January is a great time to look back at 2024 to see what worked, what didn't, and where do we need to adjust?  Here are three things to put on your to do list now that the New Year's dust has settled:

1 - Review Last Year's Performance

Pull a profit and loss statement and see where you spent more money or less money - can you name why it went up or down?  If it went up did it drive revenue?  If it didn't do you need it this year?  Can you adjust it at all?  It could be Cost of Goods Sold (COGS), rent, marketing, your team, but look at everything and see who/what gets to stay and who/what needs to go.

2 - Review Your Products

In line with folks staying or leaving I always end up cutting a product, or more, in January.  We have a ton of skus and some of them end up not really pulling their weight.  We may experiment with putting things in the "vault" and bringing them back at a different season or they just might get cut.  If you are cutting something I'd recommend sending an email out to previous purchasers to let them know an item is exiting and they tend to scoop up what's left pretty quickly.

3 - Look Ahead at Your Calendar

What do you know is coming?  What sales will you have?  Any events/markets you're doing?  Get a big calendar that you can put on your wall and start writing it all in so you can see everything - it's so helpful!  It also lets you know what you need to plan for.  

Fun fact - we go over ALL of these concepts in great detail + more goodies in the Beauty Brand Growth Roadmap.  If you haven't checked it out it's a course I created to save you money, time and frustration.  

The Beauty Brand Growth Roadmap includes more than 60 instructional videos, a 125+ page workbook, weekly Q&A sessions with me and covers a host of topics.  Click here to learn more.