New Year- Business Resolutions!

The start of a New Year is the time for renewal and resolutions. As you head into the New Year consider using the time for reflection and resolution on your own business. What changes can you make as you head into the New Year? What key learnings did you take away from the previous year that can be implemented in the year ahead? Reflecting and imagining what the year ahead can be daunting, so here are some ideas on how to kick start business in the New Year.

Photo Credit Jeff Golden, Flickr

Revamp your Business Plan We aren't suggesting that you completely transform your business mandate, but you might want to take the time to look through your business plan and consider areas for improvement. What changes do you want to make to your business based on the last year's reflection? Are there aspects of your business plan that need amending based on the current economic climate or recent technological innovations? Revamping aspects of your business plan is a great way to start the year afresh. Also, revamping your business plan could lead to better funding opportunities. Many financial institutions or funding sources want a tight business plan in place before they release funding. Consider revamping your business plan as a potential financial reward! Set Target Goals Setting target goals at the start of a New Year is a great way to measure success. Consider dividing your goals into categories, such as Marketing, Social Media, Sales, Partnerships, etc. Identify specific criteria you wish to achieve under each category and attribute dates to each goal. Place these goals on a bulletin board, visible to the entire office. If you have employees consider having them sign up to be accountable for a target goal. This takes some of the responsibility off your shoulders and allows your team to take initiative in achieving the goals. Set rewards Ensuring that you have established rewards for employees and yourself after completing a target goal will sweeten the journey to achieving the goal. Each time a target goal is achieved consider how best to celebrate and make it known that achieving a goal is a success. Set aside a monthly accounting day Keeping track of the books can be tedious and painful, which is why so many small business owners hire accountants versus tackling the books themselves. To minimize the amount of stress created at year end, set aside one day each month for accounting and book keeping. Use this one day to either do the book keeping yourself or meet with your accountant. Regardless of how you choose to organize your time, ensure that you have the time to organize your business finances. Increase networking opportunities Make it a New Year's priority to increase your networking opportunities. Identify key events in your region that you feel are the best fit for your networking needs. Determine how best to use your time at the networking event. Will you concentrate on gaining more customers or will this be a partnership networking event? Each time you make a new contact, you are increasing your sales and business opportunity. Push your boundaries with new media Each year a new social media technology blooms and you probably wonder when and how you are going to find the time to figure out and understand how to use the new media to your advantage. Rather than tackling all of the new media strategies at once, choose one tool that you are interested in and make it your mission to utilize it in your business. Will you use Twitter? Will you set up a business Facebook page? Will you update your website? Regardless of what you do, do it well, and know that you are expanding your business and networking opportunities.