Are you preparing for 2021 in your business? We are coming up on the holidays and I want to make sure that you have maximum time to relax and recharge. Especially given everything that’s gone on this year, I think we deserve it big time.
That’s why I want to talk to you about the 5 things I do in my business to wrap up for the year, and plan for the start of the new one.
With two studios, I have a number of instructors and physical therapists who work with me at Pilates in the Grove. That means I actually prep the reviews at the end of November/early December so that I can get those out before the end of the year.
If you have anyone else on your team, now is the perfect time to plan for an end-of-year review or schedule a meeting to touch base. You can either use a formal “interview” process, or you can provide an email or phone call review where you present their review and any important information.
Usually, this is where I renew contracts with 1099 instructors, or discuss raises and benefits with employees. I know that this may not be possible for many of you out there after this year, so think about what you can offer anyone on your team to say thanks for their hard work, or to make any necessary transitions.
Making sure that income and expenses are all accounted for and everything lines up is so important every month, but especially as we near the end of the year. So make sure you get all of your books reconciled now.
Not sure what that means? It’s ok! Basically it just means that all your income and expense records match up with how much money you’ve currently got. We’ve all been in that position where we realize we had less money in the bank than we thought, and it’s because an automatic payment came out or a certain client hadn’t paid their invoice.
By working to reconcile all that now, you can give yourself more breathing room at the end of the year. This also helps prepare any W2 or W9 team tax documents for 2021.
I recently held a yearly planning meeting for both of my brands: Pilates in the Grove and Christa Gurka Coaching. It was great to map out what our goals or promotions were for each month, and to then see what we needed to do to really get those up and running.
You do NOT have to plan out a whole year like we did, but it doesn’t hurt to at least get Q1 on the books. To get started, ask yourself: What are you doing in January especially to market your services, grow your business, or serve your clients? Are there any initiatives, sales, or marketing projects you want to plan for in February and March? From there, you can break those down into tasks or projects that are easier to execute on so you’re not overwhelmed in the New Year.
Of course, this is also a great time to think about certain goals you have, such as revenue, hiring, number of clients, etc. What are those numbers and what do you need to do each month and quarter to make them happen?
After the pandemic, and in any given year, there may be lessons you learn that require you to make changes. This year, for example, you may realize that you need to restructure contracts for instructors, the pricing you offer for your services, how you run your studio (or even owning a studio), etc.
If you’re not sure how to really evaluate your business for necessary changes, you can also reach out to me. I have an awesome team of experts — from operations to sales funnels to pricing — who would be thrilled to help you. Just shoot me an email at [email protected]!
I know that you’re ambitious, so I’m betting you have certain numeric goals you want to hit. But what about project goals, or things you want to add into your business? Maybe it’s a new website, maybe it’s a collaboration, or bringing someone new on to your team.
Or maybe it’s finding joy in your business again, or only adding new clients that make you feel good. Whatever it is, stick to your guns, dream big, and I know you’ll come out strong on the other end.
If 2021 is the year you book more clients, grow your studio, or generally build awareness from your services or location, you’ll want to start marketing your business properly. My Marketing Bundle was made specifically for female wellness & movement professionals like you, and offers specific actionable insight that you can implement in your business TODAY (or in the New Year).
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If you want to grow your social following or finally reach more of your ideal client in the New Year, this bundle is perfect for you!