Now that Thanksgiving is fast approaching and the end of the year will soon be here, it may be a great time to consider some end-of-year planning exercises. If the November/December period is a slow one for you, perhaps you can use this time productively to think about some key areas of your business. Tim Berry, a guest blogger on the Small Business Administration (SBA) website, suggests the following:
-Re-visit your long-term goals. Have they changed? Are you still making progress toward reaching them?
-Review your strengths, weaknesses, opportunities and threats. Do changes in any of these call for a re-formulation of your business strategy?
-Think about your target market. Are you keeping current on what your customers think and say about your business? Are you still concentrating on the right potential customers?
-Reassess your competition. Be sure to include any new competitors that have been gaining ground.
Some businesses are “crazy busy” over the holiday season, but if this time of year is a slow one for you, step back from day-to-day concerns and take the long view. You can read Tim Berry’s complete blog post here.