Business Planning for 2022
It’s no secret that the last few years have been unprecedented and challenging for everyone and every business. When the world changed due to the COVID-19 pandemic, companies were forced to rethink how they operate. And they’ve had to continue to roll with the punches through quarantines, mask mandates, supply shortages, costly operational expenses and more.
With 2022 quickly approaching, you’ll need to create a business plan that’ll help grow your pet industry business and take it to the next level. Here are a few strategies to consider when looking to the year ahead.
Business Strategies for 2022
Reflect on the year 2021
What worked for your business this year, and what didn’t? Are there areas of improvement? Is your business staffed properly? Are your current employees happy? What can you do better as a leader and business owner? These are all questions you need to review as you reflect on 2021 so that you can create an even better 2022 for your business, your customers, your team and yourself.
Define your goals
Before the year officially starts, you need to define your business goals. Make a list of the goals you’d like to reach by the end of the year, then set clear start and end dates for each individual goal. Include your team in planning discussions, and add these timelines to their calendars to ensure you stay on course.
When creating goals, also note the steps you need to take in order to reach them. It’s best if these steps are as detailed as possible.
Once your goals are created and you begin to work toward them, it’s essential to assess your progress weekly, monthly and quarterly. Set aside time to review your progress to determine if you’re on track, behind or ahead of schedule, then determine your corresponding next steps. Measuring your success on a regular basis will allow you to gain a deeper understanding of your performance so that you can strategically approach your goals.
Evaluate your team internally
Your employees are your biggest expense and your most important asset. As you develop your business plan, take a moment to reflect on your team. Do you have the right people in the right roles to help your business succeed and reach its goals? Is there anyone who needs additional training? Are your top performers in need of a promotion? How can you help make your team stronger?
Revisit your relationship with your vendors
It’s best to revisit your relationships with your vendors and analyze your supply chain each year. An audit and cost review of your vendors can be a key step in optimizing your business costs and workflows.
Audit your equipment
Evaluate your company’s equipment inventory to be certain that your team has the tools they need to perform their jobs well. Does your business need to purchase equipment to reach its objectives next year? Does the existing equipment run efficiently and safely, or does it need updating or replacing? Are you overspending on your capital assets? Has your business changed or decreased, leaving the equipment underutilized?
There’s no denying that the pandemic has changed the way we plan all aspects of life, and it’s becoming increasingly important to learn from the past to help prepare for the future. At Pet Butler, we have a network of business experts, as well as a bank of tools to help our franchise owners plan, analyze and strategize for their business’ future. We’re here to help you create your goals, track your progress and achieve success. Learn more about what it’s like to turn your passion for pets into a business strategy, join forces with us and become a Pet Butler Business Owner.