Planning for a Better Business Year

Tuesday Thoughts and Wisdom for Female Business Owners, Women Entrepreneurs, Small Businesses

As a woman entrepreneur, the question you may ask yourself is “How can I gain an internal and aerial view of it is strong, vibrant and relevant in today’s marketplace. Here is some quick advice to help you see your company more clearly from both an external and internal standpoint.

Conduct Semi-Annual Reviews:  Twice a year a woman entrepreneur should spend a half a day or  more to do the following:

* Get quiet and list to your deep gut feeling on how your business is doing. Is it developing  the way you  envisioned it to develop? What feels right and what doesn’t.

* Write down the top ten successes and top ten areas of improvement you’ve experienced in the past six months. List what you want to continue to do and what needs to change to make you more successful.

* Contact five customers and quickly ask them for the top reason they do business with your company and something they think would improve the company. Remember their comments, keep doing what you are doing well, and make adjustments where you need to.

Take Three Women Associates to Lunch: 

In the next two months, contact three women in diverse fields who are affiliated with your company, ask them out to lunch to discuss your business. Tell them why you appreciate their opinion and why their feedback will give you a better perspective on how to develop your business. Choose women who know you in different ways, have diverse backgrounds, and who will bring constructive advice to the table. Their ‘aerial’ perspective will help you see your company from a higher ground.

Discuss Your Vision with a Business Advisor:

 After you have gathered information from your own perspective and others, make an appointment with a business advisor (someone from the SBDC – a government funded organization in your county that provides free business advice) to discuss core changes to your business plan to keep you on track, to make adjustments in this changing economic climate, and to enhance or change parts of your business from those customers and associate suggestions. Revisiting your business plan can help you maintain your core services and make adjustments to give your business a boost.

Don’t let this important exercise get away with you especially as a new business year begins to unfold.