With every new year there are new opportunities for your company. Whether you’re expanding your brand, working more closely with customers, or looking to start over, setting goals big and small is critical to getting the most out of each year.
Here are some steps you can take today to help your business thrive in the next twelve months, whether you’re just starting out or considering an innovative new approach.
1. Decide what you want to achieve
Before you can really begin setting your new goals, it’s important to pause and decide what you want to achieve this year. Whether it’s better customer relationships, a stronger digital presence, or a focus on social good, it’s important to want something before you can get it.
To help you with this, I recommend using a target tracking application. My personal favorite is Habitica because it turns your goals into a game. Every time you accomplish something in real life to achieve your goal, the digital level goes up.
2. Remember your resources
You may not have the manpower to tackle everything in a year, but you should invest what you can to get the most out of your resources. Think about what your New Year’s goal is and come up with a plan to make it happen. Make sure you choose one task over another – don’t just choose the one you think will have the most impact or contribute to your brand in the most direct way possible. Choose the one you love the most.
Not sure where to start? Contact MicroMentor for help.
3. Look at your relationships
Some resources are more valuable than money. Take the time to think about the people who can help you with your new goals – whether these are your employees, your customers, or your personal relationships – and what you can offer in return. Sometimes you may have to return something in order to get something in return.
4. Revise your business model
If your business model is out of date and your resources are limited, try to find an existing business model that suits your needs. You can try adding a subscription offering or providing virtual services to your existing line of products. This gives you flexibility to grow as your business requires and allows you to take advantage of the opportunities that present themselves.
In 2020, when many restaurant dining rooms were closed indefinitely, many switched to offering take-home kits and partnered with sites like Goldbelly to ship delivery nationwide to customers who weren’t there.
5. Weigh your risks
Take into account the risks you might face this year so you can better prepare for it. If 2020 has taught us anything, many of us are not prepared for more than the slightest disruption.
- Can you afford ongoing expenses?
- How much, if any, money do you have left to invest in your business?
- What if you lose your funding and can’t grow as expected?
- What if a large bill comes due and you can only file for bankruptcy?
You should always have answers to these questions – especially after last year.
6. Find inspiration and motivation
Whatever you want to achieve, you should make sure that you have the confidence and motivation to achieve it. You may find inspiration in something outside of your company, from a children’s book to a TED talk. If you can’t find inspiration, look within yourself – you may find motivation in the slow, old-fashioned process of getting started.
As CTO, I always deal with science fiction novels, especially Isaac Asimov’s Foundation series. They help me expand my thought process to focus on what is possible when there are no limits.
Once you have all the ingredients you need, you will be unstoppable.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
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