New Year’s Resolutions for Your Business
December 21, 2021

This year I really intend to stick to my New Year’s resolutions. Everyone knows the end of the year is the perfect time to re-evaluate and look ahead, in both your professional and personal life. Keeping to our goals through the entire year can be difficult. But in this uncertain business climate heading into 2013, business leaders need to firmly commit to their resolutions and plans this year.

For many business owners, even developing those plans is fraught with fear and anxiety. Whether it’s because of ongoing economic uncertainty, the fiscal cliff or just general pressures, businesses large and small are trying to figure out the right plan. Here are some new twists on old resolutions that I’m offering to break out of the bottom line doldrums and experience a happier and more profitable new year.

  1. Lose Weight: Most businesses have already trimmed costs and reduced inefficiencies, but there may still be more to do.  Do you have customers who don’t pay on time? A disgruntled worker who is hurting morale?  Complaints about your systems, delivery or process?  Pinpoint what is weighing you down and trim the fat.  Lighter businesses will win in 2013.
  2. Quit Smoking: Clear the air with accurate and concise communication with investors, employees and customers.  Face reality. Be more specific about finding a distinctive value proposition for your customers because chances are, it has changed over time.  Create a clear, authentic and compelling sales story that represents the heart of your business and why you are unique.
  3. Nurture Friendships: Every business has certain centers of influence that can help with strategic advice, recruiting, networking and sales prospecting.  Don’t wait for a yearly trade show.  Connect with key contacts regularly through blogs, webinars, Facebook, LinkedIn, Twitter and other avenues. It is critical to take advantage of every networking opportunity.  These touch points could lead to strategic partnerships and alliances that round out your value proposition.
  4. Read More: With more information available, it is more important than ever to stay current on industry trends.  Don’t get bogged down by information overload. Start by creating helpful and immediate links to prioritize key sources and streamline your reading list.  It’s as easy as setting up Google alerts and reading blogs from industry thought leaders.  That way you won’t just be reading more — you’ll be getting more value.
  5. Get in Shape: Your quarterly revenues may be strong, but there may be some hidden hazards that could impact your long-term business health. It’s time to look at more than just sales figures and get into tip-top regulatory shape. Regulators are like doctors. Follow their instructions and your business will be healthier for it. Ignore them and you’ll be forced to deal with the consequences.
  6. Run a Marathon: Building a successful business is no longer a sprint, it’s a marathon.  Do you have a succession plan? How about a plan for three, five and ten years down the line? Pace yourself so you’ll have enough in reserve for a strong kick at the tape. Many enter, but few will finish.

These are some resolutions that I’ve come up with, but I’m sure you can think of others that would help improve your business. My hope is that you and your company have a happy, healthy and profitable 2013.

Thanks for stopping by.

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