Four Ways to Reassess Your Business Strategy in 2018
By: Jennifer Morrison
Time does not stand still for anyone or anything, including your business. As changes in the market, laws, and society take place, your business must adapt and align itself with shifting trends. A new year is a prime opportunity to take a step back, conduct an analysis of your company’s overall strategy, and decide if it’s time to reset.
What are you proud of and what needs improvement? One of the most difficult parts of reflection for anyone is acknowledging your successes and failures. This line of thinking is such an important part of evaluation and planning, though. Looking at the full picture allows you to continue leveraging and funding the resources that work, while cutting back on those that don’t. Was your infrastructure unable to keep up with client demand? Are you and your employees spread too thin? Don’t be afraid to acknowledge your accomplishments or milestones, even if they don’t specifically relate to your overall goals. If you were able to recognize that you needed additional help, and in turn hired the right talent, congratulate yourself and make sure you’re optimizing those additional resources.