Now is an excellent time to start preparing for 2023.
Maybe you’re outside a peak sales period or in the stages of getting ready for another one. Either way, you should have an outlook on when you can start making 2023 preparations.
It’s not like you can order a crystal ball from your office supplier. However, you might see the news headlines and have an idea of what your focus needs to be in the new year.
There’s no point slapping a 10% increase on performance or revenue and expecting it to happen. Here is what you need to consider for the next 12 months to incorporate into your planning.
Growth Vs. Maintaining Performance
Browse any news website, and you’ll see headlines about rising interest rates, broken supply chains, and other doom and gloom stories. While it might not impact you directly, there is a high chance it’s affecting your customers. Many will take a few extra seconds to decide whether to purchase your product or service.
So if you saw growth in sales or revenue last year, then there’s a possibility you might not be able to replicate it in 2023. Especially if the company decides not to increase your budget. You don’t want to go backwards though. So maybe you should focus on doing the same with less. In a way, this is still growing. You will have spent less year on year, which will go to the bottom line.
Where to Invest
If there is funding to improve year on year, the question for you is, where is it best spent? Are there operational enhancements that can support frontline or equipment that is severely out of date?
Start with a wishlist of all the areas where you would spend this funding. Next, prioritise it against the goals of the organisation. What activities will enable your team to achieve these objectives? It might seem like a time-consuming task, but it’s worthwhile.
Do Your KPIS Support Your Goals?
You should constantly review your KPIs to ensure they drive the right behaviours. Some are givens, like sales conversion and customer satisfaction scores. But do the remainder motivate your people to achieve their goals and push you closer towards the company objectives?
Ask yourself this question with every KPI. Some might be designed to keep staff in line, which isn’t really motivating. Consider changing it so it connects with them and provides them purpose. You’ll find that you’ll get greater benefits, and it will push the business in the right direction.
Where is the Company Going?
With the world changing drastically over the past two years, has your company changed its purpose and place in the industry? When the world was on pause, perhaps they decided to go in a different direction or pursue another path. You should be clear on this before you put any plans into action.
Once you understand the company’s direction, you can align your plans and KPIs. You need to know the role you play in getting the business to its destination. It’s also vital you share the path with your team members so they can contribute to the cause.
Are You Ready for 2023?
For many businesses, 2023 might be a tough year. It could mean changing direction, making adjustments to operational rhythm, and doing more with less. But leaders strive in these environments. It helps you sharpen your skills, think differently, and adapt to overcome obstacles. Lean into the uncertainty, and don’t be afraid to try something new.
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