22 things to add to your new year business strategy in 2024

Startup life is a rollercoaster of ups and downs. We get it, because we’ve done it. One of the key things we’ve learned is to focus on what you can control, be positive, and remember that the next opportunity is always just around the corner (but you do have to be looking for it). That’s why we love setting a new year business strategy.

Here’s our 22 things to do and strategies to improve business performance that’ll help set your business up for success and growth in 2024 (and yes, the sooner you get started on most of these, the better):

1. What tasks have been sitting on your to-do list since September *cough* last January? Do everything you’ve been putting off before you do the rest of this list. You’ll feel so much better, trust us.

2. Take larger tasks and break them into smaller tasks to build momentum. If goals or tasks feel too large or too hard then it just means you haven’t broken them down into enough steps yet.

3. Honestly think about how you felt about the previous year. What felt hard? What didn’t go to plan? Which projects did you smash and which ones smashed you?

4. Be positive. What didn’t go to plan, and what can you learn from those experiences?  It’s better to learn from your mistakes so you don’t repeat them – ignorance is not bliss!

5. Take the time to (properly) analyse your books for last year. What months were leanest and busiest? What were your major expenses?

6. Plug all this data into a cash flow forecast. This will help you know where and when your $$$ is going.

7. Review your projects and clients for the previous year. Which were the most profitable, and who did you enjoy working with the most?

8. Collect testimonials from customers and clients. It’s easy to let this fall off your to-do list, but gather testimonials before too much time passes, so you’re ready for any new campaigns.

9. Identify your dream client, project, target audience. If you don’t know who or what it is, how will you know what opportunities or paths to pursue?

10. Map out a plan for each current client. What projects or goals do your clients have, and how can you add more value to them?

11. Reach out to past clients you’d love to work with again. Touch base (it doesn’t have to be a sales pitch)  with clients and customer groups you want to focus on.

For more small business tips and advice, plus business tips for startup founders, subscribe to our newsletter.

12. Critique your client acquisition process. Make sure new clients have a seamless experience by being (brutally) honest with yourself about any past hiccups.

13. If you need to increase your revenue, set some goals and get strategising. How many new projects or clients do you need to hit that target? Will you chase one $10k project or 10x $1k projects, etc.?

14. Can you expand or diversify your offering? Is it possible for you to add a passive income stream? A new branch of your services? Target a new audience?

15. If your revenue is reliable, refine your internal processes. Even if they’re not broken, can anything be improved, updated, streamlined, automated, outsourced or removed?

16. Consult your team about this too. You should seek team feedback on internal processes regularly, but definitely include them in any process or system changes.

17. Touch base with your team about their roles. Collate what people like and what they find frustrating. Some responsibilities could be moved around to better fit team members’ goals and preferences.

18. Identify any skill gaps and plan personal development accordingly. It’s important to know what training you need to source to upskill your team, and to actually schedule them.

19. Review business policies and flexible working arrangements. Help your employees balance work and personal lives by providing flexibility where possible.

20. Recruit (or plan) for having enough manpower to meet demand. Avoid onboarding new staff during your peak period – it might impact customer experience.

21. Back-up your data & check your cloud storage accounts.You should be doing this regularly, but it’d be remiss of us to not remind you to while we have your attention.
    
22. Remember to schedule in time to rest and recharge. You’re probably one of your business’ most important assets. It’s a lot easier to take a planned break than it is to recover from burnout.

Your new year business strategy all boils down to this: Energy flows where attention goes.

If you want your business to grow in the next year, you’ll need to do the groundwork and make sure you’re planting these growth goals in a fertile environment.

Need help from an accountant to help you clearly understand your financial situation and create a new year business strategy accordingly? We’re growth-focussed accountants, and work with startups and established businesses of all sizes to level up and look towards the next big goal.

Get in touch