Looking back on the year that was

Looking back on the year that wasLook back to move forward!

As the saying goes, “An arrow can only be shot forward by pulling it backwards.”

This is the perfect time to have a perspective on how the year went, and assess where and how you can change and tweak your business for further success.

As you look back:

Review your progress against set goals.  Are you on track, ahead or behind schedule? If you are not on track, why?  Are your set goals still relevant?

By the way, are you using your plan (your road map) to achieving your goals (your destination)?

Take stock of your business expenses and revenue streams.  Are your expenses all necessary? Are you working within the budget? Which of your products or services are producing the most revenue?

Assess adequacy of your resources.  Have you enough resources (i.e. time, money, support) to meet your goals?  .

Analyse your processes and procedures. What patterns do you see in your product/service delivery? What customer feedback are your receiving? Where can you improve productivity?

Reviewing business systems and procedures helps improve efficiencies and streamline operations.

Evaluate your marketing spend.  Where did you spend your money and what return did you see? Did your customer base grow? How much business did you get from repeat customers? What worked and what didn’t work? Which marketing tactics were most effective?

Review your business management skill. Be honest in looking back where you lacked the skill necessary to effectively manage your business (i.e. time management and resource management).

You and your business will be better off if you seek advice, delegate or outsource for those areas that are not your strengths.”

Taking time out to assess your business will allow you to measure your performance against set goals in order to successfully plan for the new year.

And once you’ve thoroughly pulled backwards your arrow, aim it to your new set target…your new set goals for the year ahead.

Yes, looking back is essential to bring your business forward more confidently.

Do you take time out to assess your performance?  Share your comments with us below.

 

Comments

  1. I’ve been evaluating my marketing spend. If I could turn back time, there are a number of things I would do differently. Good thing each day is a new start and each year has a new beginning. Looking forward to being more strategic and making sure what I choose counts!

    • Vicky Savellis-Grant says:

      Yes if only we could go back. I agree each day gives us a new opportunity. All the best for 2016.

  2. Marie Leslie says:

    These are great evaluation questions for any time in your business, not just year-end. I tried to think of more questions I would add, but I think you covered it all. I am definitely adding these questions to my periodic evaluation.

  3. This is exactly what we are doing with our coach. Once full analysis we can plan our strategy.

  4. Carol Rundle says:

    Great checklist for review as well as planning. I like the comparison to a bow and arrow.

  5. Yes Vicky.. we have to look back so we know what we did to be able to move forward.. great tips

  6. I love all these tips, and I am going to follow them…just as soon as I catch up from being away for a week. Great stuff!

  7. Ariana Fernandez says:

    This is so important and step most entrepeneur miss. I also think gratitude and appreciate for what we had leaned will put you on a great track for post ice start to the new year.

  8. Katarina says:

    Agree Vicky, to analyse and evaluate is always important to reassess…and get better…

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