The beginning of a new year is regarded as a time for self-reflection and new opportunities. As you consider what gym to join or what new hobby to take up, take a moment to reflect on your business and what opportunities the new year brings to your small business. While you’re still in that post-holiday, optimistic state of mind, now is the perfect time to think what realistic resolutions you can set your small business to succeed! If there’s ever a time to transform, it’s now.
Is it time for you to re-assess your business plan?
Take a good look back at 2015. (Or, if you’re a Google time-traveller, 2016, 2017, 2018 or whatever time you’re from!) What are you proud to have accomplished in the past year? Was there any time which you said to yourself, “I should do it differently next time”, before falling back into the same routine? Clarify your goals and simplify them. Your original plans or goals may have changed since the inception of your small business. With the experience you have gained, you may need to start narrowing your focus or making adjustments based on new knowledge. Even if business is going well, you can always strive to be better.
Example New Year’s Resolutions for Small Businesses
I will organise more team-building activities or fun work events.
Maybe you’ve been so busy lately, you’ve been neglecting your employees? Sure, you’re confident that they’re satisfied with their work environment, but do they each feel personally appreciated? Taking the time to get to know your employees and giving them fun new opportunities to get to know each other beyond a work capacity can result in higher productivity and employee motivation.
I will update the website with a fresh, new design and increase web traffic.
Does your website still look like it was made in the 90s? Does your website work on mobile? Is your website deterring potential customers? With the prevalence of internet use and the ever-increasing number of mobile users, your website is the virtual face of your business. Is it time for a face lift?
I will participate in more business networking meetups or events.
Networking can help to generate new business through referrals. But it can also benefit your business in all sorts of unexpected ways also. Maybe you’ll collaborate with other local businesses, or form partnerships, or even end up as a guest speaker at a major event.
I will develop longer lasting relationships with my customers.
People these days are presented with a lot of choice when it comes to deciding on products or services. Make your company be at the forefront of your customers’ decision with customer incentives or even just a friendly personalised “hello” every now and again to stay in touch with previous or existing customers.
I will increase sales by X percent.
Make “X” a feasible, quantifiable number. One that you can actually achieve, but one that you have to still work to achieve. Setting the bar too high and failing can deter you from setting future resolutions and goals, but setting the bar too low can make you feel as if you haven’t actually achieved anything.
I will define a “company culture”.
Do you feel as if your small business could benefit from a company culture? Having a defined company vision that your employees can understand, share and believe in with you will ensure that everyone is on the same page and motivate employees to adhere to a thoughtful company code or set of values.
I will attend a big industry event, such as a show or conference.
Taking the time to learn from your industry’s thought leaders may enable you to think about how you conduct business from a new and refreshing perspective. You can benchmark your business’ performance against the industry standard, identify new trends within your industry and see what similar small businesses are doing to improve themselves.
I will do more for charity and let my business give something back.
Whether you would like to personally donate more of your business profits to charity, sponsor charity events or participate in fun runs with your employees as a team, not only are you raising brand awareness you can feel good that your growing business can contribute to helping others.
I will create a new marketing plan for my small business.
Sometimes you work so hard to make your existing customers happy, you forget that you should also be trying to find new ones. Re-evaluating your existing marketing plan or developing a whole new one might be just what your small business needs to attract new customers and grow.
I will redecorate my office/shop and replace old equipment.
Updating the look of your workplace can bring a new lively energy to you and your employees. Maybe the furniture is getting a bit worn and in need of replacement, or you want to go the extra mile and renovate the whole space for a new modern look. More importantly, maybe what you really need is to just replace or upgrade old equipment, such as old computers, to improve productivity with quicker, less stress-inducing machines… Is your office still running Windows XP?
I will take more time off!
Feeling burnt out? Worked yourself too hard last year? Make your business new year’s resolution a well deserved holiday away from it all. When you return to business, you’ll feel so invigorated and fresh-thinking you’ll be in the best state of mind to make an even more positive impact on your business. Similar to this post-holiday new year bliss that has encouraged you to think about resolutions for the new year…
The New Year is a time for New Thinking
Whatever you concoct for your small business new year’s resolutions, clarify on paper why it’s a goal, and what you can do to achieve that goal this year. The “why” behind each goal will be what keeps you motivated throughout the year, and the “what” will be what makes the goal feel attainable by carving out a direct route through any discouraging uncertainty.
Like the idea of new year’s resolutions for small business owners? Why not get your employees involved too, and ask them to write a quick note of their work related new year’s resolutions!
What’s your business’ New Year’s Resolution?
Leave a comment below!