Wednesday, June 19

Furthering Your Business in the New Year

A woman talking over the phone.

The new year is synonymous with regrowth, resolution, and turning over a new leaf. Whether you’re looking to capitalize on recent success, correct operational errors, cut costs, or increase revenue, the new year is the perfect time to make the necessary changes for the good of your business. But what can you do to achieve success in the coming year?     

Setting goals – It’s important to assess your business and prioritize its strengths and weaknesses if you want to make a change. What do you want to achieve from your business in the next year? What do you need to improve? How can you improve the experience of your customers? Once you’ve established your ultimate business goals, set yourself SMART targets, or objectives for each week; these should be specific, measurable, achievable, relevant, and time-bound. Take steps to make your goals happen, whether that be creating a tailored loyalty program to incentivize repeated custom, increasing your social media presence to reach new clients, or sprucing up your back-of-house to ensure that operations run as smoothly as possible. By breaking up the big tasks into manageable chunks, you could achieve your goals more quickly than you think.

Creating an atmosphere – A great way to inject some new life into your business is by consolidating or reimagining your brand’s culture and identity. Remember that customers respond well to storytelling, so try to create a narrative that they can identify with – what’s been your company’s journey so far? Think about crafting a more memorable brand persona in the new year by focusing on the unique qualities of your business and creating an atmosphere that your customers will remember.   

Following trends – To keep up with the competition and stay relevant, businesses must adapt to shifting market trends. If you’re thinking of giving your business a makeover in the new year, you’ll have to the latest trends in your industry. While there’s been a worldwide push for more sustainability, digitalization, and supply chain security, some small business trends to take note of in 2022/2023 include enabling ‘buy now, pay later’ purchasing options and cryptocurrency payments.   

Online optimization – With rapid digitalization underway and huge growth in the online retail sector, it’s essential that your company website is up to scratch. Luckily, it’s never been easier to optimize your website, from changing the keywords used in the site copy and landing pages to improving the speed of navigation and mobile accessibility. There is a range of SEO training courses for beginners available online that can help you on the road to success.  

Networking – One of the easiest ways to expand your business and increase your customer base is by networking with like-minded folks in your industry. Whether you choose to attend in-person seminars or online meetings, you could significantly boost the reach of your company, improve your business acumen and make valuable links that can help to streamline your operation going into the new year.

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