It’s that time of the year again. The time when people are setting their resolutions for the new year. But have you ever thought about setting new year’s resolutions for your business? In this blog, we’ll talk about the importance of setting resolutions for your business and six to consider for 2022.
Why Should I Set New Year’s Resolutions For Business?
Before we get started with the resolutions let’s start off with why you should set some new year’s resolutions for your business in the first place. Why is it important? Businesses need to have a plan for the upcoming year along with goals and milestones. By having these new years resolutions in place it will help you set priorities throughout the year, keep your business on track with what is important, and give yourself direction when needed or if things get tough.
Here are six resolutions you and your business can consider in the new year:
Update Your Business Plan
When you need direction, a solid business plan may be a map to success. It can assist you in keeping organized and on track. A business plan may also be used to illustrate the value of your company to outside parties if you decide to seek an investor, take a business loan, or bring in a new partner.
In other words, a business plan is critical for your company’s success and direction. However, it isn’t intended to be a one-time document. We’re willing to wager that your business has evolved since the time you created your business plan. Now is a fantastic time to revisit it and update your strategy with the most up-to-date financials, objectives, competition study, marketing concepts, and more in order for your company to flourish in 2022.
Learn to Be Okay with Outsourcing
Outsourcing is a fantastic way to free up time for you and your employees so they can focus on what’s most important. This isn’t something that should be taken lightly. There are potential risks involved with outsourcing too much work or outsourcing to a non-reputable company. Anyone who is used to being in full command of their small business may be a little hesitant by a resolution of this regard. When things are still new, many entrepreneurs are in command of every operation, making it difficult to let go and entrust the running of their company to someone else. But, there are only so many hours in the day and if you want to grow your business, it involves hiring others or outsourcing where able.
When it comes time to outsource, consider what tasks you struggle with the most. Do creative assignments like marketing campaigns keep you up at night? Are you uncertain if you’re managing your financial accounts correctly? Do you spend way too much time on small administrative tasks that an assistant or software could handle? Your time as a business owner is valuable, so consider hiring some extra help or investing in digital tools to free up your schedule.
Refresh Your Marketing Efforts
You should also critique your marketing plan in the same manner as your business plan. What did you like about your business’s performance last year? What didn’t work as well? Where did your marketing budget go the furthest? For you, which channels were the most successful?
Now that you’ve identified what marketing efforts helped your business the most last year, and which didn’t make as much of an impact, you can update your marketing plan with your insight and knowledge. The goal of your new strategy should be to eliminate everything that isn’t working and to focus on what’s working best for your company. We encourage you to add in new strategies as well. This will help dictate where your marketing budget should go in 2022 so you get the biggest return on your investment.
Look for Automation Opportunities
Small business owners and business owners in general often have a very lengthy to-do list. In 2022, consider looking at automation opportunities to improve the flow of your business operations. Automation opportunities can range from something as simple as using a digital assistant to help with bookkeeping and accounting, to automating emails.
If you’re feeling overwhelmed at the thought of automation opportunities, start small. Evaluate one process in your business and search for ways to automate it. Once that’s running smoothly, move on to another task or process.
Identify Customer Service Missteps
Small businesses should be providing excellent customer service to both new customers and repeat customers alike. This is one of the easiest ways to set your business apart from your competition. However, we realize that not all businesses operate in the same manner when it comes to customer service. In fact, some businesses may not even have a solid customer service plan or policy in place.
If you’re unsure where to start with improving your customer service, take a look at what other companies are doing and see if there’s anything you can adapt for your own company. Are customers complaining about long wait times on the phone? Perhaps consider implementing online chat support so customers don’t have to wait on hold. Do you often receive negative reviews because of product shipping times? See if there’s anything you can do to speed the process without sacrificing quality.
Update Your Brand
Small business owners should also think about refreshing their branding. If you have an outdated logo or other brand elements, this is the perfect time to refine your company’s image and create something that better represents your business in 2022.
Brand development often has different stages for companies at any given point of growth. However, it should always be an ongoing process because businesses grow and change over time. The more up-to-date your branding is, the easier it will be to market yourself online and increase conversions on all digital channels!
What New Year’s Resolutions Will You Implement For Your Small Business?
What are your company goals this year? Are you looking to improve your search engine optimization? Rebrand your digital marketing efforts? Perhaps you’re looking to improve employee engagement, make better business decisions, or try new tools and innovative ways to handle previous tasks. No matter what you’re looking for in the new year, we hope you’re able to hit the ground running this month. If you need assistance, we have the team and tools to help improve your digital marketing strategy and website design. Contact us today to discuss your goals for the new year and let’s see how we can help you!