The new year will be here soon, and one way businesses can prepare for it is by developing realistic and strategic business goals that could help further support entrepreneurial endeavors.
“For 75 years, we have supported and provided coverage for Oklahoma business owners, so we know and understand the landscape,” said Gary Buckner, executive vice president and general manager of Oklahoma Farm Bureau Insurance. “It’s critical for businesses to set aside some time to brainstorm ways to improve their business, and now is the perfect time.”
OKFB Insurance is sharing tips that could help Oklahoma business owners as they prepare for the next year.
• Reflect on past goals. Those who set goals last year should take some time to review those goals. Were they achieved? This analysis can help provide a baseline for where to start when developing new goals. As your business grows, priorities often change. See if any goals and metrics still need to be tracked or if there’s an opportunity to grow a business in a new way.
• Identify and address weaknesses. It’s critical to identify where a business can improve. To start, consider looking internally and asking employees for feedback. This could be done in annual reviews or through a survey. It’s important to address any points of contention to keep a healthy work environment.
Check out Yelp or Google reviews to gather feedback directly from customers. Consider both the positive and negative reviews when developing 2022 business goals.
Plan accountability. Goals can be a great way to track business performance and success, but it is critical to hold the business accountable for achieving those goals. Schedule quarterly check-ins to review and assess the goals set at the start of the year. This can help account for any unexpected changes and goals could be revised as needed.
Those planning for the new year are advised to remember to check in with their insurance providers on their commercial insurance or business owners policy. This will ensure that businesses are protected moving into the new year.