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How about starting the business planning for 2020? The end of the year is the perfect time for companies to review their goals and set new goals for next year.

 In this way, companies can grow in an organised manner and achieve their goals effectively.However, some managers have questions about how to do this kind of planning.

 You are one of them? Then read on to discover our 5 tips for planning your business for the coming year. 

 

Create the company SWOT matrix

Business 2020

The elaboration of the SWOT matrix makes all the difference in business planning for 2020.

Through this tool, you can gain an overall view of the weaknesses and strengths of your business. Based on this information, you can identify business problems and plan actions to address them.

 

The creation of this matrix is ​​very simple and can be elaborated from the analysis of the following factors:

  • Strengths: Describe all the positive points of the company, meaning, well-developed activities, equipment, staff, and others;
  • Weaknesses: List projects that are not producing good results for the company and need to be addressed;
  • Threats: analyse the possible threats that may arise throughout 2020. Above all, those factors coming from the market such as competitors, legislation, manufacturers and others;
  • Opportunities: Actions or factors that are available in the marketplace that can be used for your business.

After gathering this data, review the information and see what actions can strengthen your business next year.

Throughout 2020, stay current and modify your planning.

 

Set goals for 2020 

Goals are the key to your company’s success in the marketplace. So take the time to plan and set short, medium and long term goals for your business by 2020.

To find out what are the best goals for your business, simply use the data from your previously created SWOT matrix.

With this feature, you may feel the need to create goals such as:

 

  • Increase revenues;
  • Reduce costs;
  • Hire new employees;
  • Create new partnerships;
  • Increase the customer base of your company.

Ideally, goals should be bold and motivate your entire team to achieve them.

 

A good tip for making them a reality is to break down the objectives overtime periods: 

Short term: actions that must be performed within 3 to 6 months;

Medium-term: activities lasting from 1 to 3 years;

Long term: Goals that need to be met in about 5 years.

 

Create a marketing calendar

Business plan 2020

Another tip for planning your business plan for 2020 is to create a marketing calendar.

With this tool, you’ll be able to plan your company’s promotional actions efficiently and make multiple sales. Also, you can plan sales with each vendor and ensure sufficient inventory for commemorative dates.

You can also schedule marketing campaigns and other promotions.

To better organise this information, use digital tools like Google Calendar and share dates with other employees at the company.

 

 

Hire good people

An entrepreneur’s life is not easy. After all, he needs to make decisions under pressure, analyse financial indicators, and still think about customer service and quality products/services offered.

 Due to the accumulation of responsibilities, even the most experienced manager needs to form a team of employees.

Thus, they will be able to deal with complex situations without the presence of the manager, besides reducing the accumulation of functions.

Remember that this type of hiring is reversed in increasing the quality of service and products/services provided to customers.

So be sure to find qualified professionals and offer them good working conditions.

 

Attend networking events in the next year

Business plan 2020

Event attendance should also be part of your business planning.

 Include attending lectures, webinars, and training that bring together experts who can contribute to improving your company’s bottom line.

At these events, you can learn from the experience of other professionals who are prominent in the market. In lectures, for example, it is possible to identify and avoid mistakes that are usually made in the management of any company.

 A nice tip is to do research and plan to participate in this type of event in advance. That way you can prepare everything to be out of business for a few days.

 

Now that you know our business planning tips, what do you think of putting them into practice?

 

The sooner you start analysing and setting goals for your business by 2020, the better your business chances are.

 

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