Business Resolutions For Success in 2019
Welcome to 2019! It’s that time again when everyone is making resolutions for the new year. It seems like we hear the same resolutions being made year after year after year. People resolve to eat healthier. Exercise more. Get more involved socially or politically. Read more books. Spend less time on the phone. Learn a new skill.
But when was the last time you made a business resolution? Often when we think about the habits and behaviors we’d like to change, we frame it in a more personal way. Everyone has something they’d like to change and improve upon – your business is no different! Whether it’s the way you handle your books, your social media presence, or your day-to-day practices, there’s always room for improvement. Listed below are 10 resolutions you might want to consider as we head into the new year.
1.) Get Some Exposure
More and more, small business owners are finding newer and more creative ways of advertising and promoting themselves. Look at your business and try to figure out who your target audience is, the best way to reach them, and how to effectively communicate your business mission and what services and/or solutions you can provide your customers with.
2.) Manage Your Money Better
Do you struggle with understanding your own finances? Are you having difficulty keeping accurate track of your profit margins, ROI’s, and operation costs? Consider making a resolution to finally organize and effectively manage all of your financials. Whether you decide to hire an accountant, use accounting software like QuickBooks or Zero, or even create your own system using spreadsheets, there are a lot of options out there to cut through all the confusion of financial ebbs and flows and get yourself on track.
3.) Become Social
If you aren’t currently on social media, now is the time to reconsider. The amount of exposure you can gain from having a FaceBook, Instagram, or Twitter account can boost your brand recognition and sales quickly and effectively.
Ever considered starting a business blog? It’s another great way to connect with your target audience and let them get to know the people behind the business.
4.) Go Digital
While keeping up with technology trends can sometimes be difficult and expensive, creating a website and/or mobile app can really get your business moving in the right direction. If you want to start simple, you can create an email marketing list or update an existing web page to make it more visually appealing and user friendly.
5.) Plan Ahead
While you may think you’re ahead of the game when it comes to longterm planning, you can still resolve to sit down and take a long hard look at your business’ future. Do you have a contingency plan in place in case the economy takes a sudden nosedive? What will you do if you lose a significant portion of your inventory? Is there a plan to handle unanticipated absences due to sickness or injury (either your employees’ or your own)? Make sure you’re not only mapping out a business blueprint for the coming year but also planning for the unexpected.
6.) Create a Real Balance
This is a tough but important resolution. From the outside, owning your own business can seem like a dream come true. You get to be your own boss, make your own rules, and run things your way. The downside to that, of course, is that it may be more difficult to balance work and home life. When the buck stops with you, it can feel impossible and even irresponsible to take a step back and focus on your own wellbeing. But ask yourself: am I spending so much time working that it’s becoming detrimental to my health, my relationships, and my business? If so, you may need to be brutally honest with yourself about how to make the right adjustments so that you can achieve a balance that’s beneficial to you and your business.
7.) Be More Productive
With so many available distractions around us, staying focused and on task can be a real challenge. Resolve to make the most of your time, whatever that looks like. Most people find that they’re most productive during certain times of the day. Some are more energized taking shorter, more frequent breaks while others find that fewer, longer breaks suit them better. Try making small adjustments until you find what works best for you to maximize your most productive times and help you stay focused and engaged.
8.) Grow & Expand
If your revenue easily exceeds your current operating costs, consider growing your business either through hiring, increased inventory, or investing more money in marketing and advertising. If that kind of growth isn’t yet possible, consider simply increasing your social media/web presence.
9.) Communicate…….and Then Communicate Some More
Whether you’re running an FBA business by yourself or have employees, the new year is a great time to reconsider your communication strategies. If you’re a one-man or one-woman show, are you communicating effectively with your customers? If you have employees, is open and honest dialogue encouraged? Are there clear lines of communication between you and your entire team? If you’re not sure or believe changes are needed, consider bringing others to the table to discuss the matter and figure out the best ways to improve communication so that it benefits everyone.
10.) Get Involved
If you own a business, you have a platform. Consider jumpstarting the new year by getting more involved in your community or with charitable organizations. It’s not only a great way to engage others and give your business some positive recognition, it gives you an opportunity to support social or educational causes that are near and dear to you.
No matter what you resolve to do in the coming year, there are endless ways to improve your personal and business growth. We hope that this list of resolutions can give you some great ideas to have the most successful year yet!