With new year comes new goals for your business that are in sync with your vision. Hence, it is of utmost importance that you plan your business year in advance. ‘In 2019, what kind of resolutions and targets you want to set for your organization and staff’, is a common question for 99% of the Marketeers.
Keeping our audience in mind, I would like to point 5 simple hacks that I have used in my past projects to overcome my fears and it all begins with planning and preparing in advance.
- Look back at the Last Year
It is no rocket science that in order to become better, you need to analyze what you did and learn from the past and how you can make it better for your future. On the business level, you had some ideas which you were not able to deliver or your team was expected of better results. How can you improve this?
Hire some expert and share your problems. Talk to friends and family, or your colleagues about your problems. Sitting on a problem or ignorance is not the answer.
Always carry your notes, ideas and important tasks handy and prepared in advance for the next day.
In a glimpse, what worked and what didn’t? Which of your plans panned out in 2018? Which product lines proved to be most profitable. Which tactics turned out best and which were striked out.
Knowing what is best for you, spend more time and efforts focussing on that strategy in 2019.
- Create Budgets and Check for alterations on a weekly basis
Managing your resources and funds is the key element to a successful budget. Scrap any unwanted tools and expenditures that are not required or have better alternatives.
More than 61% of the SMB’s don’t actually care to maintain monthly, quarterly and annual budgets and that is why it becomes difficult for them to assess their expenses and take actions to avoid overspending.
From marketing, office rent, tools, marketing agency, and petty expenses, everything should be covered in your budget and planned in advance. Keeping at least 20% of your monthly budget will cover you for most of the unwanted expenses.
If your revenue stream is not constant, or you lose a client or two, it will disturb your budget. Take into accounts your Sales and Marketing forecast efforts towards old and new clients and you will just be good to go.
Budget becomes an essential point for reference which informs you to derive your strategies and overcome your financial hurdles on your way to a successful month or year.
- Engage with your Team and keep them in sync
Frequent engagements with your team and staff is necessary. Communicate your goals and opportunities with them clearly. Make their role and tasks clear as per their KPI’s and tell them honestly what didn’t work and what is expected out of them.
Let them know the challenges you are facing on organization level and how do you plan to tackle them.
Conduct employee interviews and set goals on the team and individual level. If you can, meet them personally to build a good relationship with them along with Team Cohesiveness.
- Channel your Growth Objectives towards a Flexible Work Culture
We often realize and care about our employees. I have personally faced this issue, where I was dedicated to delivering outstanding results, working diligently almost 15 hours a day instead of 9, and the most that my Boss ever cared about was discipline. Are you sure want people to come at 9 am and leave at 6 pm. In my opinion, a flexible work culture cultivates creative ideas and boosts employee morale to a great extent. Push your employees, but also promote work-life balance in your organization. Give them Sponsored Trips, Paid leaves, flexible timings etc on the other hand also make sure deadlines are met.
- Work Smart, Play Hard
Smart work always overcomes hard work. This is one little secret that no one wants to reveal and many people fail to understand, what actually is mart work!
Well, you are working on strategies all day long, maintaining sheets, workflow, duties, and responsibilities within the organization, doing all the work on your own.
For example, you have an idea or strategy which might have great potential. Most people never ask for help internally or externally for one simple reason, overconfidence, or you think you can execute on your own. This is where you should draw a line and include your team or take expert help in correspondence to your industry. Sometimes, it is difficult to accept that you are not sufficient to execute your ideas especially if you are missing on feedbacks to address bottlenecks and ways a given strategy can work. Understand your audience and whom they follow. Reach us out for a free trial and we will take care of all your needs. Make the most of your strategies with Ursa Majoria.
Use these 5 Hacks to maintain and plan your business a year ahead. Stay focused in the coming months as you overcome key deadlines, work towards your goals, and keep motivating your employees.