6 New Year's Resolutions for Small Business Owners

The New Year is quickly approaching, and everyone is excited for a fresh start and new opportunities. The New Year gives us the energy and hope to pursue our goals, but not all New Year’s resolutions involve self-improvements like losing weight. That magical New-Year-New-You energy can also be channeled into taking your business to the next level. 

For this New Year, we compiled a brief list of impactful New Year’s resolutions that will make 2018 the best year for business yet. 

1. I will be focused and more productive. Make a list of your goals and how to accomplish them, use a calendar or planner, track your progress and setbacks. More importantly, limit your time surfing the Internet and mindlessly scrolling through social media. Instead, dedicate that time to developing your company’s digital presence and accomplishing your professional goals. 

2. I will be a better communicator. Communication is key. And, if you’re considering expanding your team this new year, it’s crucial to make sure everyone on your team is on the same page. Make sure you clearly communicate your company’s vision and mission statements and your expectations for colleagues and employees. Let everyone know what’s expected of each position or project, and how it’ll contribute to your business’ growth and success. You’d be amazed at how much time, energy, and money can be saved by clearly communicating from the start. 

3. I will learn how to manage my cash flow more effectively. This is a great resolution for small business owners who have been unable to create enough capital to invest back into the business, or those who don't really understand the day-to-day finances of the business. One way to do this is to make a financial plan. This plan will look differently for each business, so it’s best to do some research, map it out, and make it happen. 

4. I will have more of a digital presence. Marketing can make or break a business. It’s important to interact with your community and audience. You can make your web presence mobile-friendly, start a company blog, update your website regularly, create an email marketing list, and update your company’s social media accounts regularly. Creating a marketing plan is a great first step, and you can track your activity to better understand what works best for your company. 

5. I will charge what I'm worth. If you often feel underpaid or undervalued, this resolution is for you. Know your audience and market to that audience, revamp your strategy, and know your business’ value. 

6. I will turn my resolutions into outcome-focused goals. You can use the SMART goal methodology; you can work backwards; or you can use goals setting apps to outline the entire process. To turn resolutions into actionable goals, identify the desired results, outline actions to take, and create a timeline for each action. 

Remember, a decision on its own is meaningless. It's when you create a plan that focuses on the desired results of your decision that the magic happens. This new year, take action and make it a year to remember.