As we are entering 2018, there may be no better time than the present to take stock of your small business and figure out how it can be step forward. Take time to reflect on the way you and the business have progressed in 2017, and put your intellectual cap on.
All those enduring issues with the business that shake your head late at night time should come to the forefront now. Similarly, what new ideas have you ever been considering about; however not yet executed?
No matter what type of business you are running, these are the New Year’s resolutions that every small business owner should consider.
Resolution 1: Collect the Money You’re Owed
I am not sure there is one factor that makes a greater effect than this in relation to starting your year on the right foot.
Small businesses are tarnished for allowing their customers slack on paying what they owe. Every so often it is due to the fact that the small business has a bad collections process. However, alternatively small businesses are simply self-conscious, and people don’t like to flat out ask for cash.
Spare some time each week dedicated to getting the cash owed to you. You will observe a big impact early within the year and fix collection problem if any by the end of year.
Resolution 2: Let Go of Inefficient Employees
While you allow an inefficient employee to stay, it reduces your confidence as a front-runner. Coworkers get exasperated, and dancing around the issue will not make the issue go away.
Consider, it’s never worth losing an excellent employee due to a bad one pushes them out. It is a bad thing for both your customers and your business. Take the 2018 as an opportunity to take a good, hardworking employees in your business and take out the inefficient employees from your business.
Resolution 3: Don’t Let the Leads Slip from Your Hands
Don’t let the leads slip from your hands. Set aside time to get back in touch with the customers and partners to get them re-engaged with your business.
In case you can create new and effective methods to follow up with your customers, you’ll find out that you can sell much more to them. Likewise, they’ll act as promoters for your small business.
Resolution 4: Test New Marketing Strategy Every So Often
You need time and money to carry this out; however, it is a remarkable way to learn about what works in your business and what doesn’t. There are lots of ways to check new advertising and marketing techniques. You can launch a customer reactivation marketing campaign focused at people that haven’t purchased your products or services.
Different ideas include keeping a prospecting or educational event within the office or online, as well as doing a testing for your customer newsletter to see what type of content generates maximum leads. Split your email listing in half and send one group a version of a newsletter and another with a different technique to see which one converts better.
Resolution 5: Systematize Every Process
Try to leverage technology to systematize every process, daily tasks that consume your time and energy, which include collections, welcoming new consumer and lead follow ups.
There is opportunity for any monotonous workflow in your business to be systematized, and the advantages can be huge. You also need to dedicate yourself to investigating technology that can move you towards automation.
Step in 2018 with confidence and attitude that this year can be the most successful for you and your business.