With the New Year fast approaching, we compile a list of the New Year’s resolutions every small business owner should make…
Be more productive
One thing that can affect the success of a small business is productivity, whether that’s the efficiency of your staff, the equipment or even yourself. With New Year’s promising a fresh start, it may be time to look at ways your business can change for the better.
If your equipment needs updating, then take the New Year as an indication to make these positive changes; whether you need to update your shrink wrap machines, buy new computer systems or invest in new products. Running your business on machinery or equipment that is not efficient or reliable will inevitably have a negative effect on productivity.
If your staff are not as productive after the festive season, look to boost their morale with reward schemes, so they have something to work towards. These don’t have to be expensive rewards, but showing your staff you appreciate their hard work can go a long way. If you’re finding it’s yourself that needs a boost, look towards motivational business guides to give you the extra kick you need.
Be organised and plan ahead
This tends to be on everybody’s resolution list. For small businesses this can mean analysing the progress made over the last year and finding ways to maintain the success, or alternatively increase on the profit made. You may even need to look at your original business plan and shape it to fit the way the business is performing currently. A cohesive and thorough business plan will help you prioritise how time is spent, as well as help you reach measurable goals. The business plan should also outline any current or foreseeable obstacles so that you can plan ways to overcome such risks.
Make sure to put any industry events to your social calendar. Networking with new people can lead your business into new and exciting ventures you could have never thought possible. If you’re wanting to expand your brand, which any small business should, getting your face- and your company- out there in the real world can allow you to connect with potential customers or business allies. Networking will also allow you to keep in touch with the current affairs of the industry, which will ensure your business is always current and on the ball.