The end of the year is a time to build a stable platform for yourself and your business, so you can hit the ground running strong in the new year. There are several things I will do to make that happen in the final month of this year and the beginning months of the following.
- The first thing I do, arguably the most important, is to reflect on and analyze this past year. It’s essential to get clarity on what worked and didn’t, what you could accomplish and what you couldn’t, what happened in your environment that you could control, and what was out of your control. Think about what you were forced to react to, what shut you down, and what motivated you. Each year exposes what works and doesn’t and allows you to shift and adjust. You have the opportunity to see what old practices no longer work and what needs to change. So grab the lessons and the learning from this past year and use them as a platform to stand on for stability. Everything the new year brings is everything you choose to create or not.
- Next, I complete a SWOT analysis. Take inventory of strengths, weaknesses, opportunities, and threats. Do this from multiple perspectives. Start with completing one from your perspective, then one from your staff’s perspective, and finally, from the perspective of your business as its own entity. After, take stock of the market, the trends, your competitors, and the economy. Find an understanding of your industry and competitors, so you can adjust, pivot, and shift if needed. The more you know about what is happening around you, the better you can plan.
- Then I find room for improvement and create a development plan. Look at how you can better every facet of your life and strive for excellence. Reflect on what’s out there that can help you improve yourself and better your practice. For example, I reinvest 30% of what I make in a year back in myself for the upcoming year. Look at your gross income and ask yourself, how much of it do you want to use for hiring a coach? How much are you willing to spend on professional development? How much should be allocated for your health and wellness practices?
- Once you have clarity on your plans, schedule a planning meeting with your team. The end of the year is a time for planning and putting together all the puzzle pieces for the upcoming year. Some of the action steps in your plans will be your responsibilities, and some will be delegated. First, establish buy-in from your team so you can all be on the same page to progress toward success. Next, spend time brainstorming, masterminding, and discussing how to make success happen together. By the end of your discussions, everyone should be clear on their goals, when they need to be achieved, and how they will meet them. This planning allows you to set benchmarks for each person and each area of the goals. This will help manage expectations and ensure you meet your goals in the upcoming year. Finally, spend time identifying how to organize yourselves to make things happen most efficiently and effortlessly. Success should be easy; it doesn’t have to be complicated.
- Spend time looking at your budget for the upcoming year. What will you spend on your payroll? What will you allocate for marketing costs? What do you need for overhead costs? For me, 8-13% goes into marketing, 30% is spent on my own personal development, and 22-26% goes toward payroll and foundational costs. These things all need to be included in the budget. Refrain from reacting to the day-to-day when it comes to your budget, as that will make success incredibly difficult.
- It’s also essential to define your non-negotiables. Think about your family, what you do for recreation, and how you find time to recharge. Before I plan for my year, these things are already outlined and cannot be canceled or moved. Schedule your wellness. I spend 15 minutes in the morning envisioning how my day will go and 15 minutes at night reflecting on how my day went. I walk. It’s what I do to clear my mind. Find your “thing” and schedule it.
- Finally, remember the people who helped you this year and made it what it was. Practice gratitude by thanking the people who helped you personally and professionally. Being an entrepreneur is challenging, and success can’t happen when you are alone. So acknowledge the people who have gotten you where you are, knowing they will continue to carry you further. A thank you goes a long way.
This guide to success should help build a solid foundation to start your new year. And if you need help envisioning what your upcoming year should look like and how to reach the success you’ve always wanted and dreamed of, contact me today or join Successology™ Virtual Boot Camp on January 13, 2023, from 10 am-1 pm PST. Use code SHIFTMD to pay just $97. That’s a $100 savings!