It seems almost impossible to believe we’re coming up on a new year and three years since the pandemic emerged. Although many businesses have begun adjusting to this new normal, there are still great effects that are impacting business owners every day. We know that 2020 was a year of lessons and newness for many business owners, which in turn has caused many businesses to pivot and adapt.
Serving up success is every entrepreneurs goal and with a new year quickly approaching, it’s important that you are strategizing on your 2023 business goals. It’s so common to set business goals at the beginning of each year and lose sight of them throughout the year – so rather than setting annual goals, utilizing the last quarter to plan your 2023 business goals is key. Keep reading to find out 5 things you can do to plan your 2023 business goals as you get ahead of the new year.
5 Things You Can Do To Plan Your 2023 Business Goals
1. Understand your long-term business goals
The first step into planning your 2023 business goals is first getting them on paper and understanding them. By taking the time to write these goals out and grasp what they actually mean, you’re allowing yourself to set the foundation for the rest of your business strategy. It’s important to remember where you’re headed and why, so ensure your goals are in pursuit of your business destination.
2. Analyze your business with a SWOT perspective
The SWOT analysis uses a lense to analyze your business goals through its strengths, weaknesses, opportunities and threats. When planning your 2023 business goals, implement this tactic to help reveal blind spots within your business goals that you may not see on a daily basis. Strive to complete a thorough SWOT analysis at least once per quarter to hold yourself accountable and aligned with your goals.
3. Set your KPIs for success measurement
Every business owner likes to see the success of their brand. What will you do to ensure you’re measuring your businesses success and overall progress? Taking the time to establish clear milestones and KPIs to help you achieve your business goals will be vital in the success of your business. KPIs are an excellent way to measure progress over time and understand what is and isn’t working in your business and why.
4. Prioritize your business initiatives
Once you’ve aligned on 3-4 solid business goals, it’s now time to take those goals and prioritize them based on your business initiatives. Consider your resources and prioritize each initiative accordingly and if you’re looking for a good place to start, remember four initiative per goal is an excellent ratio.
5. Hold yourself accountable
Our word for 2023 is accountable! Don’t expect to meet any of your business goals if you can’t hold yourself accountable. Being accountable should come into play the moment you establish your goals. We know it can be extremely tempting for any business owner to get bogged down with the day-to-day activities of running a business, but this won’t help in holding you accountable if you don’t nip this in the bud in the beginning of goal setting.
Taking the time to plan your business goals is the best way to ensure your business starts off on the right foot in 2023. Apply these five pieces of framework into your overall business strategy and see how much simpler and achievable your big audacious goals will feel!