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5 New Year’s Resolutions for Your Small Business

By: Brittany Engelmann-- 2016-12-07 7:00 am --

The new year is less than a month away, and many people are already planning their New Year’s resolutions. With vows to exercise more, eat healthier, and volunteer their time, people across the world are wracking their brains for ways to improve upon themselves in the coming year. But it’s not just individuals who benefit from such resolutions. Businesses can, and should, make New Year’s resolutions as well, so you can map out goals for your company in the coming year and continue down the road to success. Here are some of the top New Year’s resolutions that every small business should adopt.

  1. Don’t be afraid to delegate.

Small business owners often have too much on their plate, and they are constantly jumping from one task to the next. Not only will this result in burn-out for the business owner, but it may result in sloppy work as well. Never be afraid to delegate tasks to your employees, assigning each a list of dedicated roles that they can master over time. In turn, people can achieve a higher level of focus and efficiency with each task, thus streamlining business while improving results. This coming year, resolve to cut yourself a break by delegating some of your workload to your top talent.

  1. Meet new people.

Business success is all about networking, but networking is often neglected by business owners. In 2017, vow to expand your horizons by branching out, attending networking events, and connecting with as many new people as possible.

  1. Learn new skills.

The new year is the prime opportunity to devote yourself to your studies and learn a new skill. Whether you choose to learn a skill directly related to your business, or another skill entirely, it can help to diversify your knowledge base and make you more effective in your leadership. Create a list of interests or skills you’ve wanted to pursue, and chisel out some time in your schedule to devote to mastering your new hobby.

4. Take more risks.

Does your small business take risks? Many small business owners shy away from risk-taking, as they worry they have too much to lose. However, strategic risk-taking is imperative for business growth. In an interview with The Grindstone, Pamela Barnes, the President and CEO of EngenderHealth, said, “Until we are willing to put ourselves out there and take a risk, we will never be able to achieve professional success and realize our potential.”

Business risks are essential to learning and growing as a company. By taking strategic risks, businesses can learn more about how their company operates, they can grow both internally and externally, they can stand out to consumers and investors alike, and they can access new opportunities that may have otherwise been unavailable. Keep in mind, however, that all risks should still be calculated and pursued in confidence. Needless risk-taking can damage a company far more than help it.

  1. Don’t be afraid to gain a fresh start.

In the process of embracing the new, sometimes we have to break ties with the old. If any aspect of your current business plan has held you back in the previous year, resolve to cut ties with your former policies and forge ahead with a fresh start. Rid yourself of slow-selling products, hire only the freshest new talent, and partner alongside the best suppliers. To truly excel in the new year, you need to be willing to abandon all sinking ships and only move forward with the most promising aspects of your business.

If your business is struggling with inefficient or unreliable suppliers, resolve to partner with a new supplier in 2017. At DollarDays, we work alongside small businesses to help them find the products they need at the prices that work for them. Move into the new year with the best business partners by your side. Visit our website to learn more.