With 2023 fast approaching, it’s time to set out your objectives for the next 12 months
2022 is quickly coming to an end, and whether it’s been a good or a bad year for your business ambitions, 2023 is a whole new ball game. This is a fresh chance to get serious about your commercial goals, and there’s no better way to start than getting ahead of the game and laying out your 2023 objectives now.
Your business goals will be personal to you and your brand, but it’s important to be realistic about your ambitions to give you the best chance of achieving them. With that in mind, here’s how to master your business goals in 2023.
Setting your new year business goals
Setting business goals helps you start off the new year strong, with a clear idea of where you’re headed and how you intend to get there. It forces you to determine what elements are most important for your business’s overarching success, whether it be upping your marketing game, hiring more staff, improving your company’s sustainability or developing a new hero product.
There is a temptation to aim for the stars when it comes to setting resolutions, but rather than listing huge numbers of goals, try to create 1–3 well developed goals with clear stepping stones of how you intend to get there. For example, you may want to double your social media following. To do so, you might plan out content ideas, list influencers to reach out to, set aside a marketing budget and more.
What are your goals?
Your goals should inform your 2023 business plan. These objectives can help to develop specific, measurable business goals for the year, including total gross revenue, total profit, total new customers, total renewed customers and ROI for marketing.
Here are some ideas for small business owner resolutions that can help you lead your business to greater success in 2023.
- Grow your online presence on social media and search engines
- Offer incentives to encourage employee retention
- Improve profits by streamlining your business and building a sales strategy
- Refine your brand by creating core values
- Prioritise diverse hiring choices to expand your business
- Create a more positive work environment for staff
- Prioritise your work-life balance
- Settle of a clear direction for your business to establish your niche
- Listen to your customers more to tailor to their needs
Tailoring your business to your staff and customers can help you create a brand with a positive reputation, helping you hit the targets you’re aiming for in the new year.
Sticking to your resolutions
The kind of goals you set will determine how likely you are to stick to them over the course of the year. Be realistic and specific when setting out your objectives, with well-defined milestones that you can reach every one, three or six months.
For example, ‘make more money’ doesn’t provide you with much help on how, when and by how much to actually achieve the aim, while ‘increase revenue by X% by Q 2, 3 or 4’ will give you a clear goal to aim for. From there, you can set out how to intend to meet these numbers, through sales, marketing, streamlining and more. This will help you take your business from strength to strength in 2023.
Got a business idea you’d like to get off the ground next year? We have helped thousands of businesses to grow, supported by the European Regional Development Fund (ERDF), so we’re here to support you.
Get in touch with the team at TEDCO Business Support today. Give us a call on 0191 516 61 02 or drop us an email at hello@tedco.org.