Not all New Year's resolutions have to be painful, especially those you resolve for your business in 2007. Keep a lighthearted approach; you'll have more fun and still be productive and prosperous.
Here's my 2007 annual business New Year's resolutions list:
Make more money. Let's face it, business is more enjoyable if you're making money. You can expand, hire more employees, get relief from financial stress and buy more cool stuff.Sit down and evaluate which activities bring you the most money and are the most profitable. Focus your energies on those. It almost certainly means you'll need to increase the percentage of your time devoted to making sales. It might also mean finding an additional sales channel or upping your advertising.
Increase your Web presence. If you don't have a Web site, get one. If you already have a Web site, learn how to increase the number of visitors to your site through search engine marketing/advertising or search engine optimization. Be a better boss. Being a good boss brings you many benefits. Your employees are more productive, the workplace is more enjoyable, and you get the very real satisfaction of knowing that you've created good jobs for your community. Make sure you are fairly compensating and rewarding your employees. Be sure to say thanks and acknowledge good work. Give employees the authority to use their brains and judgment, and the opportunity to keep learning.Lower your debt. This can be challenging, especially for a growing business. Try to negotiate better terms with your suppliers. Switch from high interest-rate credit cards to a line of credit at a bank. Pay off your highest interest-rate bills first. Go after late-paying customers. Watch your cash flow. When you make a big sale, use it to pay debt.Secure your data. We've learned how vulnerable businesses can be after Hurricane Katrina, the bombing of the World Trade Center, and floods, fires and earthquakes. Make certain you continually back up important data to a secure, off-site location.Write up contracts, agreements and a will. Many small-business owners operate their companies on handshakes and oral understandings. But what happens if something happens?Attend or exhibit at a trade show. Trade shows are extremely efficient ways to reach a large number of motivated and qualified prospects in one location at one time. To find a list of trade shows, check www.tsnn.com. Do something for the environment. Reduce energy consumption, including as part of your production and operation. Carpool, take public transportation, walk, or bike to work. (Those of you who work from home are already saving a lot of energy by not commuting.)Turn off lights; turn down the heat. Use recycled paper. Make a difference.
And have a happy and prosperous 2007.
Rhonda Abrams is the author of "Six-Week Start-Up" and "What Business Should I Start?" She can be reached at Rhonda@RhondaOnline.com
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