Cliches aside, is there truly a better time to reset your intentions and goals than at the start of the new year? For businesses, it’s always important to reassess your strengths and weaknesses, and the beginning of a new year can be a great time to do so. While there are always aspects of a company to improve upon (i.e. margins, churn rate, profits, etc.), there may be more to strengthen than just numbers. Here are a few ideas to get you started:
Delegate, Delegate, Delegate
Many business owners feel the need to tackle everything themselves. They think, “Who else but me can do this properly?” In truth, most of your employees are more than capable of doing half of the tasks you stress about doing yourself. In the coming year, try to make a concerted effort to delegate more tasks to your talented employees.
Promotion, especially on social media, often falls to the wayside for small business owners. However, if you want to improve your numbers, you’re going to have to attract more clients. The best way to do this is through getting the word out on your business, especially through social media. If you’re too overwhelmed or busy to do this more, social media would be a great task to delegate!
Adjust Your Business Plan Weekly
When was the last time you reviewed your business plan? If you can’t remember, it’s time to pull it out and reevaluate it. To maximize your year, it can even be smart to reevaluate your on a weekly basis. This allows you to remember everything that did and didn’t work and immediately figure out a way to capitalize on it or change it. Weekly checks of your business plan will also help you save money in the long run as you track expenses more closely.
Old dogs can learn new tricks and you can too. No matter how long you’ve been in an industry or running your business, there is always more to learn. Taking the time to pick up a new skill, whether related to your business or not, will help you approach problems from a more well-rounded perspective and help inspire new ideas to keep your business fresh and innovative.
To figure out your business resolutions for the new year, begin by taking stock of your business—the good, the bad, the mediocre—and your personal goals. When you combine the two, you’ll have a good idea of what you most need to work on.