Achieve Your 2023 Business Goals by Planning Ahead. Here’s How.

Successful business owners plan ahead. As simple as it sounds, taking a couple of days in Q3 and Q4 to identify your business goals and strategies for the following year can bring you that much closer to making those goals happen.  

Ask yourself what you want for yourself and your business in 2023. Goals are usually tied to time, money or reputation. Do you want to increase revenue? What about your profit margin? Do you need to hire more staff so you can enjoy more free time? Or, perhaps you want to start collaborating with a local nonprofit to give back to your community.

Then, examine what’s getting in the way of those business goals. Are you facing time constrictions? Money limitations? You may also want to evaluate expectations from external factors like employees and family responsibilities.

Free Resource: 2023 Business Plan Template

Writing down your business goals ahead of time — and determining the steps you need to implement to achieve them — will hold you accountable throughout the year. Download our free 2023 Business Plan Template to map out your goals and strategy for the year ahead.

Start With Your Mission Statement and Core Values

Before getting into the nitty gritty of marketing and sales strategies, operations and financials, develop your mission statement and core values. They will help you identify your 2023 business objectives and guide you as you work on your plan. 

  • Your mission statement is the way you communicate your unique value proposition to the marketplace. 
  • Your core values describe the tenets by which you will conduct your mission.

The Five Pillars of Sound Business

We use the Five Pillars of Sound Business to develop and implement sustainable business plans and strategies. Take a look at the pillars below to help you get started.

1. Sales & Marketing 

Marketing is a crucial component of any business. Its main purpose is to generate leads that can then be converted into paying customers by the sales team. This process often involves utilizing a variety of tools and strategies, such as social media ads, email campaigns, promotional offers and more. 

By understanding your company’s business goals and focusing on effective lead generation tactics, a strong marketing team can help pave the way for success in both the short term and long term. 

Ultimately, the goal of sales is to help your business reach its business goals by meeting the needs and desires of your target audience. Whether you are trying to drive revenue, find new customers or build customer loyalty, smart sales strategies can help you achieve these goals and foster long-term success for your business. Don’t underestimate the power of client relationships and the art of following up in your sales strategy.

Important Tip: In order to reach your revenue goals, you must reverse engineer your sales and marketing goals so you have targets to reach each quarter, month or even day, depending on your business model. Contact us to help you navigate this process.

2. Human Resources

Question: If you could only hire one more person in 2023, who would it be? 

Business owners sometimes forget that human resources are your top investment in your company. 

When running a business, it’s crucial to take the time to carefully vet, hire and train your employees. Not only do you want to ensure that you select people who are qualified for the job and will be able to contribute positively to your business goals, but you also want to create an environment where your employees feel motivated and supported.

One effective way to vet potential candidates is by conducting in-depth interviews and observing them throughout the hiring process. During these conversations, ask the right questions so you can get a clear picture of their skills, strengths and weaknesses. Additionally, be sure to observe candidates during group activities and when interacting with colleagues or customers so you can evaluate their interpersonal skills as well.

Once you have narrowed down your pool of candidates and made your selection, work closely with them to develop their skills and help them reach their full potential. A key component of this process is providing ongoing feedback and support as well as establishing clear goals and expectations. By investing the time and energy into training your employees effectively, you will ultimately see greater success for both yourself and your business.

Tip: Make sure your employee manual outlines the rights, responsibilities and consequences of breach for your staff. 

Not sure how many employees you should add to your team? You’ll know once you set your sales and marketing goals. Just be sure to understand your production cycle.

3. Production & Delivery

Maintaining a clear and well-defined production cycle is critical for ensuring that your operations continue to run smoothly even when unexpected problems arise. Having a set schedule or timetable not only allows you to stay on track and reach your business goals, but it also provides you with insights into the steps that need to be improved or modified in order to prevent future issues. 

Whether it’s monitoring inventory levels, tracking manufacturing processes or simply reviewing workflows and operational procedures, your production cycle provides you with the information and knowledge needed to keep your business running like a well-oiled machine. 

Tip: You should be producing what your sales and marketing team said you would produce within the timeline they said you would produce it. If you notice problems here, address them quickly!

4. Management & Ownership

Smaller Companies

For many smaller businesses and startups, management and ownership are often one and the same. While this can certainly help to streamline operations and cut down on unnecessary costs, it can also prevent business leaders from setting meaningful long-term goals for their company. Instead of relying solely on your own instincts as a business owner, take time to think critically about what sorts of goals you want to achieve as a leader. 

Try to identify areas where you can improve upon your business skills or develop new skills that will allow you to grow in your role and train others who will eventually take over leadership positions themselves. With the right planning and foresight, you can ensure that your business continues to thrive for years to come.

Larger Companies

In today’s competitive business landscape, many larger companies are finding themselves struggling to keep up with the fast pace of change. This often leads to management becoming bogged down with daily issues such as production and delivery, as well as problems with human resources. To avoid losing sight of their ultimate business goals, companies must focus on introducing development opportunities that help managers stay current and grow themselves as leaders.

One effective way to do this is through targeted training programs specifically designed for business leaders. These programs can include a range of topics such as business strategy, finance management and crisis management. By encouraging managers to engage in professional development activities on a regular basis, companies can ensure that they are always focused on achieving their business goals and optimizing growth potential. Ultimately, investing in leadership development is key to long-term success in today’s economy.

Tip: Identify training seminars for your management team to attend in 2023.

5. Financial Controls

In order to achieve business success, it’s essential to have a clear understanding of your cash position at all times. This means that every business owner should start off by creating a detailed cash flow analysis. By doing so, you’ll be able to track how much money is coming in and going out on a regular basis, and identify potential areas of weakness before they become problems. 

With solid financial controls in place, you’ll be better equipped to make more informed business decisions to reach your business goals. Whether you’re just starting out or looking to take your business to the next level, having a concrete understanding of your cash position is key to your success. 

Tip: Find a financial expert or advisor that you trust. Retain them to take care of bookkeeping and tax work. Doing so can help you maximize your money and avoid penalties. Plus, it saves you hours of precious time!

Make 2023 Your Best Year Ever

Our business attorneys and strategists are ready to help you achieve your business goals in 2023 and beyond. Make sure to subscribe to our newsletter for monthly tips and tricks to keep you on track all year long. You can also contact us for a consultation. We look forward to hearing from you!

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