How did your business do this year? I hope it was a good one, as it was for quite a number of designers. If not, well, there’s always next year. In fact, there is only next year. Regardless of whether things went well or not so well, it’s time to put this year behind you and focus on the year to come.
Do take time to examine your business’s performance and assess what worked best and in particular which were your strongest sources of revenue. Unless those were due to some temporary change in your market, you’ll want to keep doing more of them in the coming year. Also make a list of the things that didn’t work, did not provide a worthwhile return on the time or resources you invested in them, or just proved to be a waste of time. Don’t fret about them; just stop doing them now. Trial and error is all part of running a business.
Now that you have your list of dos and don’ts, close the book on this year and don’t look back. Start exploring what are the opportunities that lie ahead for the coming year. Conditions look very favorable for designers. The economy is growing. The stock market continues to break new records. Tax reform will probably leave prospective clients with more disposable income. Home values will keep going up in most parts of the country. How might these trends affect your business?
The interior design industry is changing. The interior design client is changing. As you prepare your business and marketing plans for next year, bear in mind how things may be different and modify your strategy accordingly. Build on your success and embrace change. That’s a winning combination for future growth.