New Year’s Resolutions For Small Business

Recently I was asked to put together a list of resolutions for small business. As I read them over, however, I realize that these are also great resolutions for anyone–business owner or not. Most important, remember that baby steps are usually best when talking about change so please look at these proposed resolutions as year-long projects instead of quick fixes.

 

1. Resolve to clean out the clutter. Clutter becomes a psychic drain–blocking creative energy and new ideas. When a business’s physical space is disorganized or overcrowded it sends a negative message to staff and customers. Donate to a reputable charity or find a local auctioneer to help you liquidate extra inventory and unwanted items.

 

2. Resolve to tap into your existing resources. Make a list of your personal and professional resources and connections. Next, create an action plan outlining how you will use each of those resources during the next month, six months, and year ahead.

 

3. Resolve to give your internet presence a face lift (or makeover). Your web presence is your business’ face on the world stage. It should be a work in progress. Keep your website current and make frequent updates and revisions. Make sure your website links to your social media and blog pages.

 

4. Resolve to reduce expenses. I have come to realize that living below one’s means is a key factor to life success. If you (or your business) are living above your means (this means debt is growing) and you cannot figure out how to make more money, it is likely time to figure out how to spend less. If you don’t see what you can trim, sit down with someone who doesn’t know much about your business operations. Show them your expense spreadsheet. Explain where your money is going. Then listen for feedback about which expenses seem out of line.

 

5. Resolve to provide exemplary customer service. Your customers are the key to your success. Can you keep your customers happy? I am amazed at how often I encounter businesses that seem oblivious to the fact that if they don’t make their customers happy, someone else is waiting for the business. Stay connected to your customers, find out what is working for them, what isn’t, and what needs you can meet.

 

6. Resolve to build your brand by tightening your niche. Your brand is what makes you stand out from the crowd. If you don’t yet have a niche, and nothing in your industry calls to you, start studying your industry’s past, current, and emerging market trends. Do some market research by talking to targeted customers and find their unmet needs. Having a niche doesn’t mean you turn away from other business. You can still accept out of niche business. But having a niche gives you a marketing target and expert status.