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New Year’s Resolutions for your Business

You may be into the first week of your personal New Year’s resolutions, but have you thought about creating New Year’s resolutions for your business? Here are five ideas to get you started.

Invest in yourself

It is important to take some time for yourself. This could be to improve your wellbeing by making the time to be healthy and exercise regularly. After all, if you don’t have your health, what do you have?

Investing in yourself also means taking the time to improve in a business sense by expanding your knowledge. Make a pledge to read two business books a month. You may think you don’t have the time, but if you always keep a book to hand, you can read it when you are on the train or in-between meetings.

Replace the old and inefficient

All those things you say about making changes to your business? Well, 2017 is the year that you will do them! Sit down and really think about the things you need to change, such as equipment.

Downtime costs your business. If your equipment is old, it can take over five minutes just to log on to a computer, and a much longer time waiting for files to be uploaded. This time costs money. Your employees want to get their work done as efficiently as possible, but if the equipment or internet is slowing them down this can cause frustration and reduce morale.

Findings have shown that one in three employees (36.8%) believe their company’s technology is outdated, while one in four workers think their company’s technology and policies hurt their productivity (25.4%).

If this is the case, 2017 should be the year that you invest in newer equipment and, potentially, a new network. If your internet is temperamental, do you have a backup?  It’s important to think about how you can limit potential disruption.

Put some fire into your marketing

Marketing is essential for any business; if people don’t hear about what you do, then the chances of increasing your sales will be pretty limited. Nevertheless, many small businesses often neglect spreading the word.

For 2017, create a new marketing strategy. Look at what you are currently doing, consider what’s working and where you would like to invest more. For example, are you taking full advantage of digital? Is your email marketing not effective? What else can you do?

Make more time for one-to-one contact

How often do you actually have face-to-face contact with your clients? Did you know that the best relationships can be formed with face-to-face interaction? Having meetings with clients in person can really go a long way to building more trust and, ultimately, providing better service. Plan some face-to-face time with clients by simply inviting them to coffee or lunch.

Improve your processes

It can be easy to get complacent about how a business functions, even when we know it is not perfect.

For example, some employee tasks can be automated which will give staff more time to do other work, increasing productivity. Spend some time researching process improvements and where you can implement streamlining, such as order processes, marketing or accounts.

Conclusion

These ideas can set any small business on a path to making positive and effective improvements. However, try to spend some time thinking of the improvements that would be tailored to your business.

If the tasks seem too great, consider how they could be broken down into smaller chunks and then timetabled into easy-to-follow steps. For example, if you would like to improve your marketing, why not adapt this into improving your social media campaigns?

The key is to make sure your goals are realistic; if they are not manageable you are setting yourself up to fail.

Have you planned any New Year’s resolutions for your business? Tweet us @kingstonsmith and join the conversation!