Running a successful business takes a lot of work, so if you’re ready to commit, here’s what you need to know to make 2022 your year.
The start of a new year comes with fresh determination to take your business to the next step. Unfortunately, this fire can often dwindle within a few weeks. In order to help you keep your sights on your business goals throughout 2022, we’ve put together this handy guide.
Assess and review
It’s tempting to wipe the slate clean for a new year, but assessing the last quarter of 2021 is a firm indicator of your business’s trajectory for the next twelve months. Learn from any mistakes and seek out the reasons for any unmet goals and failures. This will help you set out a better plan for Q1 2022.
But don’t stop there. Reviewing the previous year in its entirety allows you to determine what fuelled your growth, and what you should prioritise going forward. Likewise, you can also determine any weaker areas that require attention, be it management, marketing or budgeting.
Set SMART goals
In order to meet your business goals for 2022, you first need to set them. Not only should these goals be concrete, but they should also be SMART. That means setting goals which are Specific, Measurable, Achievable, Realistic and Time-Bound.
The more detail you can apply to these goals, the better. This involves planning out what exactly you want to achieve, and when exactly you want to achieve it by, as well as outlining how you plan to reach them.
For example, a goal to ‘improve sales’ is far too general, so break this down further. You might aim to increase the sale of your most popular product by 3% by the end of Q2, using online advertising to draw more attention to it.
Have a clear vision
While your goals should be specific, you must never lose sight of your overall business vision, as this should form the foundation on which you create your annual goals. A vision is what you want for your business in the long run. It should be easy to understand, and can act as a clear source of inspiration for you and your team. In short, it’s there to remind you why your business exists in the first place. Running a business is a huge undertaking, so a vision is necessary to remind you why it’s worth it.
Establish achievable milestones
By breaking down your business goals into more achievable milestones, you can be more strategic and tactical as you set out your plans to achieve them. One of the simplest examples of this is to break down annual goals into quarterly goals – what steps will you take to ensure you’re 25% closer to your yearly goal by the end of Q1?
If your ultimate 2022 goal is to increase revenue, you need to make sure you’re getting more sales steadily throughout the year. Give yourself a milestone to increase sales by a certain percentage every three months.
Prioritise training and growth
The professional growth of your business and team will go a long way to helping you achieve your business goals. By training your staff, you can equip all team members with the information, skills and knowledge they need to operate at maximum capacity, making your goals all the more achievable.
It’s important to grasp the unique needs of your business and industry, so you know exactly what your team requires in order to move forward with positivity and productivity. Make sure everyone involved in your business has the tools they need to succeed.
Got a business idea you’d like to get off the ground in 2022?
The team at TEDCO Business Support has helped thousands of businesses to grow, supported by the European Regional Development Fund (ERDF), so we’re here to support you as your team grows.
Get in touch with our team today to see how we can help you. Give us a call on 0191 516 61 02 or drop us an email at firstname.lastname@example.org