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Key Points
- Businesses are not exempt from setting New Year’s resolutions.
- The business plan is not a wish list. Revisit your business plan every so often and be intentional in executing your business plan.
- Offer promos and introduce new products to clients to greet the new year.
Millions of Australians are keen on setting their New Year’s resolutions. According to a survey conducted by Finder, 73% percent or equivalent to 14.8 million people are mounting their goals for 2024.
Just as people are drawing up their personal goals, businesses are not exempt from having their respective targets for the new year. For home-based baker and entrepreneur Marishell Evangelista, her aim is to be intentional in the execution of her business plan all within a year.
The business plan is not a wish list
“It’s customary for business owners to set their goals and have a game plan.
“However, at some point (within the year,) they have a tendency to forget.
“Whatever the circumstances are, it would be beneficial to revisit their business plan and strive to implement it. Otherwise, the business plan will end up being a wish list,” Evangelista shares.
No price increases for January
On top of her business plan is holding off any price increases for her products for the new year. In fact, it has been a tradition for Evangelista to delay it until March, as it coincides with the founding anniversary of “The Weekend Ensaymada,” her four-year old business.
While January is considered a non-peak season as most of her customers are still on holiday, Evangelista rolls out various promos.
She offers some of her premium baked goodies at a discount. Doing so is enough to tide her over until the demand for her pastries stabilises. It’s also a way to thank her clientele for their patronage.
Evangelista says, “This is our way of showing our appreciation for our loyal and returning customers. Also, they can look forward to January where they can buy our products at an affordable price.”
Apart from that, Evangelista continues to streamline the processes and services for ordering her products online. This includes automated check-outs and payments, which goes hand in hand with efficiency.
A strategy to encourage efficiency is that staff are assigned to assorted selection or standard boxes.
Ways to drum up enthusiasm for the new and returning customers
Evangelista offers some ideas for other entrepreneurs who want to keep their patrons interested in their products for the new year. These are:
· Lay out promos that offer affordable pastry sets – considering the high cost of living, any discount will be appreciated by both new and loyal clientele.
· Use data-driven means to gauge the effectivity of promos – even the best performing products and the not so marketable ones can be monitored via data. It can guide the success of upcoming promos.
· Add new flavors to the current pastry menu – this gives a bit of variety and options from the usual specialty which is the ensaymada.
· Introduce new products that clients can easily avail – Evangelista has added brioche cinnamon scrolls, cakes in a tub and other Filipino breads, to name a few.
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