Are You Planning For a Successful 2023?
Here at Alterego, we had a very busy 2022, but we can already see that there will be some challenges coming not just ours, but everybody’s way in 2023. Can we plan for them? Do we even ‘really’ know what’s going to hit us? We think that this could be a very successful year – if we prepare, and we’re prepared and ready to help our customers with their success. it’s not a time right now to ‘take things as they come’, as Lord Baden Powell famously once said, “Be prepared”.
Have you reviewed your business plan lately? Do you even have one? Are you planning for your business going into 2023? Or do you have more of a let’s ease into the new year first before making any sales or marketing plans, remember the early bird catches the worm. Any worthwhile business owner would tell you that planning for the new year should be a part of your annual routine and not an afterthought.
We thought we would pass some suggestions on to you, things that we have given our own thought and consideration to, in order for Alterego to be as ready as it can be; don’t forget, even if you don’t read this until later into the new year, it’s never too late to plan for the rest of the year as soon as you can.
• As a business owner, what are you going to do to invest in yourself this year? Is there something new to learn, try, or invest in for yourself. After all, if you don’t grow and continue educating yourself, how can you expect your business, your sales and marketing skills, and those who work with you to? There are some great business training courses related to strategies for business. Many are even free, check out ‘Enterprise Nation’ ( https://www.enterprisenation.com/ ) or have a word with your local Enterprise Agency, ( https://www.nationalenterprisenetwork.org/directory/ ), who can offer you free advice, support and mentoring.
• If it’s widening your product knowledge, why not book a warehouse visit to Alterego, we’re very accommodating, and it’s always really valuable to meet our team, and see what’s new. Seeing and feeling the actual garments is so much better than relying on images – as good as they are!
• If there is a particular aspect of your business that you really enjoy, is there something you can learn to take your interest further and make you an expert? New skills and development help to keep you positive and drive your business forward, pick something you will enjoy, not something you think you have to learn because you should. Self-investment is important in all areas of life, so make sure you include a business version. Knowledge is power!
Review 2022 – how did we do?
Take a critical look at the year behind you. You should ask yourself some important questions, and answer them honestly, it will help you to be better this year. If you have an accountant or business adviser, or even a friend, husband or wife who can help you to answer some of these questions and consider what are you going to do in 2023 to become an even better business.
• Are your financials in order and complete?
• Do you know what your turnover was, and what profit you made?
• Did your pricing and postage costs work for you? Are you aware of the postage options that Alterego can offer your customers?
• What revenue streams do you have, do you offer associated products, such as hosiery, Ballerina’s new collections just get better and better.
• Does your website need a refresh, or new features, do you use Alterego’s live feeds, do you have an app?
• Did you have abandoned shopping baskets, can you contact your customers to find out why?
• Which marketing strategies worked and which didn’t? Do you use social media, blogs or newsletters to promote your site or shop, did they work? Do you use reviews? Should you?
• Does your team need to be expanded? And if so, what jobs can you delegate to others to make your own time work better for your business?
Set sales goals for 2023
Based on wherever you are and the current economic climate, set goals that align with your target market. ‘Reasonable’ goals are good, but don’t forget to set a super-goal! Aiming higher means if you fall a little short, you should still over-achieve your ‘reasonable’ goal. Break down those goals into quarters and then monthly and so on, and ensure you regularly track your progress and adjust upwards if necessary!
Set your 2023 budget
You should be able to report on the spending for 2022 and then use that to decide how you plan to approach 2023. Some good questions to think about (and be brutally honest about) include: what is our current cash flow and operating costs? If we invest, can we grow our business? Have you been putting off that website build, shall we go for it this year? Is there anywhere where we can cut costs?
Do a digital clean-up
Clean out your email archives junk and deleted boxes, tidy up your inbox, and get rid of all those unnecessary documents, spreadsheets, folders or anything else clogging up your computer home page and hard drive. These things take up valuable space, and also slow your computer down. A good decluttering is more than a clean slate, it’s a fresh state of mind for a fresh approach to new goals and new thinking.
Most of all…….
Never forget at Alterego we have experts who are here to help you. Their advice and support is free, and they will do whatever they can to help you to grow your business. Have you checked out the Alterego clearance pages? There are some fantastic offers that you can offer your customers there, and no it isn’t just old junk, there are some beautiful garments there.
When Alterego sends out its blogs or newsletters, please take time to read them, hopefully they will contain information, hints and tips which will help you to grow your business, and if you have any of your own that you are willing to share, or some of your success stories, please let us know.
Alterego’s customer service is manned by real people, not robots, so please give us a call for a chat, or drop us an email with your queries. customerservices@alterego-lingerie.com or 01482 623934.
Famous quote from Only fools and Horses – “This time next year we’ll be millionaires Rodney”!