With a new year comes reflection. A new year makes way for both looking at the past year and seeing where we have been while also looking ahead to the new year and where we would like to be.
The new year brings in so much, possibility, inspiration, potential, change, and so much more. At this time of year, many people try their hand at New Year’s resolutions. Yet, according to research, most people give up their resolutions by January 19th.
Resolutions tend to be too unyielding. And as good businesspeople now realize that, to succeed you need to be flexible, can pivot, and incorporate effective ideas. Creating a successful business is not easy at any time, and the pandemic has rewritten the rulebook for doing business effectively.
Here are 10 ideas that can help you make 2022 a success:
The beginning of the year is a great time to put organization into action. Being organized helps you be more efficient and reduces stress. From cleaning out your inbox to embracing the right technology can lead to revolutionizing the way you manage your business process.
The availability of a brand licensing management software enables you to organize your contracts, agreements, renewals, and amendments in one place. Staying more organized provides the gift of more free time. And who could not use more time!
Take an Honest Assessment
With the beginning of a new year, it is a great time to assess what has been working and what has not. Reflect on what you accomplished in 2021 when planning for 2022.
Where was success found? What areas need more attention? What opportunities or trends were missed? By taking an honest assessment of where you are you will have a better idea of where you need to go. If a strategy has been proven to work, think of ways to implement it into your plans for 2022.
With this knowledge, you can create a plan that incorporates the effective tools that previously worked while adding new plans and/or resources to address the areas that need attention.
Improve Your Skills
As Dr. Seuss famously said, “The more you read, the more things you will know. The more you learn, the more places you’ll go.”
Just because school ended, you never stop learning. And learning unlocks so many new avenues to pursue. Renew or refresh your skills by taking courses, reading white papers, reviewing articles, or finding a mentor.
Focus on collaboration. Success is achievable when others are there to help. Explore what collaborations during the year can help you achieve your goals.
Perhaps It is being a mentee where you need support to stay on track and achieve your true potential. Maybe it is becoming a mentor to help others recognize their strengths and put together a strategic plan for the year ahead.
For most brands and licensees, it is finding the right partner company to collaborate on a new product or working with another brand licensing company for branding and cross-promotion causes.
When we work together, anything is possible.
Get to Know Your Industry Better
When it comes to licensing, branding, and intellectual properties there is always so much to learn. Changes happen every day; from what is the next big, licensed product a brand is releasing to the latest trends and inventions that propel the industry forward.
By getting to know your industry better, you will be on top of all the key information you need to succeed. There are numerous ways to stay on top of industry insights; attending trade shows e.g. CES, Sports Licensing and Tailgate Show, Toy Fair, MAGIC, Licensing Expo, Brand Licensing Europe; subscribing to trade publications e.g. License Global, Total Licensing, listening to top industry podcasts can help you stay current.
Time is one of our most valuable resources and who does not want to save time? Think about where processes can be automated to make your life easier. Whether you are a licensee, licensor, or agent, there are always systems that can be put into place that help save time and make you more productive.
For example, a seamless product approval software can keep licensors, licensees, and agents all on the same page knowing exactly where a product submission is during the development stages. With real-time notifications on who is making what changes, there are no second-guessing or mixed signals. Effective communication and delivery of good quality information remain key factors in saving time.
Dive Into Data
We live in a data-driven world and it is important to take a deep dive into data! With so much data it is critical to turn data into valuable information which will help a business drive revenue and earn long-term growth.
It’s important to focus on the information that pertains to the specific goal you are looking to achieve.
The information can be proven helpful to assess your strengths and weaknesses and then target specific segments to build on your opportunities or correct courses where necessary.
Social Media Resources
Social media is a great resource for finding inspiration and ideas. By following industry professionals, organizations, and companies that engage in licensing intellectual property, you will find a lot of tools and ideas that can help you grow.
Whether it is LinkedIn, Twitter, Facebook, Instagram, TikTok, or another platform, take the time to follow and engage with the people and companies that can provide insight and influence for your business.
With work, meetings, family, and other commitments, self-care may not be on top of mind. It is important to take a few minutes each day to focus and reflect on yourself.
Re-energize yourself by taking a walk, listening to music, meditating, eating lunch away from your desk. Taking a few minutes off each day helps you do your best for yourself and others.
We know what we know but it is important to know what we do not know. This is when other people can help fill in the gaps. Have a check-in with employees, supervisors, clients, agents, vendors, every so often to find out what is working and what is not.
It can be done during a one-on-one session, or an anonymous feedback form can be used. Find out your areas of improvement internally and externally.
What resources do you consider adding? What is one thing your partners would love to see happen in the new year?
With insightful feedback, you can improve your, your employees’, and partners’ performance, which in turn increases business growth.
By incorporating some of these ideas into practice, 2022 will have the potential to be even brighter.