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Episode Summary:
We can’t predict if we will have any more bumps in the road in 2021. 2020 has been a big mountain and detour for all of us, but at least we know where we’re headed.
Everybody has been asking, how do we plan out 2021? Throughout 2020, many independent retailers are thriving. And that’s fantastic. We all want to succeed. But before making plans for the future, we must look back at how our current year was. Previously, we discussed five prompts for year planning in Part 1 of my “Plan Your Best Year Ever” series – Episode 40 of The Creative Shop Talk Podcast last week.
In this week’s episode, Part 2 of my “Plan Your Best Retail Year Ever” series, we are going to talk about looking forward. To do so, I share three prompts that will help you plan for 2021. What do you want the new year to look like? We talk about revenue and the importance of understanding how to read our financials. I also describe the process of breaking even. Inside my Retail Made Simple course that starts in January 2021, you could learn more about finances as we talk about the topic in depth.
I want you to make enough money into this retail business. Let’s start planning. Let’s make life possible. You can join my retailer’s Inner Circle for networking with other like-minded retailers.
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Plan your best retail year ever by following one of our most popular series:
Click here for Part 1 – Why looking back is key and what to look for
Click here for Part 2 – Look forward to plan – revenue and finances
Click here for Part 3 – What do we need to do to get where we want to go
Click here for Part 4 – How to put all the pieces together and reach your goals
This week on the Creative Shop Talk Podcast:
- Planning for 2021
- 3 prompts for planning 2021
- Where do we want to go
- What would make us feel good
- Knowing your numbers
- What revenue do you need to get to where you want
- What do you want to be known for in your community
- Creating a marketing plan to feed in revenue
The Big Takeaway:
Without knowing where we want to go and how do we want to get there, we might not make it. If we don’t make a month-to-month plan as we move forward, we’re not going to know if we’re doing well or not.
Our Favorite Quotes:
- “Is more important now than ever to have a clear path to where we’re going.” – Wendy Batten
- “Everybody’s idea of a successful year is completely different.” – Wendy Batten
- “To run a business, the number one thing we need to do is know the math.” – Wendy Batten
Our sponsor:
Online Course: Retail Made Simple
It’s a four-week course that I run every January for retailers to help them uncomplicate all the business stuff.
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