Welcome 2024: Set Up Your New Year Business Goals With ODM!

As everything starts to get back on track, let’s share with you expert strategies on how to thrive this year, 2024!

New Year Business Goals

 

Setting Up Your New Year Business Goals

Setting goals is one way to set up your business in the right direction for the new year. Goals help you determine where your company is going, which is a significant step forward. If you want to go places, however, you must consider your entire business, not just some select parts.

As you think about your goals for this year and reflect on the successes of moving forward through a possibly unprecedented situation, we thought we’d help you set those goals by putting together a guide that offers some tips for getting started.

1. Revisit Your Company’s Vision, Mission, and Values

Successful companies are anchored with a strong purpose. They set a specific vision, mission and values that serve as their foundation to move forward.

Before you set your business goals for the new year, take time to look back at why you started, what you want to do, where you want your business to go and how you want people to see your brand. The answer to these questions will set your business apart from the others. Moreover, it will inspire your employees to work hard to achieve your goals.

 

2. Reflect and Evaluate

Take some time to reflect and evaluate what happened to your business in the past year. Did it perform well? Have you reached your business goals? Does your marketing budget suffice for your business?

In addition, you have to check your business promotional items and marketing strategies you have used before. Do you find it effective? Checking all these will guide you in identifying what areas of your business need to be improved or maintained.

The marketing budget is one of the most important aspects of running a business. It is important that you are able to accurately analyse the effectiveness of your marketing budget without wasting a lot of money in the process.

Here are ten tips to maximise your marketing budget for promotional merchandise for the upcoming new year:

 

3. Set ‘SMART’ Goals 

Setting goals and objectives is a crucial part of your business success. In planning, make sure that you follow the SMART model. Make sure your plan is Specific, Measurable, Achievable, Realistic, and Time-Bound. Knowing how to set your business goals using this framework can help you, no matter how big or small your business is.

Launching a marketing campaign can be a daunting part of achieving goals for most entrepreneurs and business owners. It is easy to get lost in the details of planning, but let us help you launch a successful campaign with this insightful blog:

 

4. Create Weekly Plans

It’s easy to set goals and forget them eventually. To avoid the ‘set and forget’ situation, make sure to create a weekly plan. Plot the things you can do every week to achieve the set goals for your business. In that way, you can better view what you’re working on and track your progress towards your goals.

Additionally, you can also plot your marketing promotion schedule ahead of time to keep track of all the important events and themes that might be helpful for your promotions. If done right, you can be sure to promote products that are relevant during the right time of year.

We know that it can be challenging to create content when you’re busy running the day-to-day operations of your business. However, you can better plan when your promotional strategies will take place by using a promotion calendar. Check out this blog we prepared for you:

 

5. Be Open-Minded

Smart and successful entrepreneurs welcome new ideas and diverse perspectives. Being open-minded allows them to see more opportunities and think of better ideas and solutions.

Aside from deciding by yourself, try to get your team involved with your business goal-setting and decision-making. Be open to suggestions. Instead of relying on your own knowledge, try to learn from others.

One of the best ways to get new and refreshing ideas is by arranging brainstorming sessions. Brainstorming is a way to generate lots of ideas and then narrow them down. Remember that it takes time to get things started and even more time to see any results from your efforts.

 

To ensure that your business is ahead of your competitors and keeps pace with the market’s changes and trends, bringing new products as well as improving existing ones is essential. You have to be open in welcoming new product ideas and improvements to garner the interest and appreciation of your target market.

Helping out the inventors among us, we have listed the key stages of the New Product Development process in this blog:

 

For our team, creation begins with a sketch. From the initial idea to the finished product, we work our way through a series of sketches that help us visualize and communicate our ideas. Learn more about how our sketching process goes by tapping the image below:

Concept Development Stage - Sketching the Sarobag

 

 

Let’s say that you already set your goals for the year 2022, but the question now is, how are you going to handle the problems you might encounter along the way? Some would say, “Cross that bridge when you get there”, but it’s better to be prepared than to feel sorry.

We have listed below the problems you will encounter, especially when doing business with manufacturers in China.

Chinese New Year is one of the biggest and most celebrated times. This public holiday is a big deal not only to mainland China but also in neighbouring countries. All factories are affected during this celebration. So if you are planning to source your promotional products, you better make the transaction ahead of time.

 

The power crisis is not a new problem faced by businesses in China. By 2021, power shortages are becoming more widespread and severe in some of the country’s leading manufacturing and export hubs.

If your business or your manufacturing company is located in areas where power shortage is critical, here are the things you can do to handle its possible impacts:

 

2024 is the Year of the Dragon!

2024 has finally come, and everyone is ready to face the new year! This year will be known as the Year of the Dragon, a symbol of authority, prosperity, and good fortune. Don’t miss out on this compilation of Year of the Dragon merchandise we prepared for you!

 

Final Thoughts,

In setting your business goals, take care to ensure that you are always considering what is best for your customers. That will allow you to build a solid foundation for the goals you set in the future, and it could help you achieve great things along the way.

 

The Role of ODM,

The ODM Group is not just any other product-sourcing company. We are a group of designers, product developers, and management specialists with one goal in mind: to help our clients achieve their goals.

Our diverse approach makes us a great partner for international brands who want a team to manage their projects closely. We specialise in customising promotional giveaways, producing top-rated POS display units, curating brand packaging design, manufacturing gifts with purchase merchandise and other promotional products.

With years of experience in the industry, we are highly skilled and capable of meeting your every need. Our team of experienced designers, Mindsparkz, is also here to help us in designing and turning your ideas into life.  We would love to hear from you!

 

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Our whole team wishes you a lot of joy and happiness during this holiday season. May the upcoming year will be full of new achievements that will bring you huge success.
Happy New Year from ODM! 

 

2024-01-03T19:43:42+08:00

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