9 Ways to Prepare for a Profitable New Year

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December 21, 2017
9 Ways to Prepare for a Profitable New Year

Rather than encourage you to set resolutions for the New Year, I thought I’d share tangible ways you can prepare now to make 2018 more profitable. Most entrepreneurs get to enjoy a little bit of down time the last week or two of December. This can be the perfect opportunity to set yourself up for success.

First, take some time to reflect on what you’re most grateful for looking back over the last year. What were some of your biggest wins? What unexpected opportunities did you enjoy? Next, I recommend you choose a few of the nine strategies I share below so you can give yourself a profitable jumpstart for the New Year.

1. Figure out what you need to start delegating. Often, when we first start our business we do it all ourselves. But as your business grows it’s time to delegate some of the menial tasks so you can focus on growing your business. Are you still doing your own bookkeeping? Do you upload your own blogs or social media posts? Are you spending hours refining your PowerPoint presentations? You get the idea… It might be time to find a virtual assistant or other expert to take on some of these tasks so you can spend your time more profitably.

2. Identify low hanging fruit to reach out to next year. Take a look at recent leads that came into your marketing funnel. Are there any you need to follow-up on because it got too crazy to schedule a Discovery Call during the holiday season? Also, think about prospects that expressed interest last year but weren’t quite ready to sign up for one of your programs. Make a list of 10 key leads you can follow-up with in early 2018.

3. Start (or recommit to) sending an ezine. I’ve found having a regular newsletter is far better than any social media marketing you’re doing to attract more clients because they follow you and read every issue. But it seems like it’s one of those things that business owners procrastinate. Come up with a workable schedule for next year and stick to it. See if you can get your first issue out in January!

4. Clean up your computer. You might want to start with your inbox. Did I just hear you groan? It’s worth the effort because a disorganized email box can weigh you down. Take advantage of automatic features that allow you to sort emails into folders or delete messages that are more than a few months old. Also, take time to organize, archive or delete old files saved on your computer. Do you have an up-to-date backup system in place? Make sure you have important documents either on an external hard drive or on a cloud.

5. Clean up your office. If you can’t find anything because of the piles on your desk, it’s time to reorganize. Create two piles – one for shredding and one for filing – and get to work. This will give you a subliminal boost as you start the New Year with a clean slate, or desk!

6. Express gratitude to those who helped you get where you are. This is a great time to reflect on who helped you succeed in your business. But take it a step further than feeling gratitude, express it! Send a holiday card or thank you note to clients, vendors, colleagues and mentors sharing your appreciation for them personally.

7. Think creatively about how to get to the next level in your business. Take some time to think about how can you design a new business model that provides you with greater variety and depth of work so you can charge higher fees next year. What can you offer to those clients who have finished your former signature programs? Consider things like doing your own event, expanding your signature packages, stepping into the corporate arena, or restructuring your private programs to add more value and charge higher fees.

8. Multiply your business by increasing your fees. While you are rummaging through your files take a quick inventory of the number of people who have paid for your signature programs or corporate workshops. How many people paid your 2017 prices? How many testimonials and/or referrals did you get that add to your credibility for working with high-end clients? Set a formula that works to elevate your fees in 2018. Clients expect that with each year prices will go up, so don’t leave money on the table. Go up a minimum of 10% and more if you have great documentation to support how you’ve created a stronger brand that will dictate higher fees.

9. Give yourself a breather. Hopefully the holiday season is your slow time and you can relax and enjoy time with your loved ones. But maybe with the kind of business you run or your family obligations, the holidays just aren’t that relaxing. Get out your calendar and schedule yourself a week off during the first few months of the New Year. Don’t feel guilty! You’ll perform better if you give yourself space to rest and recharge.

I want to take this opportunity to wish you a successful and profitable New Year! If you know you would benefit from some additional accountability and support this year, call 1-800-267-3245 to schedule a complimentary 30-minute consultation.

Predictable Results™ Assignment

Choose three strategies to work on so you can get your New Year off to a profitable start!

As a pioneering and visionary innovator, Sarah is a certified professional image consultant and brand strategist, speaker, trainer and author. Her company, Illustra Business Coaching, provides leading-edge business building strategies for small business owners & entrepreneurs who wish to take their company to the next level.

Illustra Business Coaching
Copyright © 2016, Sarah Hathorn, AICI CIM, CPBS
1-800-267-3245, info@illustrabusinesscoa

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