It’s that time of year again. As we count down the final days of 2015, most people are already fully entrenched in plans for 2016. While many of the resolutions you’ll hear being discussed focus on personal health and wellbeing, we encourage you to think about how you’re going to keep your business operating in tip-top shape.
To help you figure out which policies to prune and which procedures to perfect, we’ve created a list of five tips every business owner should resolve to incorporate into their plans for the new year.
- If it’s broken, either fix it or get rid of it.
Is there a an aspect of your business that’s holding your company back or not working as it should? Don’t start a new year by holding on to last year’s problems. If you’ve been battling a persistent problem for months on end, resolve to make finding a resolution your first priority of 2016.
- Get back to the core.
No one knows your company better than you. Make the most of the next few days to consider your products and service offerings. Have you expanded into areas outside of your wheelhouse or beyond your core? If so, take a hard look at what is working and what isn’t.
- Put your people first.
Your employees are arguably your business’ most vital asset. Make sure your employees know how much you value the work they put in every day, and do what you can to keep them engaged with your company. Reward your key people to motivate them and to demonstrate to them that you value their contributions to the organization.
- Invest in your business.
Just as businesses need to spend money to make money, sometimes you also need to spend money to save money. Investing in advanced technology or more automated office processes may save your company more money over time.
- Look for opportunities to improve profitability.
Even if you hit all of your revenue goals for this year, you should always be on the lookout for opportunities to improve your organization’s profitability. If you’re expending valuable resources on functions that aren’t efficient, it may be time to consider outsourcing them to a vendor that can manage it more efficiently or effectively than you could do so in-house.
Just like getting your body in shape takes willpower and resolve, getting your company in shape also takes discipline and determination. The process, however, can be energizing and exciting, and the results can ensure your company’s strength and long-term health. Get moving, and good luck!
Is your company making any New Year’s resolutions this year?
Let us know in the comments below!