30 Dec What are the New Year’s Resolution You Can Make For Your Small Business?
It’s the time again when the end of the year is just about the corner and we reflect about the past year and think about what is waiting for us in the coming year.
For business owners, this is the time to assess your financial standing and how your business plan in the past year has led you to where you are now.
Let that sink in.
Now, it is time to think of what you can do for the coming year that will improve and ultimately earn you more bucks in the next 12 years.
Let’s call it your business resolution and while, yes, thinking big may be important, it is also good to look at the smaller things. Because an important aspect of making a New Year’s Resolution is to think smart by making ones that you can actually rally behind and DO until the end of the year.
So, come on and let us pop that campaign and check on the things that you could do to boost our business.
Get help when you need it
Several businessmen are so bent on being hands on with their business that there’s a tendency that they will have to do every single thing.
Aside from making the big decisions for the company, they get involved with other activities such as coming up with strategies, marketing, doing payroll, designing window display for the season, and even scrubbing the bathroom floor.
Spreading yourself too thin may work out fine in the beginning but the stress and pressure will catch up with you. And that will never lead to anything good.
Maybe you have started out on your own and built your way up but if you want to move forward in the business, get help!
When you need help, admit it. Look at which part of the job you are good at and focus on that.
Now hire people who can do the other aspects of the business. Of course, you tap the person whom you could trust the business with so you can focus on the more important aspects of the running a company.
It is a challenge to get the services of the right people for the right job and someone whom you can team up with to help bring the business to the next level. It is a trial-and-error thing but have patience because once you find the perfect person, trust me it will lift a huge burden off off your back.
They say knowledge is power. The more you learn, the further you get in life and this applies to business as well.
Just because you have had a long experience in your area of business, it doesn’t mean that you can now rest on your laurels.
Go back to college and enroll in new curriculum or join short courses that will be useful for the business.
You may even take online courses for this.
Join seminars and workshops and listen to talks. Learn new trends and strategies and learn as much as you can so you can apply these to running your business.
Finalize practices and set it in stone
You may have been thinking of a set of rules for your employees, which you have never gotten around to finalize because your were too busy being a one-man-show; or maybe come up with an inventory system.
But now that you have help, set aside time to finally formalize all this and put it on paper to be implemented in the coming year.
Social media is a game-changer
For the coming year, try and have a more commanding presence on social media platforms like Facebook, Instagram and Twitter.
Everyone is on social media. Your market is there. You just need the right vehicle to get to them and social media is the perfect medium.
It helps you promote your business and it will help you target you promotions to the demographic of your choice.
Not only that, these pages will give you the statistics that will tell you how well or how poorly your did. This way you can design your next strategy based on the interaction with your followers.
Having a social media account for your company helps you reach out to the customers. It will be easier for them to reach out and interact with you.
Pro tips: Invest in a good content because that is what the followers want and videos are the content that drives in more traffic to your page.
Use your logo as the profile picture because that will be your branding and come up with an impressive cover photo.
These are changing times. Marketing trends have changed and you must keep up with the times otherwise, you will be left behind.
Work on your leadership skills
You have to be firm but understanding. Strict but empathetic.
When it is work-related, let your employees know that your rule with an iron fist. Make them feel that you are serious in implementing company’s rules and regulations and that includes being on time and absences.
However, allow your employees to take time off for important personal things like family events: your employee’s wife is giving birth, or someone’s daughter is getting married. Allow them. They will come to appreciate this and this will motivate them to show up at work and work harder.
Love yourself more
This could be your personal New Year’s Resolution, but guess what? The positive effects of this could trickle down to how you handle your business.
Remember that no matter how much you love your company or how passionate you are about your business, you are not your business.
There is more to life than work.
Do not get carried away with making a living that you forget that outside is a bigger life, a bigger world.
Stay healthy. Stay hydrated. Get enough rest. Exercise. Eat right.
The healthier you are, the more you can take care of your business.
When you have everything under control at work, spend time with our family, travel, meet new friends.
You will feel rejuvenated and you will feel more excited to return to work and most importantly, you will be more effective and efficient.