As we approach the new year, many businesses are considering how they want to grow in 2026. Should they expand their offering in some areas and scale back in others? What does the market demand? To determine this, you need to have a sustainable way to attract new business while maintaining your current customers’ needs.
But before we create the Business Development and Marketing plan, now’s the time to focus on a targeted strategic plan. In a recent Harvard Business School review, they state that 48% of businesses fail to meet at least half of their strategic goals. Proper foresight and planning will help allow you to position yourself with the other 52%.
Knowing the importance of strategic planning will help you to maximize all that you can in 2026 and beyond. Some basic things to think about might be….
- Do you have a clear understanding of each of your products’ profit margin?
- Do you need to invest in new equipment? (are you aware of the funding opportunities?)
- Are you planning on investing in your workforce? (are you aware of the funding opportunities?)
- Do you need to invest in your facility? (are you aware of the funding opportunities?)
- What are your current lead times?
- Do any of your current customers have any plans for expansion that might affect your business?
- Are there any foreseeable issues with your supply chain?
- Do you have a clear understanding of the direction your markets are going?
- What tools are you using for your plan? (ex: SWOT analysis)
- What metrics will allow you to track your continued success?
If your strategy is well formulated and executed, you will see your business grow faster and increase profitability according to research done by PricewaterhouseCoopers. If not done well, you could see missed opportunities or even decreased output and other negative effects.
This is where we can help. Together we can create a custom plan tailored for your business, specific products and markets served. We can also help you implement this plan and provide continued personal support for your business throughout the year. We want to help you succeed, and with the right strategic plan, 2026 can be the year for you and your business. Contact Us for more information.
“I need a new website” is a statement we often hear. While a website is one of your most important marketing tools, it is easy for your site to get lost in the vast sea of search results even if you offer a superior product or unique solution.
With each passing week, it seems that more businesses have started to utilize AI to introduce new features and enhance productivity in their workforce. While this can be useful, in many cases as with any new technology, oftentimes who comes out ahead is not who can use it the most, but who uses it the best.
While Connecticut’s larger manufacturers typically have marketing departments (or at least an agency contract), the majority of our state’s smaller manufacturing companies do not. When asked why, they’ll typically say it’s because they’re “too small”, so it’s not in their budgets. They see marketing as more of a luxury than a necessity – and they couldn’t be more wrong.
I attended the annual Women in Manufacturing Summit earlier this week. There were over 2,100 people at the Summit in Boston which offered more than 60 educational sessions. I was fortunate to attend the presentation on Reshoring by Rosemary Coates, Executive Director of the Reshoring Institute.
It’s manufacturing month and I’m feeling inspired. I was at the ElevateHer quarterly meeting on Tuesday, the CT Manufacturing Summit on Wednesday, and will be at the Women in Manufacturing (WIM) national summit next week. There’s so much going on that it’s hard to keep up. For that reason, I thought, why not share what I’ve learned? Here are some interesting articles. Take a look and let me know what you think.
Cybersecurity management in the manufacturing industry is more important now than ever. Manufacturing is the most frequently targeted sector worldwide, likely because it’s one of the most rapidly changing industries in the global economy.
Have you implemented a strategy to utilize advanced data analytics and AI for your business? If the answer to that question is “no”, find out how this new software is saving time, money and human capital.
A steering wheel and gas pedal are both necessary to operate a car but have different functions. The same can be said for marketing and sales. To operate a machine various pieces and parts are necessary; a machine will run smoothly if it has the proper maintenance and parts operating it. Similarly, the same is true with marketing and sales.
I’ve been a self-proclaimed manufacturing cheerleader since day one. Even before becoming an official manufacturing ambassador for the state of CT, Web Savvy Marketers and the CT Manufacturers Resource Group (