Roll out the Red Carpet for 2017

Have you rolled out the Red Carpet to welcome the New Year and the opportunities it may bring?

Or are you just crossing your fingers and hoping it will be better than last year?

Now the Christmas and New Year festivities are over, the Holywood glitterati are rolling out the red carpet for the Awards season. Accustomed as actors are to being centre stage, it’s not surprising if they see acceptance speeches as an opportunity to draw attention to the current events, political issues and good causes that are personally important to them.

What will be important for you and your business in 2017? Are you prepared for whatever may come your way? Are you ready to grasp the opportunities as they arise?

There’s no denying that we all face the coming months with some uncertainty, so having a business plan in place that enables you to monitor your progress and adapt to meet the challenges ahead will be more important then ever.

Here are five things you can do now (it’s not too late!) to make the most of 2017:

  1. Do your market research. Even if  you think you already know everything there is to know about your market, now is a good time to re-visit your existing market data and see if anything is likely to change in the coming year. Have your customers’ needs changed? What are your competitors doing? Are there any new legal requirements you need to incorporate in your plans?
  2. Complete your SWOT analysis. Use the market research to ensure you are making the most of  your strengths and to highlight any upcoming opportunities. Identify any weaknesses or skill shortages in the business. Ensure you are aware of any external threats, such as new legislation or a competitor product launch.
  3. Use the SWOT analysis to formulate your business plan. Set your business targets for the year, define your objectives, review your financial planning and work on a strategic marketing plan to make sure you achieve them. Don’t forget to allocate sufficient money to your marketing budget to enable you to meet your sales targets!
  4. Create a monthly advertising, promotions and events calendar, making sure you maximise the opportunities from seasonal and local highlights such as Easter, Bank Holidays, Christmas, local events, etc.
  5. Address any skill shortages you identified in the SWOT by learning a new skill, employing new staff or outsourcing to experienced professionals.

Outsourcing skills you don’t already have to a professional is a great way to give your business the edge. If you need some help with your 2017 business plan, or would be interested in attending a business plan clinic or training session, contact us for more information:

Jackie Wilson MCIM APM

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