5 Questions to Answer in Your Business Before 2019

Whether you’re a believer in some type of new year resolutions, or have completely sworn them off after years of dismal failures, there are some things that you need to do once a year in your business to make sure you’re on the right track.

And since the beginning of a new year is a natural reset point, you might as well tackle them now so 2019 really can be “your year.”

We’re going to be answering five questions that will reveal any changes you need to make in your business, and ways that will help your business grow bigger without requiring more work on your end. 

The goal in fact is to work less!

You’ll need at least an hour to effectively think this through in your mind and get it all on paper. But read the questions now so your subconscious can get to work on them, and then set aside an hour or two this week with a pencil and paper and take your first step to a successful 2019.

By the way, if don’t have a business yet but want one in 2019, still answer these questions and you’ll be ahead of most beginning entrepreneurs. 

1. Who’s Your Ideal Client?

Before you roll your eyes and think, “I’ve done this already, I know my audience,” give it a chance.

Fact is, you can never know your audience too well. 

Your business should be evolving, which means your ideal client may have changed in some small but important ways.

Your audience is evolving too. Maybe you’re still reaching women between the ages of 25 and 40, but maybe their needs that you service have changed in some small — or big — ways.

Whether you find drastic changes or little tweaks, nailing who your ideal client is is one of the cornerstones to a successful business.

Getting this one just right is also essential to your productivity because it allows you to focus your marketing and not waste time with the wrong people.

Exactly how to do this is a topic for another day, but Google is your friend here. You’ll get all kinds of solid advice by just searching for “how to define your ideal client,” or “creating the perfect customer avatar,” or something along those lines.

Your ideal client probably isn’t just Jane who’s 26 years old with two young kids and a corporate job. 

So while it’s helpful to actually create and name a specific person who’s a specific age and comes with other very specific demographics, don’t hesitate to create 2 or 3 people who fit the mold as your “ideal client.”

In a nutshell, define their age, gender, relationship status, whether they have kids, employment, hobbies, what keeps them up at night with worry, what their fears are, and what the biggest problem you can solve for them is.

The more experience you have in your business, the more you’ll be able to refine what’s most important in your ideal client.

2. How Will You Reach Your Target Income?

If you don’t know your target income, this exercise will take a little longer. 

But it’s much better to actually figure out how much money it will take to cover all your needs and wants, than it is to toss out the standard “$10,000 a month,” or “I want a six-figure business” we so often hear in the online business world.

Once you know your target income, figure out what you’ll provide in exchange for that income. 

If you need $6,000 a month and you’re an event planner who’s top package is $2,000, you’ll need to sell three of those a month.

Maybe your $500 package is more popular, so realistically you want to aim for one $2,000 package a month and eight of your $500 packages.

Do the math so you’ll know whether you’re on target rather than looking back at the end of the month, quarter, or year, and saying, “I failed.” 

This exercise will allow you to make weekly and daily adjustments so you’re much more likely to reach your financial goals.

3. What Else Can You Bring to Your Current Customers?

You may have heard that it’s easier to sell to an existing customer than to acquire a new customer, and it’s very true.

Most people completely overlook this aspect of their business, and leave a lot of money on the table as a result. 

Now’s the time to think about how you can better serve your existing customers. 

Can you create another product or service that will help them take the next step beyond what you’ve already done for them?

Or can you help them in a related area?

If you have a Kids Party Characters business, you may mistakenly believe you only have one chance per year to help your clients, or slightly more if they have more than one child.

But what else does a mom with young kids need? The possibilities here are endless.

We find our clients are very focused on raising happy and healthy kids, which opens up a virtually endless list of other products and services you could market to them.

And no, it doesn’t have to be something you create. Instead, you simply become an affiliate for already existing products and earn a commission whenever you sell someone else’s product you’re promoting.

4. What One Thing Can Someone Else Do Better?

Until you are at the point in your business when you’re doing nothing but the things you love, the things that directly make you money, the things only you can do, you need to be looking at what’s the next thing you can outsource.

And yes this applies even if you’re just starting your business.

What’s the first thing you can pay someone else to do so you can use your time actually bringing in more money?

The faster you outsource things others can do better and/or cheaper, the faster your net income will rise.

This doesn’t mean committing to hiring a 40 hour a week employee. 

It can mean something as small as paying someone $25 to design and set up a landing page so you can start building an email list.

Start where you can and you’ll be surprised how quickly you’re at a point where you’re paying others more than you thought your own annual income would be. 

5. What One Thing Can You Do Better?

One of the traps many of us get stuck in, especially at the new year, is getting all motivated and planning a hundred ways we’re going to work to make our business more successful.

Starting tomorrow we’re going to post twice a day on Twitter, Facebook, Instagram, Pinterest, LinkedIn, and even on our Snapchat story. We’ll even commit to posting a weekly video.

If you’re struggling to crank out one Facebook post a day right now, that’s just not a realistic plan.

Nor is it a necessary one.

Pick one thing.

Whether it’s focusing on growing an audience on one social media channel, on building your email list, or on creating more offers to promote, pick one thing and focus your entire business around doing that one thing better.

Then you can move on to the next.

If you’re just starting your business, do the same. Pick one thing to focus on getting your business in profits.

Trying to do a little bit of everything is why most people fail.

And if you need help knowing what your next step should be, whether you’re new or just not where you want to be as an entrepreneur, Kids Party Characters owner Cheryl Jacobs can help.

Cheryl started out as a single mom looking for a way to feed her kids and has now had a hand in starting 10 different businesses. She has a passion for helping other moms find the success she’s had, without have to endure the steep learning curve she went through.

Cheryl’s created a unique membership opportunity with Kids Party Characters that allows you to have your very own business with an exclusive territory in which to book parties, access to all the tools Cheryl’s used to grow Kids Party Characters to a six-figure business, and step-by-step training from Cheryl on how to best get started in your business.

Schedule a free, no-pressure chat with Cheryl right here to learn more and get all your questions answered.

Want to learn more about Kids Party Characters? Join us on Facebook for daily updates on the magic we bring to children’s parties, as well as our best strategies for working at home while raising happy and healthy kids.