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How to Make 2009 Your Best Year Ever

Written by: Liz Walker

Article Overview: A new year, a fresh start. For some businesses they will make the leap into a new year with planning and insight. For others the new year brings stress and the unknown. How do you make the New Year a fresh start for your business. Find out in this article.

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How to Make 2009 Your Best Year Ever

In my experience, now is the perfect time to be thinking about how to improve and grow your business in 2009. It’s time to review your progress during the last 12 months and begin to think strategically about the year ahead.

Did 2008 bring you the success and growth you desired? If not, why?
Many times entrepreneurs spend their every waking moment running the day-to-day operations of their business. Very little time, if any, is designated for thinking and planning.

And yet, 80% of businesses that have a business and marketing plan, and use it, will reach their goals.

Wouldn’t you like to be one of those companies?

In order to ”get there” you first must take the time to figure out where you want your business to be in the next 12 months. Do you have certain revenue goals? Staffing goals? Vacation or number of days you want to be able to take? How much money does your business have to generate in order for your to take out the ”salary’” you desire? How many people do you have to employ, and what skill sets do they need to have in order for you to take time away from the business?

By spending the time now, before the New Year, business owners can ensure that come January 1st, their road ahead is clearly in sight.

Entrepreneurs should also begin strategically thinking about the long-term. These days, that can mean three to five years, but for those business owners who are thinking about retirement, planning now for retirement is essential.

In the world of entrepreneurship ”retirement” is probably the wrong word. In fact, I know of few entrepreneurs that ever retire, but in any case, what do you want to do with your business when you want to go off and do other things?

Whether you’re planning on selling your business, handing it down to Junior, or simply closing its doors, pre-planning is essential for a smooth and effective transition.

By developing and implementing a strategic marketing system and staffing it appropriately, you can cover the bases.

Following are our four favourite reasons to develop a system for your marketing:

1. You get really clear on who you are and why certain prospects should do business with you.

2. You identify areas and markets where the greatest opportunities exist, and develop strategies for capitalizing on them.

3. Your entire team will get a clear shot of the big picture and how it positively impacts them.

4. Your business will show higher profits.

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Home > Marketing > Liz Walker > How to Make 2009 Your Best Year Ever
Article Tags: 12 months, business owners, doors, how much money, january 1st, little time, marketing plan, marketing system, new year, perfect time, retirement, revenue goals, salary, selling your business, strategic marketing, transition
Referred by: http://www.makingprofitspour.com

About the Author: Liz Walker
RSS for Liz's articles - Visit Liz's website

Ken Burgin and Liz Walker, Authorized Duct Tape Marketing Coach and Certified Marketing Automation Coach, are the Marketing Masters. They have written for small business for over 20 years and are the authors of This Man Wants to Wreck Your Kitchen and other business building tips from the Marketing Masters.  The Buzz is a monthly ezine for small business owners who want simple, effective, and fun strategies to get more business, guaranteed. Sign up for free tips at www.marketingmasters.ca and download practical, free reports too.


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Re: Moderators on vacation Re: Moderators on vacation - I will be on vacation from Dec 23, 2008 - Jan 5, 2009 - See y'all in the New Year! Happy 2009 to All!!!
How to valuate a business How to valuate a business - Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out: How Northern Crown Capital Valuates a Business 2008 Financial Projections Earnings Before Tax $5,865,000 Tax Rate 42% Taxes $2,463,300 Net Earnings $3,401,700 Amount Seeking to Raise Today $3,500,000 Discounted Value of Future Opportunity, 5 Years Out 2008 P/E Ratio 15 Value of Company in 2008 $51,025,500 Discount Rate Applied 30% Year 2008 $51,025,500 Year 2007 $35,717,850 Year 2006 $25,002,495 Year 2005 $17,501,747 Year 2004 $12,251,223 Value of Company at Investment in 2003 $12,251,223 Less: Investment Amount $3,500,000 Present Value $8,751,223 Discount for Risk & Private Company 40% Less: Discount for Risk & Private Company $3,500,489 Private Company Value $5,250,734 Present Value (What the Owner Keeps) $5,250,734 60.00% Financing (What the Investor Gets) $3,500,000 40.00% Total $8,750,734 100.00% I hope this helps!
Re: New  Year - New Resolutions? Re: New Year - New Resolutions? - I'm still working out my professional goals for 2009... But my personal goals in the New Year include: -learning to play the guitar (starting in March. I've already found a private instructor) -master the use of a BBQ grill (in the summer) -try a new dinner or dessert recipe each week -lift slightly heavier weights to add a little more muscle mass to partner better in salsa (I'll need it for dips in level 4+ ?) -and set aside at least $1100 for my annual trip to NY in late August
Re: Quote of the Day - "The only people witho Re: Quote of the Day - "The only people witho - Thanks for sharing this Evan, there are some very powerful quotes in there, I particularly like this one:- You are now at a crossroads. This is your opportunity to make the most important decision you will ever make. Forget your past. Who are you now? Who have you decided you really are now? Don't think about who you have been. Who are you now? Who have you decided to become? Make this decision consciously. Make it carefully. Make it powerfully. regards, Mal.
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