4 Simple Things Entrepreneurs Needs to Do In the first week of the New Year

The holidays are almost over. Many business owners have either taken it easy during the holiday season while their competitor has been busy growing their business. Both entrepreneurs need to get ready for the New year and formulate new fresh, smart, and effective ideas that will grow your organization. No matter what size your business is, B2B or B2C, industry, city, state, brick, and mortar or online – here are 4 simple items you need to get the New Year off to a great start and set yourself up for success throughout the year.

1) Develop a 100-Day Plan:

You may have heard new executives, presidents, employees have to create a 100-day plan. The plan consists of achievable short-term goals that outline their vision. Entrepreneurs should also write down their 100-day plan as a simple blueprint to move their company's productivity and profitability forward. The plan needs to contain the tasks/steps to bring their vision to fruition. The point is to start the year off strong. Not think about what you are going to do. Create a 100-day plan and execute it. You can recalibrate if needed. Don’t forget to celebrate your win if you achieve your plan within 100 days.

2) Declutter your area:

Decluttering a workspace can save you time by making the area easier to clean and get started focusing on the tasks at hand. The added benefit of an already pristine work environment is that you’re also more aware of what you have and what you need. You don’t need to buy any duplicates of office supplies, and minimalist-imbued office space can help prevent you from purchasing unnecessary accessories.

Decluttering even opens up the work area to more space, which is conducive to improved decision-making, contentment, and being more mindful of your work efficiency. 

I’m not saying you must Feng Shui your office, just clean it up to be more efficient. Just pick a weekend and clean up your office. Pick one area/room and just knock it out. Then another day or time go to the next room or area and clean it up. You will be amazed at how easy it will be to declutter if you just focus on one area at a time.

Once your space has been tightened and tidied, implement a cloud-based backup system that allows for fast and convenient recovery of your organization’s electronic files. The decluttering will not only allow your team to operate more efficiently it will also help your office to look more streamlined and professional.

3. Fire the person you know you have to fire.

You’ve decluttered your office/business, now it’s time to declutter some staff. Maybe you’ve tried to intervene to help turn things around, or you’ve ignored the problem in hopes that it would eventually take care of itself. However, you’ve handled the challenge of having weak members on your team, you know that they’re there and that they’re dangerous to the health of your company. If you didn’t have the heart to do any purging during the holiday season, delay no longer. The costs to your firm in reduced productivity, low employee morale, additional supervision, damaged client relationships, and lost revenue that is caused by substandard employees can be as high as $190,000 per year, so make a decision now to either remedy a fixable situation --- or to clean house.

4. Raise your prices.

The first week of the new year is a perfect time to review and possibly raise the prices of your products or services. Too many small business owners try to compete by lowering their prices, and that’s often a mistake. Instead, devise a plan by studying your competitive landscape; looking at your firm’s pricing history; reviewing the calendar to determine the best time to bump up your rate, fees, or prices; and thinking about how you can enhance the value of your offerings to justify price revisions.

Many companies automatically increase their prices at the beginning of the year without any pushback. This is one of the fastest ways to increase your revenue and profit margin. Many business owners have not increased their prices in years and continually watch their profits shrink. Now is the time – raise your prices.

Now is the time to prepare for a fantastic next year. Simple strategies to separate you from your competition. Reenergize your team, plan your marketing, generate new opportunities for innovation and growth.

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Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training. Focusing on lead generation and revenue creation to get growth results for the business.

Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

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