How To Make 2013 An Amazing Year – By Evaluating 2012 Business Performance
Its nearly the end of November now. 11 months has passed. How has your business improved? Did you hit your income goals? Are you more fulfilled about your business? Business needs to be looked upon a holistic approach to bringing you more income, fulfillment and joy. These are the key factors to evaluate your business year to make 2013 an amazing year.
How has your business grown?
One of the easiest ways to evaluate business growth is income growth. How has your business grown in 2012? What activities caused the revenue to soar? How can you take those lessons and ramp it up for 2013?
For me, my business has grown by 40% in 2012. It has been one amazing year, however it is only warm up, I believe. 2013 is going to be mind-blowing. The reason why it grew so quickly is because we provided more advanced tiers of coaching in accordance to our students’ requests. This became a new income stream for the company, while our students results grew with the year long coaching program.
In business, there is always a need to create new income streams because there is so much that you can acquire from one source. One of my Inner Circle Students, Eric was getting frustrated with the slow cycle for CRM solutions and through our brainstorming, he created a new income stream from coaching people to set up their CRM Systems using free tools.
So analyze your business and brainstorm of ways to increase your income streams.
How was your marketing strategy? What worked and didn’t work?
Your business is dependent on how you market your business. Marketing strategy usually breaks down into these segments:
- Marketing Channels – how are you marketing to your clients? If one or two channels are not working as well, it is important to evolve to new channels
- Marketing Message – how are you communicating to your prospects? It is important to tweak and track the performance of your messages constantly
- Marketing Partners – have you found marketing partners who can market your product or service to their database, which consists of your target market?
- Pricing Strategy – how are you pricing your products or services in comparison to your competitors? You want to create a business that stands out from your competitors and makes it a no-brainer to select you
What new skills have you mastered as a Business Owner?
As a business owner, you NEED to keep learning and improving to get better. The mass between your ears is the most important element of success.
What are the new skills that you have mastered in 2012? If you have not, its time to sit in a corner and reflect about it. Businesses stop growing because the owner has stopped growing. You need to spend 30% of your time learning new skills or improving existing skills. I have 3 amazing business mentors who constantly push me to the next level even when I do not want to move and it has helped me open up my mind and see the bright future.
Now, plan the new skills to master in 2013. What are your business and income goals for 2013? Write down all the necessary skills required to hit the new income goals. Identify all the possible outlets to master these skills in an interactive way. Mastering these skills interactively is important because reading to learn is useless unless you apply it into your business. Even after you apply it, there are still tweaks to improve to make sure that you are getting the ideal results.
These 3 factors are critical for your business to grow to the next level for 2013. Allocate 2 to 3 hours evaluating your business for 2012 and what was holding it back and pushing it ahead. Identify how you want to finetune your business strategy to hit your big 2013 income goals.