5 impactful business resolutions that will change your small business
Your New Year’s resolution doesn’t always have to be a personal one.
More small business owners are implementing the common top-of-the-year practice.
In fact, according to a recent survey conducted by the National Federation of Independent Business, nearly one-third of small business owners make New Year's resolutions.
Sure, you can call them “business goals.” But what’s the fun in that?
Business resolutions can take many forms, from specific financial goals to more general aspirations such as improving customer service or increasing employee satisfaction. Making business resolutions can be a useful way for businesses to focus their efforts and set a direction for the future.
So, why might a CEO or small business owner consider making a business resolution?
To set clear goals. A business resolution helps to define what a business is working towards, which can make it easier to set priorities and allocate resources.
To drive change. A business resolution can be a way to initiate change within an organization. For example, a CEO might make a resolution to improve customer service, which could lead to changes in processes, training, and management practices.
To stay competitive. By setting and working towards specific goals, a business can stay competitive and adapt to changing market conditions.
To improve performance. A business resolution can be a way to measure progress and hold the organization accountable for achieving its goals. This can help to improve overall performance and drive success.
To motivate and engage employees. When employees understand the goals and direction of the business, they may be more motivated and engaged in their work. A business resolution can help to align employee efforts with the overall goals of the organization.
5 IMPACTFUL BUSINESS RESOLUTIONS THAT WILL CHANGE YOUR SMALL BUSINESS
Now for the 5 most impactful business resolutions that could change your small business for the better…
Increase profitability: This is likely a top priority for most CEOs. There are many ways to increase profitability, such as cutting costs, increasing efficiency, and expanding into new markets.
Grow the business: Many CEOs want to see their businesses expand and take on new opportunities. This might involve entering new markets, launching new products or services, or acquiring other businesses.
Develop a strong company culture: A positive company culture can lead to increased employee satisfaction, which can in turn lead to improved productivity and profitability. CEO's might resolve to focus on building and maintaining a strong company culture.
Foster innovation: Encouraging and supporting a culture of innovation can help a business stay ahead of the competition. CEOs might resolve to dedicate more resources to research and development or create an environment that promotes creative thinking.
Improve work-life balance: Many CEOs struggle to strike a balance between their professional and personal lives. Resolving to prioritize work-life balance can help a CEO be more effective in both areas. This might involve setting boundaries, delegating tasks, and making time for personal pursuits.