3 Steps to Help Businesses Plan for 2018
The beginning of a new year is a great time to figure out what your plan will be moving forward. However, this can be a daunting process. How do you set a plan that will successfully navigate an entire year? Here are some ideas to help you simplify your plan, prepare for change, and hopefully, accelerate your growth.
1- Research is Key
Don’t go into the new year blind. Take time to evaluate what factors will affect your business in 2018. First and foremost, find out how the new tax reform bill is going to impact your business. You also need to keep up to date on economic trends and predictions, and read up on new technologies that could change the game. What are your competitors doing? Take stock of how they are performing, and evaluate their marketing and growth efforts. You also need to look in the mirror and assess your own business. Where are you financially? What is working well for you? What areas do you need to improve on? Gathering all of this information will help guide your planning process and set you on the road to success.
2- Be Ready to Evaluate
Your plan doesn’t end with creating and completing a set of goals. Build evaluation periods into your 2018 plan so you can gauge your successes or failures. Were your timelines and budgets reasonable? Did your goals contribute to your success? What can you do better? Don’t wait until the end of the year; evaluate your goals as they are completed so you can make changes, as necessary, throughout the year.
3- Prepare for Change
Don’t get caught up trying to plan every detail of 2018. You can’t predict exactly how the year will go, and you need to be flexible in the face of change. Keep your goals simple and straightforward, and build some wiggle room into your timelines and budgets. Reflect on how your company has dealt with change in the past, and how you want to approach it moving forward. Being ready for things to change will give you a head-start on a successful year.
With a great plan in place, you’ll be able to navigate 2018 with confidence! If you need help putting a plan in place, the Center for Business Growth and Innovation at UNI can help. Give them a call at 319-273-2311 or email them at firstname.lastname@example.org.