10 New Year’s Resolutions For Small Business
Susana Marambio
President Network Cork | Business Consultant | Fractional CMO | B2B Marketing | Operations | eCommerce | Mentor | Speaker
Another new year begins, for most it brings hope and new possibilities.
Whether you’re a seasoned business owner or just starting out, there are always opportunities to grow your company. As you step toward the a New Year here we share Top 10 New Year’s Resolutions For Small Business Owners
1. Focus On What You Can Control
When you focus on what you can control,?you are far more likely to experience success. By putting your effort on what you can impact, you can make an even bigger difference
Because you are intentional. Put your all into what you can control. Your own actions. Your own abilities
2. Eliminate Procrastination
Procrastination is the act of delaying or postponing tasks or activities. People may procrastinate for various reasons, such as feeling overwhelmed, lacking motivation, or not knowing where to start.
Strategies that can help deal with procrastination:
3. Be More Decisive
Decisiveness is?key to effectively executing plans and achieving goals. It is important to balance the costs of continuing to deliberate, gather information, and delay a decision versus the costs of making a poor choice.
Decisive individuals are aware of these competing costs and weigh them carefully.
Give yourself a time limit when you're making a big decision. Often, our early impulses are our best ones, and we know what we want to do after just five to 10 minutes. However, if a decision feels big, don't get stuck. Be decisive by breaking that decision down into smaller decisions.
4. Update Your Business Plan
A business plan is not just a document written when you are starting your business, it's a roadmap for your company to stay on track to reach both long-term and short-term goals.? The beginning of the year is a good time to review your business plan and identify any changes should be made to it or to the way you are conducting your business in 2023.
5. Keep Investing In Your Marketing
Find ways to?reduce variable costs?that will not affect your business long term growth strategy.? Many businesses immediately reduce their marketing spend, however a slightly different approach is to dig deeper and understand what's working and what's not and eliminate unproductive activities.?
Engage in conversations with your suppliers and review contracts if necessary.?
6. Focus on Networking
Networking is a tool for growing your business... in the long term.
People buy from people... that they know, like and trust.
We all know the concept, however consistency is what will move the needle. Be strategic on your approach to networking.
Networking is about?interacting and engaging with people for mutual benefit. If you're facing challenges in your business, your network may be able to provide you with advice. Equally, you'll be able to share your knowledge and skills to help contacts, which will strengthen your relationships
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7. Work On Improving Your Processes
Your processes are your way of doing business and identifying your core processes and the best practices, then documenting them to facilitate the standardisation will prove invaluable, not only to impact positively to your bottom line, but to the overall value of your business.
Many business owners neglect this area, however by deciding what the process is and training everyone to follow, you will reduce errors, improve efficiency, increase your bottom line and finally , separate yourself from your business so you can take a longer holidays or even sell it.
8. Create a Healthy Working Environment
As your small business is unique, how you go about developing a mentally healthy workplace is also going to be unique. Being a small business, gives you a number of advantages, including the ability to:
As a small business owner, there are a range of simple, low cost actions that you can take with your staff to build on what you are already doing . These actions are not only good for your employees' mental health and wellbeing, they can boost staff morale and also make good business sense.
9. Take Care Of Your Health
While it can be tempting to focus all of your time and attention on your business, it's also essential that you take care of yourself.
Work related stress?occurs when the demands from running your business are greater than your capacity to manage them and it's important to be aware of early warning signs.
Create weekly routines that includes some physical activity, healthy eating and spending time to share with your family and friends.
10. Don't Forget To Enjoy The Ride
Most of us spend our days (and nights) working.?First when we create our businesses, then to grow it and sustain it.
We don’t complain, we love it.?We can’t imagine working this hard for anyone but ourselves. We work because we’re certain that we’d never be happy taking a job working someone else.
One thing we tend to forget: to have fun.?
As Ralph Waldo Emerson?said: “It's the not the Destination, It's the journey.”
Allow yourself to enjoy every moment of what you’re doing.?Because, if you don’t, you’re missing the point.
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