What are your business goals for 2022?
The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. So what kind of year was 2021 for your business?Planning and goal setting will help provide a focus for your business efforts.
Take the time to review the year and acknowledge and examine 2021 with an objective perspective can provide valuable insights to prepare for 2022.
Your Yearly Business Review
What’s the data telling you?
What accomplishments can you celebrate?
What situation, event or experience provided the biggest learning opportunity?
What is the biggest challenge or frustration you face as you prepare for 2022?
What was your best selling product or service and what wasn’t?
How were people buying from you? Has this changed?
What was your most valuable marketing campaign?
How are customers finding you online?
Where do your website and store visits come from?
What systems, technology, products or services were successful?
What were the most significant impacts on your business in 2021? How well did you meet the challenges?
Analyse your financial reports, is the business sustainably profitable?
Where were your main sources of income?
What were your biggest expenses?
By creating not only sales and cash flow reports but reports on consumer behaviour (and how this has changed) you can create meaningful predictions. Forecast what your data tells you 2022 should look like. Do you need to retire poorly performing products or services? Do you need to focus on one marketing avenue? Do your selling methods need to be revaluated?
Plan now for a successful 2022
While there are many metrics you could evaluate to track business performance, these idea starters above are to inspire your business planning for 2022.
Scott can analyse your business and present a variety of options to you, such as:
Executing strategies to improve business value
Identifying areas for improvement
Creating a valuation report for your business
Automating business processes
Working with you to formulate an appropriate exit strategy over a set period of time
Analysing data and providing advice
Selling your business now, or whether to wait for a more opportune time
Options to sell a portion of your business to a targeted buyer with the aim of freeing up some of your capital
Potential earnout options that could increase the value of your business over the next 12 months
Any other option that is suitable to you and your business
Every business is unique. Contact Scott today to review your business and discuss your discuss your goals, plans and options.