3. Break this annual amount down to daily, weekly and monthly revenue goals.
  4. List the key performance indicators that will assist in reaching these revenue goals or impacts on these goals. Turn to step 1 for things that worked in 2017.
  5. Track, measure and monitor these KPI’s on daily/weekly/monthly.  The only way to improve something is to measure it.
  6. Evaluate what can be improved.
  7. Implement recommendations and improvements.
  8. Next create a Forecast – this will allow you to anticipate end results, thus making your business more pro-active (no nasty surprises), and keeping more cash in your pocket.
  9. Follow up on variances from forecast sales versus actual sales

 

Follow these simple, yet effective steps and make 2018 your best year yet.