The New Year is often associated with a fresh start, but what if your business is already doing well and you don’t want to start over? Michael Patrick, The Property Advocates COO and managing attorney explain that a New Year doesn’t have to mean a completely “new you.”
If your business is firing on all cylinders at the year’s close, you’d likely prefer to keep that momentum going and start afresh. Below are some ways you can maintain your business momentum in the New Year.
Set Goals That Stack
Goal-setting is an important step in planning for the New Year. The goals should be realistic, trackable, and based on the end games you want to achieve.
When you want to maintain your business momentum in the New Year, you should set goals that stack up with last year’s success. Think of these goals as the next step in your progress rather than something that requires you to start afresh.
For instance, if you did really well at expanding your customer base last year, a good stackable goal would be to expand that even further. A great way to keep the momentum going is to make these goals granular. So, instead of setting a general goal of increasing your customer base, set goals based on how many new touchpoints you want each sales rep to have with prospective clients on a daily, weekly, and monthly basis.
Continue to Celebrate All Successes
A key to keeping the momentum going is ensuring that your employees remain motivated. An effective way to do that is to celebrate all of your successes, whether they are big or small.
“Many companies take the time to recognize individual employees and teams after they achieved an impressive feat,” says Michael Patrick, The Property Advocates COO and managing attorney. “But, if you really want to keep people motivated, it’s important to celebrate all of their achievements. This could be as simple as recognizing employees every time a new sale is made, or the company receives positive feedback from a current customer.”
Employees feel much more included and valued when you recognize their achievements. In turn, they’re more likely to remain motivated to achieve even more.
Identify Potential Challenges
No matter how well things are going, you should expect to face challenges in the year ahead. If you’re not well-prepared to handle these challenges, your momentum could come to a screeching halt.
Michael Patrick says you can ensure the momentum keeps going by identifying the most likely potential challenges ahead. Many businesses conduct a SWOT Analysis to identify these challenges.
Standing for Strengths, Weaknesses, Opportunities, and Threats, the analysis can be used as a tool so you can identify the things your company does well now while also allowing you to come up with a strategy that could lead to success in the future.
Being well prepared for the likely challenges ahead can put you in a better position to quickly overcome those challenges so you can keep your business momentum going in the New Year.
About Michael Patrick
As an attorney, passionate problem-solver, and The Property Advocates’ COO, Michael Patrick uses his legal background to solve complex issues and attain the best solutions with the least risk. Michael enjoys mentoring clients through challenges and leading them toward the best outcomes. Michael earned his Juris Doctorate from Barry University School of Law and enjoys spending weekends with his wife, Miranda, and three children, Aiden, AnnaBelle, and Ava.