It’s that time of year again – time to make New Year’s resolutions. Isn’t it motivating to start off with a clean slate and lofty goals to make changes for the better? However, most of us fail miserably at sticking to our commitments. Why? Typically, we’re overly ambitious in our goal-setting and as a result, become discouraged and eventually give up.
This year as you resolve to achieve specific goals in your business, remember 2010 is going to be a challenging year. The follow tips are meant to help you make resolutions that will work for you and your business.
- Be Realistic and Practical. Tripling your revenue sounds great, but is it realistic? What can you truly accomplish in the upcoming year? Perhaps, maintaining your current level of revenue is a better goal in light of the current economy. Take a look at what worked and what didn’t last year. Focus your energy on the strategies that produced the best results. Even if you think with just a little more effort a particular business initiative will work, table it for now. When the economy picks up, you can revisit it then.
- Be Open to New Technology. Embrace new technology in your business. Technology can help your company become more productive and profitable. Utilizing new technologies can also be a cost-effective way to market your business. Review your current web strategy and web site.
- Be Willing to Get the Help You Need. Running a business is tough in the best economic conditions. In the current recessionary economy, successful business management is even more challenging and you aren’t going to have all the answers. Don’t wait until it’s too late, resolve to get the assistance you need, when you need it.
- Be Frugal. Resolve to be cautious about managing cash flow. Look for areas where you can cut costs without impacting service. Review all vendor pricing and compare with other providers. Incorporate green business strategies. Going green is not only good for the environment, but it’s also good for your bottom line.
- Be Personal. Don’t forget about you. A down economy places additional stress on business owners, personally and professionally. Make taking care of your personal health a priority this year.
Whatever resolutions you make this year, write them down and put them where they are easily available. Check your progress periodically. Hopefully, at the end of the year, you’ll have successfully accomplished your goals. Here’s to a happy and prosperous New Year.