9 Small Business Growth Goals to Reach For in 2023
The end of the year is approaching—which means you are probably in the midst of or at least thinking about setting your goals for 2023! The beginning of the new year is the perfect time to start fresh and paint a vision for the future of your business. Where do you want to land? How will you get there? Sometimes, these are difficult questions to answer. If you find the prospect of setting goals for the new year intimidating, then you landed on the right blog post!
Choosing a solid direction for your business is a tricky process. You know that you want your business to grow, but you might not be sure which strategy is right for you. Even with a list of wonderful ideas you hope to implement, you still need to choose the best place to start. With this uncertainty, it can be difficult to set any kind of goals, let alone your yearly aspirations. Today, we’re offering 9 themes to consider focusing on in 2023.
1. Set a Realistic Revenue Target
Let’s start simple. Revenue is a great proxy for measuring business growth. Choose a realistic yet challenging number to reach next year. Setting a revenue target can help push your business forward, but don’t do it without a strategy!
To reach those big numbers, start planning how you’re going to do it now. What new marketing strategy can you implement? Who can you partner with to grow your audience? What products can you add to your e-commerce store? Find more revenue growth ideas below!
2. Launch a Product or Service That You’ve Been Thinking About
Expanding your slate of offerings is an excellent way to promote business growth. Consider the products or services that your clients have been asking for. Think through the product ideas you’ve had over the years. Which one is most likely to bring in higher revenues? Which one would be easiest to implement right now?
Get excited about your new idea, but don’t be hasty. Do market and competitive research to make sure your new offering will have the impact you expect.
3. Grow Your Social Media Audiences
Social media marketing is a great place to focus your energy if a larger audience will meaningfully lead to more website traffic and higher sales.
This will depend on your business, industry, and target audience. Find out which platforms your target audience is most likely to use and then concentrate your efforts on those platforms. Develop a social media voice that attracts attention and connects with your audience. Create a content calendar to ensure you’re posting regular content that is relevant and helpful. Try out ads to spread your reach even further.
4. Add An Essential Member To Your Team
Pinpoint a bottleneck in your business operations and think through how another team member might be able to help you in this area.
Would it help to have someone manning emails or the messenger on your website? (Our Virtual Assistants can help with this!) Perhaps another customer service role would make your team more effective. Adding another member to your team might just give you the boost your business needs to grow.
5. Get Your Business Organized
This is probably for newer entrepreneurs. If your business is only a few years old, you may not have put systems in place to optimize your processes. Locate which area of your business can benefit most from streamlining. Get your files organized, start using a project manager, or find other ways to get your business running more efficiently.
6. Rebrand Your Business
Your business has likely changed since you first began. Maybe you expanded your product offerings more than you ever expected or changed the basis of how you operate. These types of changes can distance your business from the brand that you first started out with. If you’re outgrowing your brand or feel that it no longer successfully represents the core of your business, it might be time for a rebrand. Learn more about rebranding in our article here.
7. Launch a More Effective Website
These days, websites need redesigns more frequently than you would think. Whether you go for a fully redesigned site or a simple upgrade, consider how the performance of your website impacts your sales and your business’s ability to function. Does it need to be better organized? Is it easy for your customers to find the information or listings that lead to sales? Enlist the help of an experienced web developer and copywriter to create a website that offers a seamless experience.
8. Enter A New Industry That Would Benefit From Your Offerings
Have you always thought that a certain industry or profession could really benefit from your products? Make the move in that direction.
Consider reaching out to or interviewing thought leaders in that industry to understand how your products or services could really solve their problems. Start by developing new offerings and/or a marketing strategy that targets this specific industry.
9. Implement a Public Relations Strategy
Find ways to spread the word about your business. Check out our guide to winning free press here. Through published articles that include your brand and other mentions online, you can increase traffic to your website and sales. A solid PR strategy can also increase your reach and break your business into new markets and locales.
Write Out Your SMART Goals
Once you settle on a goal or set of goals. Understand the time and resources each will require to achieve. Writing out your goals as SMART goals helps with this process. Make sure your goals are:
- Specific: You know exactly what you mean by your goal. Don’t be vague.
- Measurable: You can define success in a numeric way.
- Achievable: Your goal is realistic for you and your business right now.
- Relevant: Achieving this particular goal will actually help your business grow.
- Time-based: Your goal has a realistic completion date.
Get The Help You Need
Meeting your biggest business goals is much easier when you have adequate support backing you up. A Virtual Assistant can help you with calendar management, email, research, and so much more. Taking these tasks off your plate gives you the time needed to dedicate yourself to these goals and grow your business.
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