The New Year is just few days away and small business owners should be examining their operations in 2018 and planning a list of things that they can do better in the upcoming year. New Year resolution will help them to improve on the weaknesses of last year. Listed here are some of the best small business resolutions for 2019.
- Develop a Vision
New Year is a time when every business is making various resolution and learn from last year’s mistakes. It is a great time to examine where you are currently standing and make some resolutions with a grand vision that you want to achieve in the coming year. You need to create a list of your goals that you need to achieve in 2019. It might be something personal such as a holiday cruise or new car, or could be business related such as adding more products or hiring more employees.
- Improve Your Record-Keeping
Disordered or unorganized bookkeeping can lead to major losses. Make sure that you record all of the generated income and monitor the expenses. It is the surprising and unrecorded expenses that damages the profitability of business. Until a business keeps a precise financial records of last year’s earnings and expenses, it will be difficult to evaluate its success and profitability.
Having an extensive records of business operations and expenses of last year will help you to predict your next year’s expenses and profitability. Small business owners who have been doing the accounting work on their own will easily find the areas of improvement.
- Improve Brand Recognition
New Year is the best time to improve your brand recognition. You can increase your business exposure and brand awareness by forming a strategic partnership. This means not only forming relationships that are important for your business operations, but to grow your network and add business people that can help you for your business growth.
For instance, if you are running a retail business, forming a relationship with other retail business with different product line can help. Both businesses can refer their customers for specific products.
- Improve Digital Presence
If it’s been too long since your website has been updated, you need to update it first. It is currently also good to make your website mobile friendly. You can also create an email marketing list to better target your market and audience. Modify your social presence by updating the pages. These all things can be added into your New Year resolution for better business growth. One good thing for you is to take a step beyond mobile friendly approach and use the mobile-first approach to improve your digital presence.
- Learn Something New
New Year brings you the opportunity to add something new to your business or learn a new skill personally to add into your profile. Decide on something new that you want to learn in the upcoming year – it may be directly related to your business or yourself. Learning any new skill will add an element of interest into your life that will help you to improve yourself but can also help you to maintain work-life balance.
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