If you haven’t already done so, January is a great time to decide on a list of business goals for the new year. Whether you have decided to take the leap with a new business start-up or you want to expand your existing business, planning and setting goals for exactly what you want to accomplish will help you stay accountable and on task throughout the year.
Here are 4 ideas for new business goals to help get you going:
Lower Expenses: Take a reflective and realistic look at 2012’s expenses for your business and analyse which ones were higher than they should have been. Whether it was on office supplies or business lunches or even printing costs, you should brainstorm some ideas on how to decrease the numbers. You can consider buying office supplies in bulk or even re-evaluating the partnerships you have with vendors to see if there are opportunities there to lower expenses.
Reach New Markets: You can help to make 2013 a successful year by reviewing last year’s marketing plan and results from specific campaigns to evaluate what worked, and of course, what didn’t. Social media and online marketing avenues are more cost effective than ever, so if you haven’t tried promoting your business online, it’s time to start. You can also make a list of your specific target audience and brainstorm new ways to reach them.
Keep Learning: Expanding your business means you have to constantly keep up with your competitors and new market trends in your industry. You can do this by reading industry related books or publications, taking a course or seminar, or by joining a networking group. With each new skill and connection you may, you’ll find that you are adding valuable knowledge to your business that you did not have before.
Work Life Balance: As an entrepreneur or business owner, it’s easy to let your business take over your entire life. Make time for yourself, for your family and friends, and set work hours that will create an optimal work life balance. You have to prevent yourself from getting burned out if you want to continue to run a successful business that you love. Evaluate which elements of your business create the most stress, and evaluate ways to automate tasks or outsource to create more time for you.
Whatever your business goals are for 2013, it is vital to ensure they are achievable and measurable and that you have also set a reasonable time frame. Working towards goals which are actually achievable will help keep you motivated each time you meet one to keep going and growing your business. Quantifying your business goals with specific numbers also means that you can measure your progress and give you something to strive for. You will also be able to know for sure whether or not you have met your goal. Lastly, setting a time frame on your new business goals will help you stay on task, and assist you with updating your approach and marketing tactics throughout the year.