What are you going to do next year that is different from the past?

It is hard to believe we are rapidly approaching the end of another year. Reflecting and looking forward, it certainly appears that the more things change, the more they stay the same. The many challenges remain the same, namely adding critical technology, increasing sales, recruiting and adding and developing much-needed staff to both grow and replace those approaching retirement. And yes, doing all profitably. So what will you do this year that is different – and more importantly – better than you did last year or in past years? How will you commit your time, talent and treasure to outperform the industry or accomplish your goals? The time is now to figure out what you want to accomplish and how you will do it. If you want or need to make the new year an extraordinarily great one, here are a few suggestions for where to start.

Planning. It sounds trite, looks easy and at times feels like a waste, but it has been proven over and over that success begins by planning and continues through continuous work on the plan. In its most basic form, planning is simply thinking through what you want to – and with the available resources, can – do. As with any “to-do” list, it is essential to make sure that you are reaching for an attainable goal, that you have an idea of the cost in both dollars and man-hours, and you know how you will measure success or failure.

Sit down with your staff and advisors – the sooner, the better – and talk through what you want to accomplish this coming year and what resources you will need to get it done. Write down in the simplest terms what you want to get done and how you will measure success. Most of all, keep it simple. If you plan to increase sales by 10%, don’t spend 50 pages saying it – just write down “Objective 1 is to increase sales by 10%.”

Even a one-man operation needs to plan the allocation of resources – most importantly time – on what is important. This means that if your “Objective 1” is to increase sales by 10%, then you need to elaborate on how you will make it happen. Again, when you commit the plan to paper, keep it simple – just tell it like it is. Equally, if you want to achieve Objective 1, then simply say that, for example, you will “increase sales 10% by adding a salesperson/representative for a new geographic territory/market . . .” or whatever action will most effectively accomplish the goal.

Planning is not about producing a slick document; rather, it is going through the process of thinking through what is really important, committing to that goal, and allocating the resources needed to make it happen. And, finally, for those who do not believe planning is that important and instead look at certain companies or individuals as just having luck, all I can say is that more often than not, “luck is good planning carefully executed.”

Networking. It is easy to get stuck behind a desk or in a rut and see the same people over and over. Networking is committing to improvement by meeting new people. Networking is committing to share with others. Networking is about finding the next good idea, outstanding employee or cutting-edge technology. And most importantly, networking is about being positive and not looking for excuses!

Over the past few Covid-influenced years, networking has gone through a massive transition. Often, opportunities to network now are via online meetings using Teams, Zoom, etc. The good news is that users can now access outstanding content from subject matter experts across the globe via this online technology. Online opportunities should be added to the mix of how and with whom you and your team network.

Equally, a number of traditional “in-person” venues are available for networking. Local organizations such as the Chamber of Commerce or regional manufacturing or technology development hubs are great for discussing generic cost reductions such as health care and business insurance or taxes. Local networking can also be a great source for locating talented employees. Regionally, some organizations focus on everything from family business issues to technology development to workforce training and development. No matter where you are, there are local and regional organizations that can offer a wealth of information and ideas to improve your business.

Industry-specific networking is another way to grow. Local chapters of PCEA, the publisher of this journal, and the SMTA, to name just two, attract local attendees specifically from our industry. Attending regional and national industry-focused trade shows is possibly the best venue for meeting and networking with the entire supply chain within our industry.

Communication. No matter how well you think you communicate, it is never good enough! Once you have prepared a plan – formal or not – and whenever you step out of your comfort zone to network with new people, communication is essential. The most important people to communicate with are your employees and advisors, but what you communicate to each may not be the same message or presented in the same way. Equally, communication is not a one-time affair. It needs to be consistent and supported in word and deed. You need to walk the walk, not just talk the talk, to effectively communicate.

Action. One of the best I ever worked for would send handwritten notes or clip articles that were of interest or relayed/confirmed a message. One I remember well was an article that said it does not matter how much you know if you do not take that knowledge, communicate it and take action with or because of it. His message was clear, especially as he had a bias toward action. Taking action, however, requires a plan – one that is based on knowing what is going on within the industry and includes what will be done by whom, how and with what resources. The plan must be communicated to those who might need to approve it, such as investors, banks, advisory or corporate boards, etc. Most of all, the plan must also be communicated to those who will implement it – your employees.

What are you going to do next year that is different from the past? The time is now to plan, network, communicate and take action to achieve your goals in 2025 and beyond.

Peter Bigelow is president of FTG Circuits Haverhill; (imipcb.com); pbigelow@imipcb.com. His column appears monthly.