Five New Year’s Resolutions for Small Businesses

Five New Year’s Resolutions for Small Businesses

You’re back on deck for 2016, and this is it – this is your year!  But…. now what?  What are you going to do differently?  What are you going to do this year that you won’t regret NOT doing in December?!

Here are five resolutions you can make:

 

1. Plan to succeed

Where do you want to be in 12 months?  Have you got a business plan which will take you there?

If not – don’t fret.  Break it down, budget for the next 12 months, visualise what you want your businesses (and life) to be in 12 months, and most importantly, WRITE IT DOWN.

Remind yourself to review your goals every month.  Put a reminder in your calendar or better year, download a goal tracking app for your smartphone so you always get that reminder to keep you on track when it’s all slightly out of control.

 

2. Introduce a new service

This may seem like a radical idea but might be the key to unlocking new customers or new talents in your team.  Is there something you can do that you aren’t telling your clients?  Is there something you can add to your product offering?  Make it your goal to introduce at least one new product or service.  Take the chance – you may be surprised how it invigorates the rest of the business!

 

3. Cut costs

Going through a cost cutting exercise is daunting.  Where to start, when to do it?  By the time you’ve put some mind to it, you’ve just paid another 12 months of costs you could have reduced.

Try picking one major cost centre per month, and spend one afternoon in that month reviewing supplier arrangements, cost alternatives, etc.  Break down the job into smaller parts, it’s far easier.

 

4. Treat yourself

The grind isn’t easy, no matter what industry, profession or size of your business.  And what is it for, if not to treat yourself every now and then.  Typically however, we just flat out run out of time, and it’s another year gone.

Book a holiday now, take it out of the calendar early.  Pre-order the new car.  Get the Millennium Falcon LEGO set today.  Whatever you do, make sure that you lock yourself in, otherwise you’ll miss it (again).

 

5. Give back a little

On a lot of Australian’s ‘wish-lists’ is the ability to do some good in the community.  Plan to spend some time helping a local charity or community project.  Make your business a little more environmentally responsible.  Budget to donate some funds or goods.

If you can make a little difference, it makes a big difference.  Maybe when it comes Christmas time in 2016, you’ll walk a little taller for helping out!

 

Contributed by David Gow

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