It's time for a year-end review 2021. I believe before you set your goals or your resolutions or whatever you choose to call them. Why do we need to evaluate first where have we come from? To take stock of both the blessings of the gaps of the good of the garish problems that we have.
So, one of the things that I do every year is set aside a day or however long I think it's going to take. I'll pull all of my quarterly Flamingo biz planners together and go back and look through each quarter. What were the wins? What were the things I wanted to get done and didn't? Why didn't I?
What is a year-end assessment?
First off ask yourself, where did their income come from? Where did the revenue come from? What product brought in the most revenue this year? Generally, what we find is when we have multiple products for sale, there is a certain 20% to 30% of them that are going to be bringing in the most revenue.
So what if you could, in the future, in the new year, take 100% of your marketing, 100% of your energies, and funnel them into that 20% or 30% that is making the most income already and increase that income.
So that's what we're trying to look for there so you may have to look back through some financial statements. You may need to go to your core software or your payment software and find out which of these products brought in the most revenue in the last year, because that's going to give you some solid numbers to be able to make some decisions on, in terms of your goals for the following year.
What Should I Write in My Year End Review 2021?
We want to do more of what works and less of what doesn't. So this is an evaluation time to say, what did we do? What worked the best? Let's do more of that. And you've probably heard, it said you should spend 80% of your time doing more of what works and 20% of your time iterating and experimenting with new ways to do things.
So, as you're looking into your new year and how we're going to continue to grow this base of our market what are we going to do? What's already working? How can we do more of that?
How do I write my year-end review?
Next in your year-end review 2021, you need to look at the money. Look at your gross and your net revenue. Find out what was the difference this year over last year. What was the increase? Hopefully, it was an increase, right? What was your net meaning after year expenses, what was the profit increase this year over last year?
The first two questions that we answered are going to give you a pretty clear picture of what you can do more of this year to be able to make even more in the coming year. We want to have a goal of making more, not because we're greedy, not because we're money hungry, but because the more money we make the more good we can do in the world.
The more money we make, the more tool we have to continue to grow the kingdom and do kingdom work. And so that's what we're trying to get at is what kind of goals do I need to set? What kind of activities do I need to focus on in the new year to be able to increase and grow this thing that God has put in my hands? Next, what were your biggest expenses? What were the things that took away the most from your profit margins in the last year? Piggybacking on that what could you do to cut some of those expenses in the new year?
How to Plan for the Year Ahead
Permit yourself to dream, permit yourself to take steps toward making that dream a reality in this new year, and use your business to do it. Use your business to help you, not only yourself, but your clients achieve their dreams. After going through a review consider what stood out to you. Is there something that you never thought about evaluating before or a new angle that you're going to take?
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