10 New Year’s Resolutions for Small Business Owners

2016 is finally here and it’s time for a fresh start! As you begin to create your New Year’s resolutions for your personal life, maybe you should consider setting some resolutions for your business as well. After all, one way to become the best is admitting that there’s always room for improvement. Here are ten New Year’s resolutions for small businesses to start in 2016:

  1. Have more brainstorming sessions | Employee engagement is extremely important in small businesses, especially in teams of only five to ten people (that means each person is 10-20% of your workforce!). Keep employees engaged in your company strategy and listen to the feedback they have to offer.
  2. Invest in wellness | When 20% of your workforce is sick or distracted by pains caused from sitting or standing too much, your productivity takes a major hit. Not only are these employees absent more, but morale is lower. As an employer, do what you can to keep employees healthy including offering good benefits like health and dental insurance. You could even start your own wellness program!
  3. Track your spending | To run a business you need a healthy cash flow. You can avoid overspending in business by keeping a close eye on expenses throughout the year with monthly expense reports and budget tracking. The more information you have about where money is going the better.
  4. Set boundaries between work and your personal life | When something becomes burdening and all-encompassing of your time, it becomes difficult to enjoy it. Self-employed and small business owners tend to be workaholics. This year make sure you set time for both work and play and stick to it! Work will be much more enjoyable that way.
  5. Go mobile… | …with your website, your tools, and your workforce! More flexibility is better these days. Mobile usage by consumers is only increasing, so in order to stay relevant, your website needs to be mobile-friendly. Using cloud-based and mobile tools, such as Grasshopper and Insightly, is also beneficial because it allows you and your team to work remotely, meaning you can to still get work done even when you can’t make it into the office.
  6. Start a new creative marketing campaign | It’s easy to get lost in all the noise online today. Get creative with your marketing, not just online but offline too. A guerrilla-esc campaign in your local community can be a great way to build sales.
  7. Have more fun! | Work shouldn’t just be an obligation. You and your employees should be having fun! Consider having company events like Taco Tuesdays or Bring Your Pet to Work Day to boost morale. These activities are great ways to further build employee engagement and have a little fun at the same time.
  8. Be more cautious with new hires | Remember that in a small team, one person can equal almost 20% of productivity, so a bad hire can be very detrimental to a small business. It’s not just their own levels of productivity that they negatively affect, but your other staff members as well. Make sure you find the right match by creating an interview strategy, running background checks, and having introductory trial periods for each hire.
  9. Bump up your cyber security | Cybersecurity is becoming an increasing concern for small business owners as more people purchase online and with mobile and physical credit cards. Protect your customers by having an up-to-date cybersecurity system and protect your business with cyber liability insurance.
  10. Broaden your horizons | If your business is doing well, consider what other opportunities there are in the market that your business could take advantage of. Expanding your product line, opening up a new physical location, or even expanding your workforce to satisfy more customers are some of several ways to grow your business.

Leave a Reply

Your email address will not be published. Required fields are marked *