Setting Business Goals for the New Year

Posted on January 03 2022

Setting goals is something that comes around with each new year. We all are hopeful for a 'fresh start' and what is to come with that. 

I often try not to set too many goals as I can quickly list out unrealistic expectations that set myself up to fail. I also feel more motivated when I set goals during random times of the year that start on like a Wednesday. Who really knows why, but if I always have the "I'll start Monday" mindset, then I often end up putting things off. So I have more of a "start right now" mindset with my goals. Which also usually includes dropping everything I'm currently working on. So still maybe not the best process.

However, for 2022, there are a few bigger things I would like to focus on for my business and where I want it to be throughout the year. I'll to be focusing on three pillars when it comes to my goals for The Homebody Company. Here's how I thought through each one:

MONEY

While money is not everything, it is important when you are considering running a business. When deciding on money goals this year, I definitely wanted to make sure I was being realistic. There were some really exciting months of 2021 as far as revenue, but not all months are that way. Also, while I work on things here like a full time job, I don't rely on this for my full time income, so I have a little more flexibility when it comes to money goals. 

For my money goals, I thought more in terms of what I need to keep things running here and a little extra to at least pay myself for part of the time that I am spending on tasks (particularly admin tasks).

PRODUCT

With the new year (well really any new day for me) comes new ideas for products in the shop. Whether it be new quilt patterns, trying out a new t-shirt design or maybe a handmade product, the ideas are really endless. I like to list all I would love in a perfect world to get done and then break down the time it would take to accomplish these. Placing these into the months/weeks/days that I would need to execute them really brings to light what I can realistically accomplish. 

TIME

Now if only we could make a goal of having more than 24 hours in a day, but sadly that isn't possible. By time, I mean using it more efficiently. I like to think about how I can focus more to complete a task in a smaller amount of time. Truthfully, I can often get distracted by the many things I have going through my head to get done, but I'm hopeful that a bit of time blocking may help sort that out this year. 

Want to see my goals? Come join the Business Education for Quilters Facebook group! The group is made up of like minded individuals who are looking to grow their business (or just get started). I share tips and tricks I've learned myself both work experience in the marketing industry and personal experience from running a business! 

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