Making resolutions for the New Year is common on the personal front, but many who own small companies never consider making resolutions for theirs companies. Below are six resolutions for small business owners to bring success, both business and personal, in the new year.
1. Resolve to Delegate More
While it is true that a successful business owner has to be hands on, too much hands on results in burn out, which burns success to the ground. Find those areas that you are really not the best at, find those people that are the best at it, and delegate the tasks. This may mean leaving things to a store manager more often, outsourcing bookkeeping responsibilities, or simply hiring someone to do the cleaning. Whatever the case may be, you cannot — and should not — try to do everything.
2. Resolve to Stop Ignoring the Financials
There are business owners that are financially savvy, and there are those that are not so much. If you are of the latter variety, resolve to stop ignoring the financial statements. Whether they are stored in an QuickBooks or Excel document that you barely know how to use or thrown to the side when they arrive from the accountant each month, you need to pay attention. Figure out where and when you can get them, learn how to interpret them, and stay on top of them.
3. Resolve to Re-Evaluate Your Business Plan
Remember your startup days, when you had to write that document for the bank to lend you money? It was called a business plan, and you need to revisit it. Take a look at where you are in comparison to the plan, and consider if it needs to be tweaked. Your business plan is a blueprint to running your company. Don’t forget about it.
4. Resolve to Stick to the Plan
Once you have revisited your business plan, resolve to stick to it in the new year. This means you need to keep it front and center, re-visit it often, and make a plan to actually put into action what your business plan says. That’s right, make a plan to stick to it!
5. Resolve to Learn
There is always something to learn. Read relevant books, periodicals, and articles. Attend conferences that teach practically and conferences that motivate. Take a class either online or at a local college or small business center. Learning is a continual process.
6. Resolve to Grow
There is a time to grow, and it isn’t always. However, resolve in the new year to start paying attention so that when growth opportunities present themselves, you are ready to seize them.
Some of these resolutions will require financing, and for that, Biz2Credit has you covered. We offer an extensive network of lenders that offer various types of financing for all types of small business needs. Visit Biz2Credit.com today to find out more.