Business Strategy - Twelve months End Considerations

As we enter the final weeks of 2010, you are undoubtedly hunting for gifts. While these are obvious year end considerations, you should also be reviewing your venture technique for 2011.

Enterprise Strategy - 2010

Whether your fiscal year ends in December or doesn't, the end of the month is a fantastic time to take stock of how things went in 2010. While the old saying is "time flies", it's particularly true for businesses. Business owners tend to be fixated on 2 to three month time periods. As a result, they might fail to see developments over longer periods of time.

After you've taken care of all your holiday gift purchases, you should have some down time in the last 2 weeks of the month. Business tends to slow down as folks deal with the holidays, travel to see family and so on. This is actually the perfect time to go back and think about the business year. Specifically, you should give attention to where your business was in January 2010. What were your goals at that time? Did you meet them during the 12 months? If not, why? You are going to almost always be surprised whenever you realize how the venture developed over the last calendar year. This global view might give you a better perspective and evaluation of how things are going.

Venture Strategy - 2011

After contemplating 2005, you should give consideration to what you long for to accomplish and where you want to be by the end of 2006. Ask yourself the following:

1. What is a reasonable revenue increase for 2011 compared to 2010?

2. Are their products or services you should pursue?

3. Are their products or services you should drop?

4. If a method is underperforming, does it make objective sense to continue pursuing it or cut your losses?

5. What are your largest frustrations and how can you deal with them?

6. Who are your most valued employees and have you taken a moment to thank them?

7. Who are your least valued employees and what should you do about it?

8. Which vendors or suppliers do great work for you and which really do not?

Several other questions will perform through your mind. There are no wrong ones. What is important, nonetheless, is you compose the goals and thoughts down and keep them somewhere private. Next December, you should pull them out and see how things are going.

Olawhole Lawrence is the founder of online advertising company New Jersey and A NJ Search Enginer Marketing services firm. For more on small businesses, visit the author's blog.