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A Business Goals Checklist for the New Year
The online marketplace changes rapidly, and one measure of a business' strength lies in how quickly it can adjust to changes. As we prepare to welcome 2008 and look forward to another year, there is no better time than now to look back on the past year and evaluate your business plan. Here are a few questions to ask yourself. Be honest! This exercise shouldn't take very long, but is important to do every now and then to keep you on track and focused.
1. What were my successes over the past year? Think of a business decision that went well, first of all, and congratulate yourself for it. Now, can you make any related decisions to build on that success?
2. What didn't work? There is bound to be something that wasn't as successful as you expected it to be. Evaluate, and find some way you can learn from this to regroup in the coming year and make a more positive impact next time you're faced with a similar decision.
3. What were my missed opportunities? You may have overlooked an opportunity to send out a press release (see our article on how and why to compose press releases), attend a conference, advertise in a new way, or make some new business connections. Vow to act differently when the opportunity presents itself in 2008.
4. How have my competitors changed? It's natural that your focus should be on your own business, but not taking stock of your competitors from time to time can leave you vulnerable. Your own marketing strategy should include self-promotion of course but you also need to be able to react flexibly to whatever your competition is doing-not to copy them, but to keep an equal standing. For instance, has your competition started a blog or introduced a forum? Think about doing the same. Have new competitors entered the market? Have competitors left the market? If you can't answer these questions, it's time to do some research! Evaluate your competitors' strengths just as you would your own, and determine where you can improve.
5. Has my target market changed? Take a good long look at your site analytics. Make sure you know where your visitors are coming from, what they're searching for, and how they're finding you. Don't assume that what you've always thought is still true. The whims of the online customer changes almost as often as they change their socks, so make sure your assumptions are based on current information. Are you targeting the right buyers for long-term success?
6. When was the last time I updated my website? If you can't remember, it's time to do it now. Search engines love changing content. Write new product descriptions. Freshen your home page with some new lines of text. Rotate your featured products more often. Upload new images. Add 5 new questions to your FAQ page. Update your About page.
7. Follow up on leads. Have you gotten anyone's card and failed to email them? Take the time now to follow through with people you met over the past year. Sending a "Happy Holidays" email is a great excuse to re-connect with business acquaintances. The whole point of this exercise is to recognize that the business and networking landscape changes rapidly, so a lead that seemed like a dim prospect in April may be ripe for you now.
After doing these things, you should feel confident that your business is ready for continuing success.
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