Be prepared – 5 crucial business tasks we undertake at the beginning of the New Year
As the owner of a small business, the beginning of the year is always very busy. It’s not only that we need to check last year’s figures and results, but also there are several tasks we have to complete together with the project team in order to set the foundation for continued growth for the year ahead.
Here are some of the crucial tasks that need to be undertaken at Eurideas every January.
We check what’s trending
We sit down with the business development team and analyse last years’ assignments and try to make conclusions on possible trends. If we find something interesting or new, we carry out further research into it, and focus more on that field in the coming year.
We define company goals for the New Year
We define what we consider to be success this year and what key performance indicators the team must accomplish to achieve our goals. We also decide who is responsible for what and by when certain jobs need to be done.
We plan the annual budget
It’s mainly my task to forecast the revenue we should achieve in the New Year. I also draw up the operational budget, meaning how much we should spend on human resources, IT, marketing, etc.
We look for ways to optimise operations
As we’re growing every year, our operations and processes need to be adjusted continuously. The start of the year is a great time to sit down with the team and examine the processes with a fresh eye and optimise them if needed.
Establish infrastructure for growth
Based on previous experience, our scarcest resource is time. This year we will allocate more resources and focus on growth, besides delivering value. The infrastructure for this needs to be set up now.
If you have a similar to do list at the beginning of each year, and you have realised that one of your objectives is to enter new markets this year, you might also need translation services.
Instead of assigning the job to several freelance translators, you might consider optimising the work and select an experienced language services provider.
If you would like to save costs as well, I would say that it’s a must to work with one translation partner in the long term.
In 2022 we welcome new clients with a special offer, and we build a translation memory with all our partners in order to optimise costs and to ensure quality.
Written by Kristina Bitvai-Aeberhard, Managing Director of Eurideas Language Experts