Ten New Year’s Resolutions for Business Owners
Plan for success this year, by creating ten new year’s resolutions for your business. Creating impactful resolutions for your business is likely to bring positive change. The beginning of the year is a great time to reflect on your business’ progress, reset and make changes to positively impact business going forward.
Here are Ten Suggestions to Help Your Business this Year
Delegate More as Business Owner
Small business owners tend to try take on many activities themselves. Delegating some of these tasks will help you save time and avoid unnecessary stress. Delegation is the key to a good work life balance. Outsourcing some of these activities (for example: HR, payroll, finance / accounting etc), or delegating activities to other employees, will provide extra time to work on other business activities.
Learn How To Manage Cashflow More Efficiently
Managing your cashflow efficiently is key to growing your business. Preparing an accurate cash flow projection will help your business identify problems before they occur. Using cloud accounting tools can help you manage your cash flow more efficiently.
Revisit Your Business Plan
Creating a business plan will help you identify business goals and put steps in place to achieve these. The beginning of the new year is the perfect time to create a business plan or revisit the business plan you have. Make sure to include clear and measurable targets so you can measure your progress throughout the year.
Improve Your Business’ Digital Presence
Updating your business website frequently will help you improve your online presence. As more consumers are researching businesses online and purchasing online, adding this to your business’ 2021 resolutions is a good start. Making sure your website is mobile optimised and updated frequently will help you grow your business online.
See which elements of your business can be paperless. Moving certain areas of your business to the cloud gives you instant access to data and helps avoid errors. Moving your business to a cloud accounting software like Xero helps minimise risk and gives you access to financial results in the touch of a button.
Weekly Business Strategy Meetings
Planning is vital when managing a business. Running a business can be chaotic and its easy to focus on the day-to-day operations. Making time for weekly strategy meetings helps you reflect on what has worked for your business and areas that may need improvement. Set aside a half an hour each week to review your strategies. This will allow you to stay on track and have a clear view of your business objectives.
Promote Your Business Regularly
Take time to create a monthly plan or engage with a marketing professional to discover ways you can promote your business. If your business does not have a marketing budget, there are plenty of ways to promote your business at a relatively low cost. Posting to social media or getting local press coverage for your business will help improve your business’ awareness.
Find out what makes your business’ customers happy and identify areas for improvement. This year talk to your customers and how your business could serve them better and what else they would like from your business. If you have an email database sending a customer satisfaction survey could be a good way to gain customer insights.
Reflect on your business processes and reconsider out of date processes. Investing in new technologies that will automate mundane tasks will save your business time and improve productivity.
Protect Yourself Against Cyber Security
If you have not reviewed your business’s cyber security recently, now is the time to do so, putting in place safeguards to help protect you from attack in the future.
These ten business resolutions will help you plan for success in 2021. Gallagher Keane offers the following services which may be of assistance to your business:
- Cloud accounting
- Outsourced accounting and payroll
- Business strategy advice
- Business plan and cash flow preparation.
If you require any additional information in relation to Gallagher Keane’s services, and how these can help your business, feel free to book a no obligation call here.