Was 2016 a Year of Success or Failure?
I don’t know about you, but I take time off from being a small business owner/internet marketer at this time of year. The Christmas holiday season and approaching new year is an especially important time for family and friends.
As we approach the new year, it is also important to take a break from business and assess the efforts of the past year. Was 2016 a successful year? Did we meet our goals or business plan objectives? How does our financial picture look?
For me, 2016 was a year of renewal. Late in 2015, as usual, I reviewed my results and planned for changes in 2016. This website is the result of refocusing my internet efforts.
One of my major concerns was whether or not the things that worked for me in the past would work again. The short answer is yes, to a degree. But I spent 2016 learning new tools, reading, reading, and more reading to learn new business and marketing techniques. So 2016 was a year of discovery for me. In that regards, 2016 was successful.
If I was successful in 2016, will my 2017 efforts be as effective in the new year? Are there areas in business that need improvement such as customer service? Are there skill sets I need to be better entrepreneurs?
Once I have assessed my 2015 results, it is time to plan for 2017, make tweaks to my business plan and objectives or goals. I find this time of year a good time to develop a budget for the next year. IF it has been a profitable year, then it is also a good time to squeeze in the last purchase of office supplies or equipment or even some extra advertising to lessen taxes owed to the government. After all, the Internal Revenue Service does not base business tax on what the business makes, but what is left over after subtracting business expenses from business revenue. This is called EBITDA, Earnings Before Interest, Taxes, Depreciation and Amortization.
Beginning after Christmas, I will put together the preliminary financial returns for my business. Based on my assessment, I will plan for 2017 taking into consideration all that I learned this year.
So here is planning for the most successful new year ever.
What are you doing to make 2017 a successful year?