Reflection is a Crucial Part of Biz Planning

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It’s my absolute favorite time of year. It’s time for biz planning. There’s always excitement and energy around the new year, which is great when it comes to setting new goals. Everyone seems to get so excited for the new year that they jump head first into planning for the new year.

But there is an important step in the process that a lot of people seem to miss…a period of reflection. You have to look back on things that happened over the past year in order to accurately plan for the year ahead. Let’s talk about some things to consider when it’s time to start biz planning for the new year.

Pricing.

Is it the right time for you to raise your prices? Do you feel comfortable with it? If not, when? If yes, how do you have a new pricing structure in mind? One of the things you might want to consider is if you decide to raise your pricing, are you going to allow people to sign up and give deposits at 2021 pricing, but securing their spot for 2022?

There’s probably people that have been on the fence about working with you. Sometimes just giving them that opportunity to secure their spot before you raise your prices is just the push they need. This is definitely something I would encourage you to think about.

Understand the different seasons in your business.

I have talked about this in another episode. Think about the seasons in your business. For me, 2021 has been a little atypical. For example, the fall season is normally very high energy as September and October are usually high launch seasons. But I didn’t see a lot of that this year. A lot of people have moved those launches to the beginning of the year.

It’s true that you can never predict what’s going to happen in the year ahead. But what you can do is examine the seasons in your business and make educated decisions based on what you know. You need to plan for those slower seasons so you can make sure that financially you’re prepared ahead of the game.

Where have you been spending your time?

Look at where your clients and referrals have come from, especially if you’ve been trying a bunch of new things. You want to really look at what worked and what didn’t work. Did you have things that you tried that you weren’t expecting to go well, and they went really well? If so, you want to do more of them. If the data is telling you that something did not work, then you might want to either decide to change it up a little.

Did your schedule work?

I’ll be honest with you. One of the things that did not work for me was my schedule. I did a lot of my coffee chats and connection calls on Thursdays. They all worked out really well because I take Wednesday as my admin day. The problem is that I don’t work on Fridays.

So when I was booked with calls all day on Thursday, I found myself constantly feeling behind because a lot of things happened on Thursday. Clients were coming to me with questions. Things I wanted to get done before the new week. So I either felt like I had to do them on Friday or I had to stay late on Thursday. That just did not work for me. So look at the schedule you had over the last year. What worked for you, and what do you need to change?

Take some time for reflection.

If you aren’t reflecting on the past year, then it’s very difficult to plan for the new year. Don’t try to keep it all in your head. You can think you know what happened this year, and think it’s secure in your head. But the reality is, you don’t! So get it out on paper.

Next step- biz planning.

Day 1 of my Navigate Your 2022 Biz Plan program is dedicated 100% to reflection. I’ve got a series of questions that will help you dive deep into the previous year. Then we move forward and look at what is going to happen in the new year. I want to invite you to join this program. Regardless of whether you join the program or not, I want you to take this time to reflect. Schedule a day on your calendar as your client. It’s that important.

Take the time to do some reflection and dive deep into biz planning mode. Set the appointment with yourself. Make it a non negotiable. It’s fun, exciting, and worth every minute. If you need a little help with this for 2022, join me in my Navigate Your 2022 Biz Plan program. We start on December 6th.

Connect with Michelle-

Navigate Your 2022 Biz Plan- https://michelledenio.vipmembervault.com/products/courses/view/1111818
Website – https://michelledenioconsulting.com
Facebook Profile – https://www.facebook.com/MichelleDeNioBizStrategist/
Linkedin Profile – https://www.linkedin.com/in/michelledenio/
Facebook Group- https://www.facebook.com/groups/fullybookedsolopreneur/

Have Questions? Let’s have a Cup of Virtual Coffee!

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