Planning for 2023 and your business

As we are coming to the end of 2022 it is time to start thinking of 2023 and what changes, if any you will be making in your business. Your business plan is your compass to evaluate which direction your business may be heading and how to change course if needed. Putting your goals on paper helps define them and think about them.

Set goals for each quarter, each year, 5 year and 10 years. Now these are set in stone but should be fluid and ever changing as your business, customers, supply chain etc changes. Start with long term goals – where do you want to be, then back it down into more short term goals. Sometimes it is easier to look at things in smaller or shorter chunks than a big long term picture. Keep the goals constantly in mind, but don’t beat yourself up if you don’t meet a goal – instead think of that as time to evaluate and learn why caused you to not meet the goal and you may need to make an adjustment to your next goals.

Look at the strengths, weakness, opportunities and threats you and your business may face. Maybe it is time to hire a permanent HR person, accountant, book keeper or other professional. As your company grows and your client base grows it is prudent to interview and hire professionals to take on some of the roles that you may have been handling yourself so you can focus on the parts of your business that you are the strongest at.

Now how do you monitor where you’ve been and how close you are to achieving your goals. Set deadlines for achieving your goals. There is not a one size fits all – what works for one business or one set of goals doesn’t necessarily mean it will be the same for the next set of goals. Each needs to be looked at individually.

Prioritize your goals and how you are going to achieve them. Look at your resources and determine your course of action then implement each strategy and initiative. Remember these are not set in stone and should be fluid to adjust with the changing times, supply issues etc. Don’t get stuck in a rut. Take those long term/big goals and break them down into short term/smaller goals to help yourself achieve things.

Finally hold yourself and your team accountable. What happens if you or your team doesn’t achieve their goals. Look at the why, who and how to change to achieve goals. Believe in yourself and give yourself and your team the tools to achieve things.

As always look at your local chambers to help you market your business and make connections.