A New Year is all about new opportunities where you cast out the old and make way for the new.
And just like you make personal resolutions for a fresh year ahead, now’s the time for business owners to make resolutions for your business too.
So how do you start a new business year on the right foot, and turn the page on a new chapter in a way that allows you to set and achieve goals for the 12 months ahead?
A new business mindset
Part of the allure of New Year is the opportunity to shift your mindset. It’s the chance to draw a line in the sand under the year that was and start afresh with goals, plans and ambitions for the year ahead.
With any luck, the Christmas/ New Year period also afforded you the opportunity for a well-earned break from your business so you can view it from a big picture perspective.
You likely have a clear idea of what worked and what didn’t during the year prior, and what you intend to turn your attention to in the period ahead.
The first weeks of a New Year are the chance to harness this momentum, and get crystal clear on your priorities for the coming year.
Armed with a fresh perspective and renewed energy, now’s the time to clearly set out your business goals.
Goal setting isn’t just about pondering pipe dreams, but involves writing your defined goals down and prioritising exactly where you intend to start.
Putting something in writing provides clarity, but most importantly it allows you to flesh out the actions you need to take to make those goals a reality.
Goals are just meaningless words unless you attach actions to them. That means breaking down each goal on your list and carefully considering how you intend to bring it to fruition.
What resources will you need, who will be responsible, when will it happen, and how exactly will it occur?
When you step through each of these questions in relation to your goals, you are beginning to formulate a clear and measurable plan that transforms dreams into reality.
Once you have your goals and your action plan in place, it’s time to create accountability. This includes assigning responsibility for tasks that help a goal come to fruition, and also involves setting deadlines, along with KPI’s.
A critical element of creating accountability is to designate time to undertake the action required to achieve a goal – whether that’s daily, weekly or monthly.
This might be time you set aside for your staff to work on a project, or time you personally allocate as the business owner to chart the progress of your goal.
Update your business plan
The goals you set and the action plans you create should be clearly documented in your updated business plan.
The New Year is the perfect time to look at your plan and revise it accordingly, ticking off the previous goals you have already achieved and updating it to include your new ambitions.
It’s important to remember when you enshrine something in your business plan, you allow it to be a living document that empowers your business to grow, change and continually improve.
If you’re looking to set new goals for the new year ahead, I’m available to assist, and you can reach out to me to book a discovery call here.