(BPT) - The end of the year provides a natural moment for reflection. Millions of individuals take this time to make resolutions and set themselves up for a productive new year, and your business can benefit from the same approach. An annual review of your business can set the stage for a successful year ahead. From assessing goals and staffing needs to reviewing processes and identifying potential gaps, the new year is an ideal time for strategic alignment and planning.
According to research from Bridges Business Consultancy, 48% of leaders spend less than one day per month discussing strategy. It's no surprise, then, that 48% of organizations fail to meet at least half of their strategic targets.
"With 2025 just around the corner, now is the perfect time to look back on the past year and recalibrate," says Brittney Passini, director of commercial lines product development at Acuity Insurance. "What have you accomplished this year? Have you made any changes you need to account for in your planning for next year?"
Passini emphasizes that the new year is not only a time to evaluate performance and set business goals but also an opportunity to ensure your insurance coverage reflects your evolving business needs. Below, she offers four tips to help position your business for success:
The new year is an ideal time to set your business up for success. Strategic planning should involve all aspects of your operations — including your insurance coverage. For help confirming your insurance is adequately serving your business, and to optimize risk management strategies, reach out to an independent insurance agent.