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Prepare Your Business for 2024

A new year is upon us. Make sure your business is prepared for 2024 with these helpful tips.

1. Reflect on 2023

What went right? Could certain things have gone better? Did anything go wrong? Did you learn lessons that could improve your business operation? What trends did you spot that could affect your business in the coming year? By looking back, you can figure out the best path forward in 2024 for your business. 

2. Review Your Financials
Financial graph depicting ups and downs of market

Assess your cash flow, expenses, and revenue streams. What taxes will you have to pay? Are there tax write-offs you could start using? Making plans for your business without this financial knowledge is like trying to cross a desert without water: You might make it. It’s far better to start off the year armed with this information so you can get where you want to go. 

3. What’s Your Niche? 

Ask yourself: Who are my competitors and what are their strengths and weaknesses? Then ask yourself: What do I do, or could I do, better than them? What is something you could bring to the marketplace that would set you apart? An exciting new product? Excellent customer service? Find the ways to make your business stand out from your competition and then market, market, market it. 

4. Make a Plan

“By failing to prepare, you are preparing to fail” is a quote often attributed to Benjamin Franklin. He likely didn’t say it in real life, but it’s still good advice. If you identified gaps in your operation when you reflected on 2023, determine how to correct them. If you want to add something—new equipment, a new process or product, whatever—work out how you can make it happen. When it comes to marketing, identify your key target audience(s) and make a roadmap of how to reach and persuade them to buy from you. Be realistic about what you can control.  

Meeting in Conference room preparing for new year

You want to plot out your business strategy like a chess player trying to look three or four moves ahead. Ideally you should also have the ability to adapt and change your strategy if the market makes an unexpected move. Working through the steps above will help you set SMART goals (specific, measurable, achievable, relevant, time-bound) for your business. 

5. And Remember…Premier Can Help!

We at Premier would also suggest you examine your packaging needs. Is it time for a design upgrade to make your packaging stand out? Or how about adding automation to save money, time, and labor? We can also be your one-stop shop for packaging supplies (tape, mailers, etc.). 

Contact Premier, and we’ll work together to make your 2024 a great one!