Reflecting on how 2023 went for your jewellery business
It's almost the end of the festive period and 2023 for that matter. Order deadlines are passing and you are finally seeing the calm beyond the storm. Or at least I hope you are!
So you know what that means don't you...
It's time to reflect & report on your business’s performance this year. Every month you should analyse some of your key metrics but no month is more important than December. Ask yourself, what worked, what didn't & what proof you have for this feeling. But also, and possibly more importantly, what you enjoyed doing & what you didn't.
In general, how do you feel the festive period went? How could it have been better, what do you need more help with next year?
Spending time on busy work can often come first for small business owners but I want you to try to carve out some time to pause and truly reflect on your experiences this year. Get out of your studio, away from your bench and the endless to-do lists and sticky notes, to clear your head. All you need is a pen, paper and the determination to go into the new year with inspired and focused.
Ask yourself:
What were the 3 biggest business highlights in 2024?
What were the 3 biggest challenges?
What is your favourite newly launched product from 2024 and why?
What product had the most sales or interest from customers?
What was your most profitable product? (Not just how much money they sold for but how much money you actually made by selling them, check your margins!)
What were the business activities that drained your energy most and why?
The business activities that gave you the most energy and why?
As well as answering these, make sure you’re analysing your sales and metrics to get the full picture of how 2023 was for your business. These honest answers and data will give you a good idea of what’s working in your business and where you’re struggling.
Whether this year was good, bad or ugly, if you want to go into 2024 with someone who understands by your side, offering insights and support to help you to grow you can always get in touch to discus the options for working with me.