Let’s kick this article off by stating the obvious: No single person on this planet can predict what will happen in business in 2023. Not me. You. Or any talking head on television.

However, that doesn’t mean that we shouldn’t be planning. As my friend Mark Coudray commonly states, only three things can happen, and only two are bad:

1. Things will get better.
2. Things will stay the same.
3. Things will get worse.

Let’s use those three ideas as tenets to think through a strategic plan for 2023. Following, I provide five tips to help in your business planning.

Tip No. 1 – The Evolving Business World

The only thing that has stayed the same is that everything is constantly changing. Post-COVID, customers’ buying behavior will not morph back to how things were before. That genie isn’t going back into the bottle.

With our three-idea mantra in mind (things will get better, stay the same, or get worse), take stock of your business and consider these points:

• How will customer demand for your product or services change with the inflation rate? What preparations should you take ahead of time to minimize the damage or take advantage of the situation?
• For your supply chain, how will rising prices affect your business? Will you pass that on to your customers? How do you know what percentage to increase your pricing to keep your profit levels the same?
• How can you help your top 20% of customers weather the economic conditions for 2023? What will they struggle with, and how can you best assist them?
• Internally, what staffing changes will you need to make to ensure your business remains effective and profitable? How could technology or automation assist you in reducing your payroll costs but keeping your output steady?
• How much money do you currently owe? Now is the time to get your debt under control and your balances paid off.

Small businesses like yours are usually nimble and more flexible than larger enterprises. However, we know that there will be uncertainties ahead in 2023. So, get a jump on your thinking by acknowledging that there will be challenges and creating three scenarios with your planning.

What if things improve? What if things get worse? And what if things stay the same? How should you react to drive more sales or simply keep the lights on?

Tip No. 2 – Know the Limits of What You Manage

Have you ever tried to control the weather? Unfortunately, you can’t do it, regardless of how hard you try.

In that same vein, there are forces outside of your control that will have an impact on your company. There is little use getting worked up about these situations. Instead, take a deep breath and begin solving the problem.

However, you can start now getting ready for changes to occur. For example:

• You may have employees that quit, or you lay them off. Now is the time to get more staff cross-trained. Get your bench strength built up to prepare for a labor force shift. For every core task in your shop, have multiple employees trained in that skill.
• Similar to previous years, there could be a supply chain disruption. When your leading suppliers are out of stock or can’t help you, who will you turn to when you need something? Explore your options and get new accounts created now. Order from them so you can experience their process and customer service levels.
• What might happen to your business if over 60% of expected sales dried up? How long could your company survive? Set up a savings account with at least six months of operating capital.
• How diverse is your business from a customer standpoint? Does one customer give you more than 20% of your sales? Now is the time to go after new customers in entirely different markets.
• Understand how your customers want to order and spend their money. If most of your sales come in from one method or direction, start increasing your efforts with what’s working. Don’t be stuck in the mud. Talk to your customers and ask them.

The future is always uncertain. That is what is challenging about being a small business owner. However, you can create a winning strategy by focusing on the things you control, what is working, and what your customers demand.

Tip No. 3 – Teamwork Makes the Dream Work

Nobody has to tell you how difficult it is to find skilled staff these days. If you want a fantastic 2023, you need to put more thought and effort into your employees.

The three areas that you should be most concerned about are:

• Employee retention
• Employee hiring
• Employee training

Keep Your Employees Happy

First, keep your current employees happy, motivated, and engaged with their work. You can’t afford to lose trained and skilled team members, as that knowledge drain can have a devastating impact.

Plus, if any member of your team is any good, they are probably fielding calls and inquiries from other companies. So, ask yourself this question: What is keeping them employed with you? Someone may come along and offer them more money or a better position. Will they turn them down?

Find the New Crew

Now is also the time to look for more employees. Even if they don’t know anything about this industry, you might want to try to augment your team. But get your bench strength built up so you can keep pushing.

If your new hires don’t have much industry experience, they will need time to learn their roles and responsibilities. You weren’t born with these skills, and neither were they, so make sure you have the plan to educate them.

Training Programs

People need to know how to do their jobs well. How are they going to get that knowledge? You must make time for this as part of your business planning strategy. Whether in a classroom setting with an industry supplier, a mentorship relationship with their work neighbor, or some one-on-one time with the boss, each new hire needs to understand their role:

• Basic shop workplace rules and industry terminology
• Key elements of their job
• What does success look like? How long should something take to do?
• “What’s next?” in their day
• How to find answers to their questions
• Safety and best shop practices for their work

Educating your staff is a key leadership responsibility. The more you invest in your staff, the better run and effective your team will become. So don’t put this off. Create a training calendar.

Tip No. 4 – The Importance of Digital Tools

Take a minute to take stock of how you use technology in your business. Do you offer the best, most frictionless experience possible to your customers?

With so many fantastic software tools and apps on the market, you should make 2023 the year you revamp how you do business. Consider these:

• Use digital video tools for face-to-face sales calls or remote work. You can produce and use sales presentations. Your art team can meet with a customer to review the art and make changes live. Even group sessions with multiple people are the norm now.
• What about online stores for your shop? Don’t miss out on the latest sales tool. It is now common for shops in this industry to have dozens, if not hundreds, of online stores. The print-on-demand (POD)-type order is gaining a lot of popularity. How could you use this to your advantage this year?
• As mentioned earlier in the article, educate your staff and create a deeper employee bench for positions. Part of that training could be accomplished using video tools such as Loom. Create a video library of each task and standardize how team members complete them. Post these on a private YouTube page and use QR codes for quick reference around the shop.
• Reexamine the shop software you use daily. Is everyone using it the same way? Is it accomplishing the daily mission, or are there gaps in what it can do for you? Now is the time to reassess this tool, as there are new industry software tools on the market. Take stock of how you use your current software, the time it takes to accomplish tasks, and your needs. There might be something better out there for you!
• When was the last time you gave your website a refresh? What do customers see when they visit your website? Is it up-to-date and useful? More importantly, is it making you money? How do you know? Do yourself a favor and consult a website developer regarding upgrading your website.

Tip No. 5 – Mike Tyson Was Correct

Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.”  This is 100% true.

There may be a recession. But what if there isn’t? On the other hand, what if inflation doubles and prices skyrocket? What are the leading indicators of trouble or extraordinary growth ahead? Are you paying attention to them? Don’t get caught flat-footed.

Now is the time to have honest conversations with your customers, supply chain partners, and employees. It’s not all doom and gloom, by the way. Plenty of shops in this industry just posted their best years and show no signs of slowing down.

Even this causes some concern about what happens if you start bringing in more work than you can handle comfortably.

Having a plan for how you think 2023 will work is good. But don’t forget to have a Plan B, C, or even D to keep your business planning on point.