Ever wondered how to write New Year’s resolutions for your business? It’s not the most obvious thing to do; they seem far more suited to our personal lives, after all.
However, New Year’s resolutions for business owners are becoming an increasingly common way to ensure companies are always striving for constant improvement and ways to reach the goals they set.
When you think about it, it’s no different to a personal new year’s resolution. Whether you decide to join the gym, stop eating so much chocolate or see your friends more, resolutions are goals we set that are designed to improve our way of life, make us healthier and, above all, increase our levels of happiness.
Transpose that to a business setting, and those goals could be a whole number of things that will keep the business profitable, help it grow and, above all, ensure its staff and customers are as happy as they should be.
The tough thing, as we all know, is how to keep new year’s resolutions, and it’s no different when they’re intended for your business.
So, whether you’re reading this at the start of the year or towards the end of the festive period and feel the desire to create some New Year’s resolutions for your business, here’s how to do it effectively, courtesy of the team at RH Nuttall
Think about your marketing first
Next year, you want more customers, and you want them to pay you as much per head for your products and services as possible. This is how companies make a profit and grow sustainably, after all.
To do this, you need to promote your business, and while this might sound like a back-to-basics lesson, it’s simply a reminder that if you’re wondering how to set new year’s resolutions for your business, you need to focus on the absolute basics to begin with.
The best way to do this is to break down the marketing goals you’d like to achieve into more manageable chunks. For instance, you may simply want to start writing blogs more regularly, or experiment more wholesomely with some social media marketing. Whatever it is, make it achievable and not too lofty – because if it is, you’ll never get round to it.
…then think about your sales
“I want to sell more” isn’t much of a new year’s resolution for your business, and if you’re wondering how to keep new year’s resolutions for the company, you need to get a bit more specific about what ‘more sales’ means to you.
There are very few businesses that don’t consider sales as one of the top things during an end-of-year review, but when put in the context of a resolution, it’s rather different.
So, you want to increase sales – that’s normal, but to do that you could try a number of tactics:
- A price increase (tricky, but it might work if you’re lagging behind the competition on that front and have a particularly loyal customer base)
- Reduced costs (remember – turnover for vanity, profit for sanity; if you can reduce how much it costs to make a product, you’ll make more money)
- New product lines (what is your market crying out for that you don’t currently offer?)
- New marketing strategies (see our first tip, above)
- New manufacturing processes. For instance, by implementing the Kaizen principle you could increase output and sell more!
Look at the competition, too. Are they getting their sales from somewhere you aren’t? Are they offering something that you don’t have in your product offer?
Just like the marketing new year’s resolution, break this one up into small, manageable chunks.
Get better at delegation
Have you spent a significant amount of time this year doing things yourself when you know, deep down, that they could – and should – be undertaken by someone else?
Then, you need to get better at delegation!
Whether you’re a small business owner or in charge of a big multinational, you probably wear many different hats. And that’s fine, but if those hats begin to weigh you down too much, you’re clearly taking too much on.
Before setting your resolutions, sit down and work out what tasks you know you should be delegating, then make a promise to yourself that you’ll start to distribute them evenly and fairly among the people who, if you’re honest, are far better positioned (and, sometimes, skilled) to do them for you.
Become even better friends with your customers
When considering how to write new year’s resolutions from a personal perspective, many of us focus on friends and the things that keep us from seeing them as often as we perhaps should.
The same goes for your customers. How often do you keep in touch with them? Are you as close to your customers as you should be?
If the answer to those questions is “not very often”, and “no”, you’re not alone; keeping in touch with customers regularly is tricky when there’s so much more going on.
Next year, try and become better friends with customers than you’ve ever been before. Promise yourself you’ll send them surveys, see them in person whenever you can and scheduled regular catch-ups on the phone.
If you’re wondering how to stick to your new year’s resolutions, this one will become rather addictive as your customers become further wedded to your brand and increase their advocacy.
Become more productive
That’s a lofty one, eh? And when working out how to keep new year’s resolutions, the ones you set for your business that are the most ambitious are those that fail most often.
The good news is you can break this particular one down into much smaller, more achievable chunks. You don’t have to work every hour god sends, and if you’re doing that, make it a promise to yourself that you won’t next year.
If you and your colleagues don’t work from a to-do list, start making it a company mantra. Make it a resolution to catch-up with colleagues regularly to find out how you’re all spending your days.
Make productivity something that is built into the heart of the company next year!
You no longer need to worry about how to stick to your new year’s resolutions – our tips above will help your business have a more successful, productive and profitable year than ever before.