2024 preparation for pet businesses: start your year with the right paw!
During the holiday season, everyone is either slowing down and taking a much-needed break or trying to close orders/appointments in a frenzy.
Whichever the case might be, before the blink of an eye, we will celebrate the new year and feel pressured to turn 2024 into the best year ever, starting right away in January.
January is a trickster month. It either passes by quickly or feels like an entire year. So avoid the rollercoaster of emotions and take the last few days of the year to reflect and plan ahead, ensuring you enter 2024 on the right paw.
Let’s dive into 11 strategies to help you transform your pet business in the next 12 months and reach your selling goals.
Start by setting your business goals.
First, define where you are headed in 2024 and how to get there. The key to actually succeeding is being as specific as possible. Let’s imagine you’re aiming to hire someone next year. When do you want to do it? How will that person help your business? What characteristics are you looking for? Breaking down all details and goals will help you outline actions to achieve those milestones, and, at the same time, it would feel less daunting.
Review your financial performance and find a way to track it in the future.
Once you have your quantitative metrics in mind, it will be easier to look at your finances and pinpoint areas that can be improved. Ideally, you want to reduce costs and increase revenue to achieve profit sustainably and continuously. Consider implementing a tool that allows you to be organized throughout the year and adjust whenever necessary. It can be as simple as a spreadsheet, as long as you keep it up to date and know how to navigate it.
Scan your prices and payment terms.
Directly related to the previous point are your prices and payment policies. When was the last time you did a checkup? Are you keeping up with inflation? Do you have any price strategy that allows you to be profitable and attract more customers? What areas need improvement? If you’ve been putting it off, now is the time to do it.
Do your early market research.
Though you don’t have a crystal ball to see into the future, there are predictable tools that can get you a glimpse into what might be. Not every trend and preference will match your business, but some are worth investing in and jumping into to stay ahead.
Consider diversifying your revenue income.
Regardless of having a service or product-based pet business, there are new ways to increase your revenue. Have you considered partnering up with complementary businesses? What about new products or services? Where could you expand to meet your customer expectations with a single or short amount of investment? Inquire your clients with surveys and test new revenue opportunities.
Establish networks and partnerships.
Strong and meaningful relationships will improve your business in more ways than one.
Customers, suppliers, team members, and stakeholders. Everyone plays a part in your company’s success and should be heard equally.
Surround yourself with other pet business owners by attending industry events and online communities. Create opportunities to meet stakeholders, team members, and customers periodically so you can have their input frequently.
By keeping your partnership and relationships close, you’ll ensure that you stay top of mind and that your chances of bigger and better deals occur more frequently.
Reinforce your reputation with online reviews and testimonials.
People trust people more than they trust businesses. Kindly ask your biggest fans to write an online review or testimonial to build your business’s reputation and increase your chances for new and recurring sales.
Put yourself in the consumers’ shoes: do you buy from a company with positive reviews or one with no feedback?
Take advantage of user-generated content.
Another way to boost your credibility and reputation is by showcasing your customers’ content of your products or services. Consider encouraging them with a reward or referral system that benefits both and even putting together case studies for your website.
Improve your online presence.
Nowadays, it’s imperative to have an online presence that is as good as your physical store, if not better.
User-friendly, responsive, engaging, and fast-loading websites are no longer reserved for digital agencies but for everyone who wants to attract current hyper-digital consumers.
Revise your SEO practices, update your content, and eliminate unnecessary steps to ensure your customers’ journey is smooth and intuitive.
Invest in yourself and your team.
Your business can only be in top form if you and your team members/employees are. Your company’s human resources are also an investment to ensure motivation and that your business keeps thriving. Investing in business courses, events, and tools will make a difference, even if you’re a solopreneur.
Examine and edit your business plan.
This is the last step to officially write down everything you’ve considered for the year ahead. It’s not mandatory, but keeps everything organized in a single document. It will also serve as a guide and plan to keep your mind focused on the bigger picture.
Conclusion
Entering a new year can feel daunting, especially for business owners. By reviewing and planning what’s to come, you will feel a sense of direction, purpose, and ease in 2024 with a clear head and the right motivation to have a great year!
