Today's post continues to share with you some of the things that we have read about in resolutions for small businesses. Hope that part one was of some help to you, and that part 2 will be the same.
3. Update your business plan
Hopefully, you wrote your business plan as one of the first steps of starting your business. A good business plan can serve as a roadmap to success when you need guidance. It can help keep you organized and on track. If you decide you want to pursue an investor, seek a business loan, or take on a new partner, a business plan can also act as a tool to illustrate your business’s worth to outside parties.
In other words, a business plan is crucial to your success. But it isn’t meant to be a one-and-done document. We’re willing to bet your business has changed since you first wrote your business plan. Now is a great time to revisit it and update your plan with the latest financials, goals, competitor research, marketing ideas, and more so your business will continue to grow in 2022.
4. Refresh your marketing plan
Just like with your business plan, you’ll want to take a closer look at your marketing plan. What worked well for your business last year? What didn't? Where did your marketing budget stretch the furthest? What channels worked best for you?
Now that you’ve identified what marketing efforts helped your business the most last year, and which didn’t make as much of an impact, you can update your marketing plan with your insight and knowledge. Your new plan should cut out anything that didn’t work and prioritize what is working best for your business. Feel free to add in new strategies as well. This will help dictate where your marketing budget should go in 2022 so you get the biggest return on your investment.
5. Expand your network
When you’re swamped with work and trying to check off your must-do list, it can be difficult to visualize adding anything that won’t have an immediate impact on your business to your already overpacked schedule. This is why a good resolution for 2022 is to continue expanding your network.
If you make an effort to make a new connection once a week or monthly, you improve the odds of finding a new business lead, learning some valuable trade intel, or creating a strong professional relationship. The more you network, the more results you’ll see. Schedule networking on your calendar like any other to-do to ensure it becomes a priority and not an afterthought.