Promises and Competition

Filed in archive business tips on December 24, 2007

This is the second part of the end-of-the-year analysis tips for home based business owners.

Do you have a list of New Year's Resolutions made last January? If so, it's time to take it out and see how you've done. For each goal, ask yourself if you've succeeded accomplishing it or whatever you can do to improve your chances of attaining those goals. If you've made headway, try to quantify it with a percentage rate for completion. Then, ask yourself if the rate is reasonable or not. What did you do wrong? What did you do right? For unattained goals, consider if they're still necessary for your success next year. If so, what kind of obstacles prevented you from succeeding and what can you do about it this time?

How about Checking Out the Competition?
While the law allows us to obtain certain financial documents of almost any given company, we all know that those papers don't always show the real state of the business. Use your sources to dig out the truth. When you have the necessary papers, compare those figures with what your entrepreneurship has so far produced. How much have they earned this year? Has their market size increased? Has their customer service improved?