How to Overcome a Crappy Business Year
Holy Guacamole! Raise your hands in the air like you just don’t care because 2020 is finally over! Even though the year is over, the energy is still in the air. A lot of business owners are at a crossroads still feeling overwhelmed, bombarded, abandoned, and frustrated. For many, 2020 exposed a lot of negatives, but for some there were positive moments. No matter what happened for you during this time we can all agree some serious lessons were learned from 2020.
Now, I know that some people who read this might want to focus on the negatives from this year and that is completely fine. We all have a choice on how we react to situations no matter the outcome. For me, for my business, for my life, and for my platform I choose to look at things in a positive light.
At the end of the year, I like to take a weekend to sit down and get a full blueprint of every area of my business with a magnifying glass. This year I used some new tactics and I’d like to share them with you. These business planning tactics will change your business and how you plan for the next year.
Pull out your pen, paper, spreadsheets, notebooks and binders and let's get to work. Here a few simple steps…
Step 1: Self Analyzation
In business, we all know that there is power in tracking but we all have different versions of tracking. For instance, someone may only track projects, profits, expenses and marketing but fail to look at every avenue in each category.
Why am I bringing this up you wonder? Good question. Well, one of the most important lessons I learned this year was the true power of tracking. When you track effectively you can quickly assess your business for incoming obstacles, strategies and area of opportunities. The main difference between a successful and failing business in 2020 was their ability to adapt quickly. If business owners have a successful and thorough tracking system they’re able to predict outcomes efficiently.
Here are a few questions to help you analyze areas that 2020 brought to light:
Write down all areas that 2020 exposed.
What areas do you need to improve in?
Where can you cut expenses?
How can you automate certain activities?
What are your profit and loss sheets?
What is your Inflow and outflow?
The objective is to find your strengths and weaknesses that were exposed in the year. Once you know exactly what you were good at and what needs to be improved then you can build a blueprint for an even more successful next year.
Step 2: How to Overcome
Once you have discovered the areas in your business that need improvement, take time to create a road-map on how to overcome those obstacles. 2020 happened to all of us in business and we all had to overcome those obstacles together. However, if it happens again we must all be prepared for every avenue.
Giving your mind a road map is not just simply writing down some ideas that may or may not work. This could be the hardest part of business planning because it requires some research and humanity. It calls for you to reach out to other colleagues and industry experts to figure out how they succeed in such areas, or how they plan to overcome the same obstacles. To find success, we have to give our brains a step by step instruction on how to overcome any drawback that may arise.
For example, in 2020 your lead traffic was exposed and you are not getting enough leads into your funnel. However, you noticed that when you do get leads into your funnel you can convert them at a high rate. Through your self analysis you found out Facebook was your best source of traffic but you are spending the least in that marketing strategy.
Now here’s what your mental road map might look like in your effort to solve this issue:
“If my sales traffic were to decrease like before I would analyze all marketing traffic sources, I would cut all marketing budgets by 30% on the outlets that are performing under $2 per conversion. I would take that 30% I saved and add it to the budgets of all marketing avenues that are out performing. I would increase our web presence with three times more posting on social media….”
You see, we are giving a direct and assured game plan for our brain to follow if the obstacle were to come up in the future.
Step 3: Three Main Goals
A wise man once said “you overestimate what you can do in a year and under-estimate what you can do in 10 years.” With that in mind, we are going to think of three goals you will accomplish for this year. Now these three goals can be personal, business-related. Just make sure you choose three goals that are so big and juicy, if you were only able to accomplish those three you would still feel happy and successful.
This is not a New Year’s resolution! These are three things you will keep at the forefront of your mind and accomplish by working your butt off.
Find one thing you can do each day to move towards accomplishing those goals and do not stop until you CRUSH them. This year will be your year of so many firsts and so many memories, but only if you allow it to be! Write them down, live and breathe them, and go after them with everything you’ve got!
YOU GOT THIS!