If you do not have a plan for your business, there is no possible way to reach your business goals. The COVID-19 pandemic taught us that we cannot plan for everything, but having a roadmap in place can guide your decisions, even during challenging times. You would not start a road trip without planning in advance, and you should not jump into a new year without strategically planning for the growth of your business. Keep reading for tips on planning next year’s growth.
Know Your Ending
You cannot map out your route until you know where you are going. Determine your business goals for 2021 in clear and measurable terms. Instead of saying, “Increase revenue in 2021,” make your goals more specific. For example, your measurable goal could be, “Increase revenue for business services by 15% in 18 months.”
With your ending in mind, you can break your goals into manageable steps. Knowing your destination makes it easier to plan your path. Instead of focusing only on what you want to accomplish for 2021, your strategic plan should map out how you will get there.
Plan Your Personal Life
Another lesson that COVID-19 taught us is the importance of connecting with loved ones. If your strategic plans for 2021 do not factor in your personal life and family goals, you risk getting burnt out. Going full steam ahead in the direction of your business goals is only possible for so long. At some point, you will need a break to rest and recharge your batteries.
Also, family obligations can derail business plans if you do not plan in advance. Business success loses its value if your family members cannot live the lives they want. Work together as a family to come up with your personal goals for 2021 and ensure your business goals align with your everyday life.
Understand What You Don’t Want
Strategically planning for 2021 does not just involve mapping out your goals. It is equally important to determine what you don’t want for your business. Clearly articulate what you want to avoid for your business, including obstacles, challenges, and setbacks. By identifying these potential issues early on, you can recognize challenges as they arise.
Communicating what you do not want for your business gives you more time to plan ahead. You can create contingency plans in case obstacles do occur, and you can determine which steps you need to take to avoid negative outcomes.
Make Strategic Connections
Business goals are seldom achieved in a vacuum. Your network of peers, employees, stakeholders, and partners will be essential to your success in 2021, so plan accordingly. Determine which connections you will need to strengthen to bolster your yearly plans and which new connections you will need to reach your goals.
Strengthening your network also includes editing your connections. Who you surround yourself with can both help and hinder your goals. If there are connections blocking your progress or standing in your way, it is important to remove them from your circle. While constructive criticism is crucial for success, individuals who do not believe in your vision or seek to tear you down should no longer be in your network.
Learn From Past Progress
It is easy to overlook past accomplishments. While we celebrate them at the time, we quickly move on to the next goal. It is important to look back on the year and recognize all you have accomplished. Your successes and setbacks from the year before can help you better plan for 2021. Get a better sense for what is truly possible in the year ahead by acknowledging what you are capable of.
