Hi, Helen here!
If you are anything like me, I plan new years resolutions for myself such as; I am going to eat healthier, be happier etc. and about two weeks later I have completely forgotten about these resolutions that I had created in desperation of making my life in the new year better. Yet, every year I make resolutions for my business and usually I succeed. I am not sure if this is because of my dedication to my work, or the fact that I enjoy what I do. Anyhow, I have decided to share with you my top six priorities for that could be classed as new year resolutions for you business! 1. Review your business plan!
One of the most important requirements of a small business owner, like myself is having a business plan. Now, be assured this isn't one that is in my head or scribbled on the back of a scrap piece of paper. This is a proper, well thought out plan of my businesses year. Sometimes, it isn't a full year - just 6 months. Still, it is important to have this so you don't get lost or left behind in the beginning of the new year as your competitors are racing ahead of you with their year already planned.
Now, while this resolution for an entrepreneur might seem simple - the tricky part is keeping it up to date throughout the whole year. If it is kept in a draw in the study, every now and again take it out and blow the dust of it and review what you have planned and update it accordingly. Without a business plan, your business is rudderless; isn't getting any direction. Without a rudder, you run the risk of not focusing on the key activities that need to be undertaken to bring your success.
2. Crunch the numbers!
People often forget about the numbers because it isn't their strong suit, in small companies without dedicated in-house accounting this can result to a number of serious problems. You can't measure what you don't measure! It is important to revisit the numbers and fundamentals that are vital to your performance and well-being of the business.
Also, it is important to brush up on topics such as;- Break-even Point
- Profit Margins (Gross and Net)
- Cash Flow Forecasts
- Profit and Loss
- Sales Forecasts
- Costs of Sales
The list really does go on and on. It is a tempting thing to delegate the maths to others however you need to understand these concepts and your numbers to know what is happening in your business!
3. Make your website current!
in 2014, or 2015 even media coverage is a make or break for your business. Most businesses have a webpage, but do they keep it up to date? I know for myself, it is challenging to keep everyone posted through my website with the current updates or programs and it hard to find time to do it sometimes. But! It is an important aspect of your business and will ultimately get you more customers!
If you haven't made changes to your website, I encourage you go and do that. Even if it is updating the photos or making a new post! I then say, go and mark specific dates in your diary or calendar to remind you that on that day you are going to spend one hour or so updating your website to make it current! There is nothing worse than going onto a website for a potential business that you are interested thing and everything is a year, or even months old.
4. Read a business book!
Although us entrepreneurs are busy people, setting aside the time to sit down and read a particular book in a specific area of your business that you want to improve on can really help you do just that! I have a campaign on my Facebook page called "Books On Helen's Shelf" which I regularly update with books that have given me good insight and knowledge about particular areas of business that I struggled in. So go and check them out on my Facebook page if you are struggling to find a book that will help you.5. Become involved in Business Coaching programs.
Constantly my clients are telling me that signing up to which ever program they did really helped them in all aspects of their business. I run many various types of programs that help benefit you in many areas:- Beyond Networking: Its like having your own mini board of directors. Everyone talks about the issues they are facing in their business, or new ideas that they have and we give them feedback.
- 7am Pick Me Up Breakfast: A networking breakfasts with new business owners coming in each week. The 7am Brekky gives you the opportunity to sell your business while meeting like minded business people in a fun, social environment.
- One-on-One Coaching: A great way to create a more personal experience and ask myself the nitty gritty questions!
- The Bean Counter: If you need help with the maths side of your business and want to know how to understand the numbers, then this is the program for you!
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