6 Goals Every Small Business Needs to Set for 2022

by Edgar R. Olivo

It is amazing how much can happen in one year, especially if you are a small-business owner in today’s world. Business strategies changed overnight for many during the pandemic, and now that we have more information about COVID-19, we know it will be around for some time. Uncertainties will continue, but we have to move ahead and plan for a solid new year. Having a business strategy that responds to current trends will be very useful in 2022.

Before you start planning, always start with your customers’ needs. This will help you address their needs and wants to help you solve them. As you develop innovative solutions for your customers, consider also developing a powerful vision that is realistic to the market conditions you are selling in. Keeping clear focus on your vision will help you stay on the path to achieving all your goals in the new year.

Annual goal setting is a popular practice within the most successful companies. A lot can happen in one year, so breaking down your goal into small goals set for regular intervals throughout the year is a better strategy to help you stay on track. The most common small business short-term goals are popular for a reason: They are suitable for practically every industry, business model and company culture.

Here are six goals every small-business owner should consider for a successful and resilient new year:

  1. Keep your expenses low and reduce your costs. This is a signature goal for any business. You should decide if reducing costs is actually feasible and where it would be possible to cut spending. Some options include paying off debt, using technology to streamline your processes, renegotiating contracts with vendors and cutting out unnecessary expenses.
  2. Find a way to be more productive. As the economy moves faster, small businesses are obligated to find ways to keep up. In addition to reducing your costs, improved productivity in your business can be as simple as using automated financial tasks, email autoresponders and calendar management tools. Reflect on what is taking time away from making money and you will find areas to improve your business.
  3. Market your business online as your primary strategy. Marketing will help new customers become aware of your business and increase loyalty from current customers. A great place to start is with your website. At a minimum, your site should be optimized for search, be user friendly, and contain all the necessary information about your business. Post regularly to your blog and social media pages to drive even more traffic to your website and keep your customers engaged.
  4. Take care of yourself and avoid burnout. Starting a business is fun, but it is also hard work. If keeping your business running is becoming more hard work and less fun, then you are on a path for burnout. Set breaks in your calendar to take time off and allow yourself time to reflect. Schedule time off from work for a few days to spend with your family or dedicate to your hobbies. You can always check in with your employees remotely a couple hours a day.
  5. Provide the best service in your industry. Today, customers have a lot of options to communicate with you, and excellent service is an expectation. Focusing on great service can help you grow your business organically for years to come. Some customer service strategies include responding to negative reviews with appropriate action, answering messages faster, providing self-service options and using a customer relationship management tool.
  6. Become a business that is more eco-friendly. This will be an ongoing topic for many businesses in 2022, and small businesses can play a big role in taking care of the environment. Taking steps toward a green business model will require some time and effort, but the benefits are big! It is fulfilling for you and your employees, and it is great for your brand image. Start small, like going paperless — this will also reduce your expenses and may even improve productivity.

Setting goals for your small business is important work. Like the popular phrase says, a ship without a rudder is like a business without goals. Every year, this assignment can help you create objectives that have meaning and lead you toward better outcomes.

EDGAR RAFAEL OLIVO is a bilingual business educator, economic advisor and contributor for several media outlets. He’s a nonprofit executive who is passionate about education. He is certified in finance and data analytics and holds a business degree from Arizona State University.

Para la versión en español de este artículo, haga clic aqui.

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