What’s you business’s new years resolution? With the festive season drawing to a close, now’s the time to make plans to maximise your growth in the coming year. While every business will be different, we’ve made a bit of a list of some of the most popular new year’s resolutions for small business owners – maybe you’ll get a few ideas!
1) Support fellow small businesses
Every small business wants its customers to choose them over larger rivals, so why not apply this to your own business choices as well. Whenever possible, try to ‘downsize’ vendors and service providers, choosing small businesses rather than large companies. Always bear in mind the costs attached to this, but try to switch whenever it makes sense.
2) Go mobile, go local
These are two of the biggest trends for many small businesses. Sort out your website to deal with mobile internet enquiries, and optimise your search engine marketing. Equally, make sure you’re maximising the local element of your business – the web is an essential place not only to advertise local goods and services but also to build connections with the local community.
3) Learn how to delegate
When you’re just starting out with your business, you’ll be doing most if not all of the work. However, when you’re up and running, it can be worth handing over administrative or other tasks to other employees, assistants or contractors. Delegating efficiently frees up your time for the most important tasks – growing your business.
4) Sort out your invoicing procedures
Small businesses without dedicated finance departments often let invoicing slip – and this can create huge cash flow problems. Get a viable system in place; email and post invoices, and always follow up with a phone call. One of the most important things to do is to get invoices right the first time – if you don’t do this, you’ll simply be digging yourself a hole and creating late payment problems through your own negligence.
Whatever your business needs, make sure you plan ahead and get going on your new year’s resolution.