The year in Review and Business Planning for the New Year

December can be a crazy month for most business owners, but can also be a quiet time for some, time to reflect on what the year brought to the table, and a time to plan for the new year and all that is to come. It’s a good time to see how you can improve things in your business, perhaps automate certain areas of your business that take up your time, or delegate tasks to others in your team or to a virtual assistant.

Photo by  Eric Rothermel  on  Unsplash

You may be looking at a different direction in your business and need to flesh out some ideas or outline new projects or products. You may be moving to the next level in your business, taking on more staff, more work and more clients. Whatever your plans, they need to be written down and worked out step by step to help you track your business growth. As the saying goes ‘What get’s measured, gets managed.’

Let’s look at how the last year helped you progress in your business, and how the new year could be your best year yet!


The Ghost of Business Past!

Think back on your last 12 months and how you have learned and moved forward in your business. When reviewing your year, be totally honest with yourself, and answer these questions.

  • What were your main business achievements this year?

  • What could you have done better or differently in your business?

  • What could you have worked harder at?

  • What did you learn about yourself this year (good and bad!)?

  • What did you struggle with in your business this year?

  • What were you most proud of in your business this year?

The answers to these questions should allow you a comprehensive and candid summary of the last year, what you learned and achieved in a short time frame, and what could be possible for the year to come with the right steps and the right strategy to follow.

 

Goal setting and planning for the Year ahead

When planning for the year ahead, its best to pick 3-4 goals (1 per quarter) that you can really take time to work on and perfect. Business owners can sometimes bite off more than they can chew, ending up overwhelmed and frustrated at their lack of progress over time. Goal setting and planning will help you prioritise what you want to achieve in the year ahead, but you need to stick to the process and take action! Plan ahead with these questions:

  • What are the 3-4 main goals you want to achieve for your business in the year ahead?

  • What do you want from your business next year?

  • What do you want to be in your business next year?

  • Who could help you with your goals next year – family, friends, colleagues, people you admire?

  • What kind of people would you like to meet next year, to collaborate with, to build relationships with?

  • How much money do you want to make in your business in the year ahead, and what do you need to do each month to make it (how many clients, contracts, consultancies, products etc. do you need to sell?)

 

For each of your 3-4 main goals mentioned earlier – answer the following questions:

  • What do you need to do to achieve it?

  • When will you do it, and how long will it take to complete?

  • Why are you doing it?

  • What will you achieve on completing this goal?

  • What could stand in your way of achieving this goal, and how can you avoid these obstacles?

 

New Year Goal Accountability for your business

It’s important to keep yourself accountable during this goal setting process, so revisit your goals every month to keep focused on the tasks in hand. Break each goal down into manageable mini projects that will help you towards the larger goal. Find an ‘accountability buddy’ that you can share your goals and plans with and keep each other on track on the bad days and celebrate the good days. It easier to keep your business goals in motion when you have told somebody about them, and they can hold you accountable in achieving them.

 

To grab my free ‘Goodbye 2018, Hello 2019’ workbook helping you get the most from your life and business in 2019, email me at hello@lynseyhanratty.com and I’ll send you a copy!