New Year, New Outlook – Business Resolutions for 2018
It seems like every time the New Year comes around, many people see it as a new start, whether that’s adopting a new fitness plan, committing to a resolution or taking up a new hobby. It’s often a time for reflecting on your current position and making plans for the future.
However, it’s not just personal plans that can be put into action at this time of year, it can also be an excellent time to consider implementing a new approach for your business.
– Look back before you move forward
The focus for business owners is usually on what will happen in the future, but sometimes it’s beneficial to reflect on the events of the previous year. What went well, what worked and what didn’t – learning from previous experiences and assessing what could be done differently is really important. Looking at the ups and downs can also be invaluable for making provision for the seasonality your business may go through again this year.
– Plan for the year ahead
January is the time to get a good plan in place for the year ahead. Success for small businesses starts with good planning and this will help to focus a business’s efforts and set targets for the year ahead. With a clear strategy in place you can avoid potential pitfalls.
At a time of year when the January blues can hit and have a negative effect on productivity, sharing your plans with your team can help keep them motivated and concentrating on the year ahead.
There’s no such thing as too much planning!
– Look for new business opportunities
With a new year there are always new challenges, but also new opportunities. Assess where you sit in the market. For many small businesses, it is important to take a fresh look at where your company is going and how you are going to get there. Are you looking to enhance and improve what you already do or develop new products and services?
It’s always a good idea to keep a close eye on your competition and see what they are doing well, and where they lack. Maximise your position and importantly don’t get left behind!
– Is there room for improvement?
Take a look at your systems and procedures – making changes at the beginning of a new year will have a positive impact on how you manage your time and therefore on the success of your business performance. But remember, don’t just make changes based on your ideas, take on board customer and employee feedback. They are the ones who know best!
Don’t forget to consider your own role within the business. Are there areas you spend too much time on and shouldn’t be? If you can delegate these tasks to someone else, you should. If your time is best spent on certain areas of the business, make sure these are the priority.
– Start as you mean to go on
All business owners want their business to succeed, but for some the big goals can seem out of reach. Setting smaller, short term goals will help keep the focus. Hitting the smaller targets can inspire you to drive forward onto the bigger goals.
A lot of people try to set new year resolutions, and businesses should be no different. It’s often difficult to take a step back from your business to evaluate where you are, where you want to go and how you’re going to get there. With the new year, there is never a better time to make this your focus.