Planning Ahead for 2023
OK I can hear you asking: "Why are you talking about next year when we STILL have 3 months in THIS year??" And that's a fair question!! I like to plan ahead while still keeping my eye on what's happening today. It's how I've run my businesses for over 20 years and it's helped me stay ahead of the curve and to anticipate how I might need to adjust or change what I'm offering or how I'm marketing. That's especially true after the last few years and all of the turbulence we've experienced! If we start planning for 2023 now, we have a few months to adjust and evaluate before we actually hit the ground running in a new year. Here are 4 things to consider as you make your 2023 plan!
1. Watch for Business Trends
If you've been paying attention to business reports, you're hearing a lot about the R word. While a recession in 2023 isn't guaranteed, it's definitely something to keep your eye on. Think about your cash flow, where you could tighten up if necessary, and what plans you need to have in place in case things do go south. I'm also watching the inventory issues that some vendors are having. That could mean a drop in pricing for us and some good sales. And I'm thinking about housing trends in the US and what that could do to business. You don't need to panic or to have a knee-jerk response to any of it - you just want to be as informed as you can be!!
2. Start Thinking About Goals
Now if you follow me regularly, you KNOW you should already have a list of goals that you review and adjust often. So what do you want to add or change for 2023? Think about BIG goals - is there something you finally want to tackle? Is there something you just didn't get to this year because you were too busy? Or do you want to put some smaller and more achievable goals in place to keep things steady for what could be a turbulent year? ALLLL of those answers are the correct ones - you know your business best. But do make a list of goals NOW for 2023.
3. Assess Your Services
This is a BIG one and many of us just don't do this often enough. Look through the list of services you offer on your website and marketing materials. Are there any that just do NOT fit your business model anymore? Have you been providing a service that isn't even on that list?! The model for interior design has been redefined in so many ways over the last two years. So what is working for you and your clients? And what is NOT? Don't be afraid to buck the status quo and offer services that are unique, but totally fit what your clients are asking for!
4. Plan Your Marketing
You know my mantra: Never stop marketing! But you may want to rethink where you're putting your dollars and efforts. If you plan to add services, you're definitely going to want to promote that to your target audience. And be honest with yourself and how each marketing campaign is REALLY performing. Don't go with your gut, use facts and analytics to back it up. The answers may surprise you.