Start strong: Business planning for the new year

Ready for a successful 2025? Planning ahead and implementing a few best practices now can help ensure success in the coming months. Proactive business planning for the new year will help you better adapt to market changes, make the most of new opportunities, and remain competitive in a changing market.

Whatever the size of your business, there are best practices and tools that can help you get organized and plan for success in 2025. Here are six tips that can help your business thrive in the new year.

1. Review 2024 financials for a clear starting point

Before you can plan for the coming year, you need to fully understand where your business currently stands. An annual business review of your 2024 financials will give you a solid foundation to build on. Take a close look at your profit and loss statements, cash flow, and balance sheets. Identify patterns, high-performing areas, and challenges from the past year. By understanding your current position, you'll be better equipped to create a focused and realistic plan for 2025.

For example, if you notice that certain product lines consistently underperformed, it may be time to reevaluate inventory strategies. If a particular quarter drove the most revenue, you can use that insight to guide your focus moving forward. And if you notice a dip in average order volume, offering financing options to more customers could help increase sales and invoice amounts.

It doesn’t have to be complicated. Financial planning for businesses is all about using past data to shape more informed decisions for the future.

2. Set specific goals for 2025

Setting business goals is the natural next step in your planning process. Without clear goals, it’s easy to lose focus or waste energy chasing the wrong priorities. Goals don’t have to be overwhelming or complex. Start with three to five areas of your business you want to improve, and make sure your goals line up with your long-term vision.

For instance, your goals may be to increase revenue by 15%, cut operation costs by 10%, or boost customer loyalty through improved service. Use the SMART goal framework (Specific, Measurable, Achievable, Relevant, Time-Bound) to ensure each target is actionable. Breaking larger goals into smaller milestones can also make them more attainable and help you track progress throughout the year.

Encourage everyone at your business to participate in the goal-setting process so that every team member buys in to what you’re trying to accomplish. When everyone feels invested, it’s easier to pull together and maintain momentum as you work toward shared goals. Team members can also set individual SMART goals for sales, customer service, or whatever the businesses priorities and challenges are.

3. Identify opportunities to thrive in 2025

Once your goals are set, explore the opportunities available to your business in 2025. Look at retail-specific trends, seasonality in sales, and events or holidays relevant to your industry. Ask yourself questions such as:

• How can we expand into untapped markets or reach a broader audience?
• Are there new product lines or services we could introduce?
• What promotions or marketing campaigns performed well, and how can we repeat that success?

Develop a deep understanding of your target audience and their purchasing behaviors to create winning strategies. For example, are you clearly communicating that you offer financing options for all credit types? Step up promotion of Snap Finance offerings as an option to help more of your customers get what they need.

Market research can also help uncover emerging trends so you can stay ahead of the competition. Whether it’s new technology, changes in consumer preferences, or shifting economic conditions, keeping an eye on the bigger picture can help you identify game-changing opportunities.

4. Create a marketing calendar to stay proactive

Effective planning doesn’t stop with goals and opportunities – it extends to how you carry out your plans. That’s where marketing calendar planning comes in. A well-thought-out calendar maps out your promotional activities for the entire year, helping ensure you maximize your impact without last-minute stress.

Start by listing key dates, including holidays, special events, and industry-specific milestones. Then, assign marketing activities to each one. For instance, you might schedule a winter clearance sale in February or a customer-appreciation event that marks your company’s anniversary. Don’t forget digital marketing efforts, such as email campaigns or paid social ads.

When planning your calendar, think about the bigger picture. Consider how each campaign lines up with your brand strategy and yearly goals. This approach prevents your marketing efforts from becoming disjointed and gives customers a consistent experience with your business.

And remember, you don’t have to do everything yourself. There are plenty of tools that can help with marketing calendar planning. Platforms such as Trello or Asana can provide structure, while analytics software such as Google Analytics can help guide data-based decisions.

5. Use social media to strengthen your brand

A strong online presence is no longer an option for retailers and other customer-facing businesses. Social media strategy for businesses plays a crucial role in enhancing brand engagement, increasing customer loyalty, and reaching your target audience.

Start by identifying the platforms where your customers spend their time, whether it’s Instagram, Facebook, TikTok, or LinkedIn. Then, create and share content that reflects your brand values and speaks to your audience’s interests. Educational posts, behind-the-scenes moments, and customer success stories all perform well when done authentically.

Social media isn’t just about broadcasting – it’s about interaction. Respond to comments and messages quickly and use polls or Q&A sessions to directly engage with your audience. These interactions can make your customers feel heard and valued, which goes a long way in boosting customer loyalty.

Take advantage of Snap Finance’s ready-made social media graphics to generate buzz for your business. You can find them in your Merchant Portal under the Resources > Marketing tab.

To stay consistent, consider scheduling your posts. Tools like Buffer or Hootsuite allow you to plan your social media calendar in advance so you can maintain active on social media without constant attention and added workload.

And don’t underestimate the power of analytics. Monitoring metrics such as reach, engagement, and click-through rates helps you continuously refine your social media strategy to make sure it’s driving results for your business.

6. Get organized

While financial reviews, goal setting, and strategic marketing are all important, there are other practical steps you can take to stay organized in 2025. Here are a few bonus business organization tips:

• Optimize your tech stack: Review your tools and software to ensure everything is up-to-date and serving your needs. Consider switching to integrated platforms if your current systems don’t communicate effectively.
• Train your team: Invest in training for you and your team to better meet new challenges. Enhance skills with customer service training, technology workshops, or leadership development. Make sure everyone knows about all available financing options and are ready to discuss them with your customers.
• Establish clear workflows: Streamlined processes improve efficiency and minimize errors. Regularly review your operations to identify areas for improvement.

Sometimes, small changes can have an outsized impact on how your business operates, so don’t overlook seemingly simple initiatives.

That’s why a fresh, inviting space can make a big difference in attracting and retaining customers. Now is a great time to update your displays and organize customer-facing spaces to make your store feel vibrant and engaging. Consider rearranging inventory to highlight new or seasonal items and keep your store interesting for repeat visitors.

Reorganizing your storeroom and offices can also help you achieve your 2025 goals. A well-organized storeroom allows for more efficient inventory management, reduces clutter, and streamlines daily operations. This process can also uncover gaps in processes or systems, offering an opportunity to refine workflows and practices for the remainder of the year. And don’t forget about organizing your digital files and financial paperwork. You’ll be glad you’re organized when it’s time to file taxes or access important documents.

Taking the time to organize your business can help boost you and your team’s productivity in the months to come.

Take charge with proactive planning

Getting organized and planning ahead can feel like a big task, but the payoff is well worth the effort. Reviewing financials, setting clear goals, identifying key opportunities, mapping out marketing activities, and leveraging social media are all steps you can take now to help your business stay on track and excel in 2025.

Remember, the best plans mix strategy with flexibility. While it’s important to stick to your goals, being adaptable allows you to respond effectively to any unexpected shifts in the market. With the right mindset and practical tools, your business will be well-positioned to make the most of the new year.

About Snap Finance

Snap Finance harnesses the power of data to empower consumers of all credit types to get what they need. Launched in 2012, Snap’s technology brings together more than a decade of data, machine learning, and nontraditional risk variables to create a proprietary decisioning platform that looks at each customer through a more holistic, human lens. Snap’s flexible lease-to-own and loan solutions are changing the face and pace of consumer retail finance.

For more information, visit snapfinance.com.

Snap-branded product offering includes retail installment contracts and lease-to-own financing. Talk with your local Snap sales representative for more details on which product qualifies at your store location. For more detailed information, please visit snapfinance.com/legal/financing-options.