December is a crazy time in the year, as is the rest of the months when you are business of fashion. Despite the pace, it’s imperative as an entrepreneur that you take a couple hours the beginning of the year to organize the year ahead. This will help grow your apparel company as well as help balance your life.
You only need a few to keep you busy all year & It’s uber important to track your progress. Also review past year goals. Have you reached them?
- Plan designs/bodies for at least two seasons ahead so you can focus on sales/marketing/business. This doesn’t have to be completely finished-at least a direction or outline.
- Review what sold and what didn’t sell with last year.
- What types of new marketing initiatives can you implement that can attract more clients?
- (Make a plan/ weekly to dos) Offline (tradeshows, contests) & Online (eg Monthly newsletters, social media, SEO) Be creative!
- Determine Yearly budget and plan accordingly.
- Review income and expense forecast and past year.
- What is the break even?
- Cash flow forecast
- Expense budget
Wishing you all the best in the New Year. If there is anything else that you do yearly that i’ve not posted-I’d love to hear what you do. Please leave a comment.