When I Start Planning for the Next Year of Business

The end of the year is coming up fast which means it’s time to start planning for next year.

This year hasn’t been a great one for many businesses, which only means it’s important for you to plan for a good year next year. That also means you need to think about working within the confines of the potential of 2021 working out similar to 2020. While we all hope that the new year will bring a good atmosphere for business, it’s not guaranteed.

But you can plan bad years if you know about them. You can change how you operate, switch to a new audience or modify your services, you just need to plan for it.

So, When Do You Start Planning for 2021?

We have less than 30 days left of the year, so there’s no time like today to start planning.

I usually start to think about planning for the next year as soon as November rolls around. While it might sound early, starting any later can put me in a rush as the year closes out. And I don’t like to plan in a rush.

I plan my plan. That means I sit down at the beginning of my planning period and figure out what I need to think about for the upcoming year. It’s also important to set aside some time for reflecting on the past year. You can’t plan if you don’t reflect.

Reflecting on the Past Year

Reflecting on the past year can be challenging for a lot of entrepreneurs. It can be hard to look at your failures but without looking at them, we can’t plan properly for the future. That means sitting down with your plan from last year, and figuring out what you managed to accomplish and from that what worked and what didn’t.

Something not working doesn’t mean your failing as a business owner, it means your learning. Learning is good. That’s why it’s important to take the time to gain knowledge from your experiences.

Planning for the Future

With your reflection done, it’s time to start planning.

If things didn’t work out, don’t plan for them again. If you must, make sure that you change things so they have a better chance of working in the future.

You also need to reflect on the climate of the world that’s happening right now. COVID is a real thing that’s affecting a ton of businesses right now and until it’s truly gone (which doesn’t seem to be happening any time soon) it’s going to play a factor in your business.

So, make your plan with that in mind and modify it in the future if things turn out better. And make sure to write your plan down, things are more likely to be accomplished if they’re written down.

Your business and my business are very different. What works for me, might not work for you. So, while you can be inspired by my process, make sure to modify it for you!

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