As we think ahead and plan for 2023, it's common to set "New Year Resolutions". If you're an entrepreneur, you're probably setting these for your business.
In this blog post, we're putting forward 5 suggestions that you may want to implement this year if one of your goals is, of course, growing your company.
Here we go:
#1 Define clear objectives for the year and create a plan to achieve them
Objectives that are vague and not accompanied by a plan with actionable items to achieve them, probably won't be achieved.
So as you think through and set your New Year Resolutions for your business, be clear about them and make your goals SMART - Specific, Measurable, Attainable, Relevant, and Time-Bound.
Additionally, lay out the tactics and formulate a plan with actions that will gradually get you closer to your objectives.
This can sound condescending and be over-simplistic, however, it's easy to lose ourselves in the big picture and lack the clarity needed to make it into a reality.
#2 Invest in marketing and sales to reach new markets and customers
If you've really set your mind to growing your business this year, then you'll need to consider international expansion.
Analyze your product, and look at your target audience and the problem you're solving. With these in mind, identify 2 to 5 key new markets you'd like to target and formulate a plan to penetrate them.
If you're not too sure about which territories to approach and which markets to prioritize, or how to go about it all, we can help. We're experts at helping small businesses expand their business in EMEA, so get in touch for a 30-minute call to discuss where you are with international expansion at the moment and whether we could help you grow and expand globally.
Schedule the call here.
#3 Build and invest in strategic partnerships as a way to grow your business
In a previous blog post, we discussed the direct and indirect approach to sales. Both models have advantages and disadvantages - as you can read here - but a clear virtue of the indirect sales approach is the multiplier effect generated by establishing mutually beneficial partnerships.
Partners can be of many shapes and forms - as you can also read more here - but one thing is clear, the right partners will elevate your business and help you grow faster and more widely.
#4 Prioritize building a positive company culture that will motivate your team and partners
It's been said many times before and we'll say it again, happy employees are vital to your company's success. After all, your employees are the face of your business and represent your company in your clients' minds, so the happier and more satisfied they are the better picture they'll paint to your customers.
The same goes for your partners. If opt for an indirect sales model, your partners will interact and reach out to clients on your behalf, so it's crucial to keep the relationship positive, productive, and trustful.
#5 Incorporate customers' and employees' feedback to improve your products and services to stay ahead of the competition
Being able to keep relevancy in the market and stay ahead of the competition are probably two of the biggest challenges for all CEOs and entrepreneurs.
The best way for you to ensure you're successful on both accounts is to listen to your customers and employees, continuously incorporating their feedback into your products and solutions.
So as you plan ahead and define the strategy for 2023, think about ways you could listen more to your clients and staff, and how can you integrate new feedback with greater flexibility and agility.
And with that, we've reached the end of this blog post. We hope these suggestions inspire you and serve as a reflection as you plan and project for the year ahead.
Which one resonated the most? Did one of these resolutions spark particular interest? Let us know in the comments below.
United Channels Consulting is a consultancy company specializing in helping small tech vendors expand their business in EMEA. We do this by connecting your business with relevant partners local to the territories you're targeting and acting on your behalf, generating leads, building relationships, and converting deals.
If you like to understand more about our unique model of internationalization and see if we would be a good fit, send an email to Catarina at catarina.esteves@unitedchannels.net.
About the author
João Beato Esteves is the CEO of United Channels Consulting. He founded the company in 2017 after 20+ years of working in the IT and cybersecurity industries developing channels and leading sales teams for prominent companies such as Symantec and disruptive start-ups like Watchful Software.