2023 was a roller coaster for many businesses. Inflation, supply chain disruptions, changing customer demands, political tensions, and overall economic uncertainty has left a lingering concern about stability in the future. With this future just around the corner (hello, 2024!), we anticipate slower growth than usual, high interest rates, lower customer spending, and see the likelihood of a possible recession. In short: 2024 may be a challenging year in which to set plans.
It's time to take a deeper look at your goal setting for the year, and implement it in a way that ensures your plan is manageable and effective. We have 4 tips for you, to get started!
Think Smaller
If there were ever a year to be very thorough and intentional about decision-making and planning, that year is 2024. This may not be the year for large, future-thinking goals, but instead a time for focusing on small-scale efforts. Table risks that you may have taken other years, in favor of those that are solidly attainable and don't involve a huge time or effort investment. Simply put: only efforts that you can afford to fail at should make the list this year.
In 2024, success will be encouraged not only by an attitude of acceptance and adaptability but also the ability to consistently evaluate progress and measure results. When setting goals and planning, establish specific performance indicators for yourself alongside each specific step, to provide easy opportunity for a change-up if needed. Document small and specific goals, and manage progress in a way that is validated at each part of the process.
Talk, Talk, Talk
Open lines of communication are critical, especially in a period of slow growth. Without as much opportunity to grow branches, focus on the roots of your organization and maintain consistent, regular meetings and check-ins with your team, using this time to evaluate their progress and schedule check-in points further down the line. To keep the forward momentum going, align employee strengths with their assigned tasks, and leave each meeting with goals set for that person. If possible, we'd suggest more 1-on-1 meetings in 2024. They're an excellent method for establishing trust and discovering what drives your team's performance, as well as good opportunities for open and honest feedback.
Meet Efficiently
Time will be of the utmost importance this year, so conduct your meetings with efficiency in order to value your team's time and keep things running smoothly. Before calling for one, ask yourself if a gathering is really the best format, or if the content is better distributed via email or other format. Nothing can hinder a job performance more than a poorly timed or unnecessary meeting. The easiest step to change it up this year: send an agenda beforehand, providing a clear framework and a subtle suggestion to prepare for the discussion.
Be Nimble
Don't get comfortable post-planning, feeling like the work has been done. Hit established milestones to measure success throughout projects and if those milestones aren't met, don't expect more time to make much difference. Use these moments to pivot, resetting milestones and readjusting expectations, even delegating differently if necessary. It can feel like a lot to be managing everything during a year that feels uncertain, but don't indulge in the overwhelm. Indecision and ambivalence might be tolerated in another year, but not 2024!
In a few days, the page flips, and we face a new calendar year full of potential. Remaining agile, effectively communicating, and scaling back on overly ambitious endeavors is the way to go. We hope these tips have helped, and wish you a prosperous New Year!