Business planning for the new year.

The end of the year is approaching fast. Before you get swept up in the excitement of the holiday season, there’s one important thing left to do: business planning. A lot can change in a year, and as things evolve, your business strategy should evolve accordingly. By taking the time to set your intention for 2022, you’ll have the tools, focus, and resolve that you need to achieve new growth and success in the new year.

Take stock of where you are now. What did you accomplish this year? What could have gone better? Conduct a SWOT analysis to identify your strengths, weaknesses, opportunities, and threats. You’ll use this information to help narrow down your goals for next year and identify areas for improvement. As you review the results of your SWOT analysis, try not to get hung up on the negatives. Instead, focus on how you can leverage your strengths and opportunities to overcome your weaknesses and threats.

Once you have a clear picture of where you are now, think of where you want to go next. What do you hope to accomplish in 2022? Perhaps you want to increase revenue, grow your customer base, or build your online presence. Or maybe you need to improve your internal systems and operating procedures. How about working on professional development, such as learning a specialized skill or earning a certification? Choose three to five areas of focus, and create SMART goals to help you achieve them:

If you don’t already have vision and mission statements, take some time to create them. Your vision statement should be forward-looking, describing what you ultimately hope to achieve, whereas your mission statement should be set in the present and explain what you do today to accomplish your vision.

Now that you have your goals set, make a list of action items so you can hit the ground running in January. Do you need to hire more staff or outsource a key business function? Are there projects you need to close out so they don’t interfere with your efforts in the new year? Remember to schedule regular goal check-ins (at least quarterly) so that you can measure progress and adjust your plan as needed.

This is also a great time to do some internal housekeeping, such as sprucing up your website or running year-end financial reports. And when you’re done with all the prepping and planning, schedule in some time to take a break so you’re re-energized and motivated to start the new year strong.