It is an absolute truth that just as there are no two days alike there are also no two years alike, however, knowing what gave you headaches this year can help you prevent them in the next year, and even eliminate them.
Steps to follow
1. The best way to prepare for a new year is to begin by closing the current year, not just financially speaking, but businesswise as well, writing down all that went well and all that you wish could have gone better.
2. Review everything that happened in the year and how well or bad your products or services did.
3. For the products or services that didn’t do as well as desired:
• Is this a seasonal product or service?
• If not, what was the cause?
Be brutally honest in this analysis, and whether this is what you considered
to be the flagship of your company or not.
• The results will help you determine whether you need to terminate this line or make improvements or changes to suit the new demands and requirements.
4. Are there any indicators that the needs in your area of service are changing?
• What is increasing in demand?
• What is decreasing in demand?
• Are there any new services or products needed either because of additional needs or additional businesses?
• What about products or services you offer that will probably no longer
Whatever your analysis reveals, there is one more thing that you need to do that is imperative for survival in these uncertain times, and it is to analyze how easy it would be for you and your business to pivot to adjust to new demands and conditions. It is during uncertain times that a business must be nimble and ready to implement quick changes to products or services, and operations, to ensure survival in the short and long term.