Preparing for a new year

Gus Orellana
October 20, 2020
Business Growth
Customer Service
Investment
Organization
Planning
Tips
Training, Education
Back to blog

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
          be needed?

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.

About the Author

Gus Orellana

Gus started his adult career wanting to be a structural engineer, however, opportunities propelled him to the world of information technology. He began as a programmer for the IBM-402 tabulating machine, and also had a stint as a department manager for a high-end retail store in Mexico City. After emigrating to the United States in 1972 and a three-year job grinding and polishing lenses while learning English, he started working for a bank in Southern California as a programmer. He later progressed to other banks and positions in the information systems area, including systems programming business analyst and management. And since his ordination in 11-03-2017 a Permanent Deacon for the Catholic Archdioceses of Oklahoma City.