New Years Business Resolutions 2016

Tuesday, February 9, 2016

Every year sometime close to the new year I write two posts. One is a personal resolutions post and one is a business resolution post. I like doing this exercise because it makes me focus on what my goals really are and it forces me to check in to see if I have achieved them.  So let's see where we are now that a year has passed. Last years goals included doubling my 2014 sales figures, focusing on marketing, launching two new lines of hardware and getting a major licensing deal.  Pretty ambitious.  I didn't quite hit the 2x mark but I definitely was able to increase my sales.  As far as marketing goes, I think I did a pretty good job here. Along with doing postcards, working on my social media presence and sending out press kits, I was able to get into Elle Decor, Consumers Reports, and on the front of HGTV magazine.  It was a great year from a PR standpoint.   Sadly, I didn't launch two new lines as hoped, but I am confident that in 2016 I will do so.  And I didn't start any licensing deals but maybe that should be a more long term goal as I expand my line.  One thing I have learned is to make my goals a bit more realistic!  So here goes for 2016:

- Launch two new lines of hardware. I have the Reveal Series prototyped and ready to go, so this should be out shortly. I can't wait to introduce it to everyone, plus the price point is a little more palatable.  There are a couple others in the works as well that I am confident should be in production by years end. The thing I have learned is that launching new product is a long road. Prototyping takes forever and designing and testing never end up being a priority over the day-to-day either for me or for the manufacturers I work with. In other words once I'm ready to finally get something under way, it takes a while for the rest of the cogs to start turning as well. Definitely important to keep up the momentum and to have several lines in the works just to see what sticks.

- Focus on marketing and PR.  This year I want to send out more press kits and get more press mentions both in traditional print publications as well as online.  I also have one big thing that I am doing and that will be to bring on a publicist / agent.  I am working with Gretchen Aubuchon at Fashion + Decor who is an old friend and serious mover and shaker in the industry. Unlike someone who just does PR, Gretchen is more like an agent. She will be out there trying to push Nest Studio and Jessica Davis as a brand. I can handle the press releases myself, but hopefully with the help of Gretchen's team, I will get more press mentions, speaking engagements, showhouse partnerships and overall brand exposure to help grow Nest Studio.

- Up my Social Media Presence. I've been working on this more this past year, but in 2016 I am trying to actually come up with a social media strategy and figure out the best way to showcase both my hardware line and my personal aesthetic via Instagram, Facebook and Pinterest.  Some people may ask why I'm not doing the others (Twitter, Vine, Snapchat etc). After talking to a number of social media experts (such as my husband), it seems best to really focus on the core social media that drives my industry and to do all of those well versus do them all in a mediocre way. I'm still learning but I'm already increasing my followers and making meaningful connections that are very exciting.

- Increase my sales by 50%.  I realize that doubling sales was a bit of a reach last year.  That said, I think with the help of increased marketing, social media, and by launching more lines and therefore having more product to offer, a 50% increase is both more realistic and a good attainable goal.

Well, that's it.  I really should print out this post and put it up on the wall to check in from time to time.  Stay tuned for my personal goals for 2016. What sort of business ideas and goals do you have slated for the new year?

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