Many individuals create New Year’s Resolutions to accomplish a personal goal or otherwise improve their life. Your business should be no different. The end of the year is a good time to reflect on your business’s progress the past year and start planning on where you want to take your business this upcoming year.
Whether you want to expand your brand, increase profits, or have a better work-life balance, this is the perfect time to sit down and create your business’ New Year’s Resolutions. These top resolutions can help you achieve that more!
1. Update Your Business Plan
Many businesses and entrepreneurs created a business plan when first starting but haven’t updated it since. Your business plan is an exceptionally useful tool, as long as you use it. Your business has probably evolved since you first opened your doors, so taking the time to update your goals and the steps needed to reach them will be valuable.
Make a resolution to assess and update your business plan regularly. Use it to stay on track both financially and operationally. Get feedback from your employees, loyal customers, and other stakeholders to help increase your business success in the new year.
2. Try a New Marketing Strategy
Looking for ways to increase your sales? Try experimenting with a new marketing strategy this upcoming year. Trying something new will add to your marketing toolkit and could prove to be successful. If it doesn’t work out, that’s ok. One of the purposes of creating a resolution is trying to accomplish something new.
Business consultants such as the Timmermann Group can help set you on a path to adopting a new marketing strategy that is right for your business. Make a resolution to review last year’s marketing campaigns, try new ideas, take risks and increase your business presence.
Small business owners and entrepreneurs are used to doing everything. Although trusting others may be difficult, it is essential to grow your business and also provide you the work-life balance you need. Delegation is important to your success.
Delegation can also help you focus on what you love doing and what you do best. Write down the tasks that you do, and see what you can delegate to others. Some tasks can be automated and outsourced, helping you be more effective and efficient.
Communicate Better with Your Staff
You can only build a great company around great people. Set a schedule to hold regular meetings and consistent performance reviews. This will help set expectations, their personal goals, and make sure they are aligned with the company’s goals.
By communicating more and regularly reviewing your employee’s job performance, they can see how they contribute to the company as well as their skills, career path, and growth, or lack thereof.
Opportunities are important to any business. Opportunities are tied to people, so if you are looking for an opportunity, you are looking for a person. This is why networking is essential. Not only is it a great way to meet potential new clients and suppliers, but it can help vitalize your business. Networking can also help you to make friends and build a support network.
Learn New Skills
Personal and professional growth is important. Commit to learning new skills, or refreshing the ones that you already have. Look for courses, read books and guides, and ask other people to teach you things or give advice. Don’t be afraid to experiment with new ideas. Keep your mind open to learning, and never make the mistake of thinking that there’s nothing left to learn.
Get More Involved in Your Community
Make one of your top New Year’s resolutions to find a cause that matters to you and give what you can. Not only will this make the community a better place to live, but it will also help you and your business build a more positive reputation. Look for charity events that you can join, or offer to serve on a committee and volunteer your time.