If you have time, put your answers to the first question down on paper for a bigger picture at what’s working well for you in your business. For example, your sales might be increasing, and your customers are loyal and happy to use your services and products.
Next write down the things that just didn’t work for you during the past year. Maybe your bookkeeping was haphazard, causing you to lose money. Or maybe some of your suppliers have been putting up prices that you really don’t want to pass on.
Think about it for what it means to you and for your happiness and success.
As you start thinking about next year, reflect on your numbers. This means taking a hard look at the figures within your business.
How much income did you generate for the year?
Isolate your best and worse months so that you know what to expect next year.
What were your most profitable services and/or products?
What were you least profitable service and/or products?
How did your new customers find out about you? (Can you measure this to see what’s your most effective marketing?)
Did your sales grow this year?
Did you increase your profit this year?
Answering these questions should give you good sense of how your business is performing over a year. It also helps to go into a new year knowing what works best.
Out of this analysis you might have some clearer ideas of what to do next year.
For example, maybe you could ditch the least profitable services and products and discontinue them. And if your suppliers are screwing you down, make some hard decisions on whether to use them or their products next year
Remember, your business should serve you, not the other way around.
So, it’s important get clear about how much you personally would like to make in the coming year to support the lifestyle you want to be living.
Then you can start to figure out how that will break down in terms of how many clients you will need to book, or how many products you will need to sell.
If you want some help in figuring this out give us a call and book in some time next year.
That’s why we are here. Let us help you make your business more successful.
Finally, on behalf of our whole team, let me wish you a very happy Christmas break and an exceptional New Year.