Not all New Year’s resolutions need to be about giving up Starbucks, walking more or curbing your spending. January 1, provides you a great opportunity, to sit back, reflect and decide where you want to take your business. Here are 10 resolutions that you can adopt to push your business forward for growth in 2015.
- I Will Decide How to Grow My Business. A business growth strategy is a personal decision. Whether it’s diversifying your market, creating a new product line or service, or acquiring a new business, you need to create a plan. Your first task is to do your market research and find out where the opportunities lie. Then use that data to decide how much money, time and resources you’re willing to invest in achieving those opportunities.
- I Will Make My Business Loan-Ready. No matter how you want to grow your business, it is likely you will need financing. So now is the time to work with your accountant and make sure you have a strong business plan, a good credit score, that your accounts are in order, and that you know where all your money is going. No matter if your financing is coming from, it is important to know where your business is now and how this new money will be accounted for.
- I Will Update My Technology. Take a look at your common processes: order taking, customer tracking, customer communications, accounting. See if there are efficiency to made, and look for a suitable technology. There are many products that can help automate your processes, now is time to evaluate if they will be as cost efficient as time efficient. And remember to make decisions based on where you want the business to be, not where it is right now, otherwise you will be making another large investment in the future.
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