A new year is essentially a fresh start—not just for individuals, but for companies as well. It’s your chance to check in on all of your business happenings to determine where time and energy should be focused, and where any course correction needs to take place.
As the calendar year comes to an end, take some time to reflect, crunch numbers, and gauge sentiment on the various aspects of your company. Talk to your stakeholders, clients, and employees to ensure that you are focusing on the right areas and setting your company up for a year of success.
From a Business Objective Standpoint
It’s natural that companies evolve over time. The goals that were in place at your business’s inception—or even just last year—may no longer be the ones that make sense today. Things like technology, consumer trends, and even the political landscape can make a big difference when it comes to running a company. The businesses that are flexible and leverage modern opportunities as they arise are the ones that continue to be successful over time. Do your research and make sure that the key goals and objectives that your company was founded on still make sense for your brand as it exists today.
From a Client/Product Standpoint
You should also be taking a look at your client and/or product portfolio, although the things that you look at will depend on your specific industry. Are there particular categories in which you have seen either growth or decline? Are there upcoming client or consumer needs that you can anticipate? If so, do you have the appropriate personnel and resources in place in order to meet these needs?
It’s important here to be proactive. Don’t just wait for a client to come to you with a new project, or until all of your competitors have entered a new product category or audience segment—start strategizing now.
From a Team Member Standpoint
And finally, don’t forget about the individuals who will actually be doing the work to meet your business and client/product objectives. Consider your full team: What opportunities and work streams are they most excited about? Are there employees who have backgrounds and skill sets that are not being fully or properly utilized?
Also, consider your team from an interpersonal standpoint: How is your overall company morale? Do colleagues motivate each other and help improve one another’s work? Remember, a company is only as good as its employees, so look for ways to appropriately team build and create a workplace that people can feel good about.
Put Your Best Foot Forward in 2019
More often than not, the key to success is communication. Make sure that you are not only soliciting feedback, but that you are listening to what your stakeholders, clients, and employees are saying—as well as what they’re not saying. Doing so will help ensure that you are focusing on your strengths, appropriately taking advantage of opportunities, and best leveraging available talent.