New Year’s Resolutions for a Small Business

It’s a new year and time to give your small business a boost with New Year’s resolutions. Finding ways to improve your company continually is a vital part of being an entrepreneur. The smallest changes can make a big difference in your business. Take a look at some great examples of New Year’s resolutions for your small business.

2021 Small Business Resolutions

Revamp your business with these New Year’s resolution ideas:

  1. Delegate More So You Can Focus on Building the Business

If you are caught up in the day-to-day dealings of your small business, you will not have time to focus on growing your business. For roles like customer service, accounting, fulfilling orders, inventory counts, and other daily tasks, leave them to your team. When your time is freed up due to delegation, you can turn your energy toward marketing your business and helping it grow.

  1. Call for Weekly Planning Sessions

Yearly and quarterly planning meetings are essential for keeping a small business in check. But take it a step further and plan out your business strategies each week, cluing in the team on your goals and working together to implement them. You will find that setting aside time for planning meetings will actually save you time overall.

In each planning meeting, you can take a look at the New Year’s resolutions you are implementing and tweak them to serve your small business in the best way possible. Letting too much time go by can really set you back if you don’t catch a lousy business practice right away.

  1. Promote Your Small Business Continually

Sometimes you can get so busy that you lose your focus on continual marketing and promotion of your small business. Even when times are slow and money is tight, regular and consistent promotions will keep your company at the top of people’s minds. Running promotions and finding ways to get customers back on your site or get their foot in your door will always benefit your business.

Make a New Year’s resolution to pay for marketing in 2021. Keep track of the cost and find out if the ROI makes sense for your small business. Many e-commerce companies find success with social media advertisements. If that is something you have been hesitant about, take the jump into investing in marketing for your small business.

  1. Connect With a Local Small Business Networking Group

Each city or community has a networking group of small business owners that get together and share ideas, share referrals, and build relationships with one another. By joining a networking group, you will be on the business owner’s mind when a customer asks where they should go to get a good or service. If you are an artist, a local boutique can recommend your custom paintings to buy for a frame from the shop.

  1. Schedule In “Me Time”

Self-care is the buzz word as of late, and for a good reason. If you don’t ever take the time to slow down and focus on yourself, it can be detrimental to your business. As a small business owner, your business will receive more attention to detail and love if you first take care of yourself.

  1. Learn a New Skill

In reading each New Year’s resolution, you may be overwhelmed where all the time is going to come from to fit all of these goals into your year. The time will come from the delegation and planning that you are also mastering this year. All jokes aside, expanding your small business may take further education or the introduction of a new product or service. To keep up in your small business industry, you must be in-the-know about what’s trendy.

If you own a nail salon, you will need to educate yourself about gel nails and the processes that come with them. If you have an e-commerce site with baby products, then stay up-to-date with the prints and textiles that are selling the quickest in the baby industry. This may come with learning a new stitching style or finding a new designer. Continual education and growth are vital as a small business owner.

  1. Get Involved in the Community

A great way to get your name out is to sponsor the local elementary school or a little league baseball team. You can attend the events and meet people who are interested in your service. A lot of times, people don’t know where to start when it comes to finding a realtor or an orthodontist. If they know your business invested in their child’s school, they will think of your business first when a need arises.

Donating and working with a charity is also a great way to improve your business. The most successful entrepreneurs spend a portion of their time volunteering to help people who are not as blessed as they are. Giving back will bond your team together as you regularly serve others and take the time to think outside of your business.

  1. Embrace Diversity

It’s an important question to ask if your small business team represents very similar demographics, whether it be age, race, or socioeconomic status. Surrounding yourself with people of different backgrounds and experiences will allow you to expand your customer base. Diverse ideas are vital in a small business – to learn from people who think of fresh concepts that are new to you.

  1. Build Up Your Reputation Always

In everything you do, do it with your reputation in mind. Even when you start out and are low on capital, choose quality over quantity. Do not take shortcuts. Handle all deals with integrity and honesty. Your small business reputation matters, and it’s a meaningful New Year’s resolution to make that a priority.

  1. Connect with Your Customers

A great way to bond with your customers is to send thank you notes for their business. You can do this at Christmastime, or you can sprinkle it throughout the year. Anytime you have a quiet moment, write out a thank you note to a valued customer and mail it to them or leave it to collect the next time they stop in. Phone calls can also be meaningful. Or even a quick text to check up on a new development in their life that they shared with you.

These subtle changes to your small business will help you achieve the ultimate goal: to spend less and earn more. When you put your heart into your business, you will reap great rewards. New Year’s resolutions like getting involved in the community and making time for yourself may not sound like they will directly benefit your company, but it’s all a part of the big picture. When you are happier and more well-rounded, your small business will expand.

Tips on Achieving Goals

Sometimes writing down your New Year’s resolutions is not enough. It would be best if you made a plan to implement and execute your goals.

  • Set Sensible Goals: All entrepreneurs have big ideas, but be careful to make your New Year’s resolutions attainable. When you set resolutions that are practical to achieve, your positive results will motivate you to keep working toward your goals.
  • Look at the Big Picture in the Far Future: Don’t forget to step back and think of your 5-year and 10-year plan for your business and make sure that your New Year’s resolutions are working toward those big picture goals. When your yearly goals align with your long-term goals, then your small business will always be headed in the right direction.
  • Do Not Settle: It can be tempting to work toward a goal, and then just before you reach it, you decide it’s close enough and never fully achieve what you were working toward. Everything you do must be intentional toward working to build your small business.
  • Embrace Setbacks and Move On: Sometimes, it can be best to throw out a New Year’s resolution once you realize it’s not benefiting your business in the way you thought it would. It is a good business practice to be able to recognize when a strategy isn’t working and move on.

Your New Year’s resolutions are achievable with hard work and planning. Big ideas are the first step to building a successful small business. But hard work goes hand-in-hand to help realize those ideas.

Make 2021 Your Best Year Yet

Get inspired and display your New Year’s resolutions front and center in your office. Remind yourself that this year can be the best year of your life as you grow your small business. Scaling a small business isn’t something that happens accidentally. Setting and keeping New Year’s resolutions will contribute to substantial growth in your small business.

For help in setting purposeful goals for your small business, you can contact Easier Accounting. Our team is here to help! With extensive experience with small businesses, our expert team will help your small business save money as it grows. Call us at (888) 620-0770.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

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