New Year's Resolutions for Business

With the holidays around the corner many people are coming up with New Year’s resolutions, and let’s be honest, how often do they ever hold on to those promises? Most people say they will eat better or finally take the hanging clothes off the treadmill and actually use it; we all know that’s a front for the first few weeks and then they are back to their usual routine. Your business does not have to fall into these same scenarios. Let’s set up some resolutions for the New Year that aren’t difficult to achieve, because after all, you need them to help your business grow from average to something extraordinary.

Put Together a Prospect List

You have to be a hunter if you want your business to grow. When you sit around and wait for clients to make contact, you’ll be sitting around a lot more then you will be talking with people and engaging in deals. Put together a list of prospects you would like to speak with throughout the year. Just because they’re on your prospect list doesn’t mean they will do business with you immediately. You will have to sift through some lumps of coal before you find your golden star.

Get In Touch With Old Clients and Strike Up a Conversation

This is another channel of conversation, and a familiar one at that. After your deal is over with a client do you keep tabs on them often? If not, you should do so. They have contacts too; you’re not the only one. Striking up a conversation might remind them what you’re worth, and you might be able to fill a need with someone they know. Further, it also gives you a chance to understand things like why you haven’t heard back from them in a while or some of their thoughts on what could have been done better by your team. You can never have too many friends, acquaintances, business contacts, etc.

Attend Training Classes/Conferences - Consider New Ways to Learn the Business

You can always learn about a new method or practice in the business, and even if you don’t agree with the lesson, at least you know it exists and could be an option somewhere down the road. You know what else is at training classes and conferences? People! Who knows, you may end up meeting your next business partner there. It’s also a good way to escape the office atmosphere for a day!

Analyze Where You Could Have Eliminated Excess Spending

You may have to hire outside help for this, but in the long-term it can help you tremendously. Any time you can cut cost for your operation it’s a plus. If you can do this on your own, that’s even better – you’ve already cut cost!

Make Travel Plans to New Territories - Especially the “BRIC”

It’s beneficial to your company’s success if you can expand outside of your home-base area. The up-and-coming areas right now in the world are referred to as the “BRIC": Brazil, Russia, India, and China. I understand it may be difficult with your hectic schedule (and lack of frequent flyer miles) but if you take that brick-by-brick mentality, you may be able to hit all of those destinations in the near future. A teleconference call would even suffice.

Find New Technologies to Make Your Employees More Efficient

The world is always changing, but more importantly, it’s always being improved- mainly by technology. Each year, the newest technology jump-starts a company and puts them over the top. Why can’t you be that company this year? Just as I was saying earlier about waiting around for prospects to contact you, you are not going to find the latest technology by sitting around the office. You are the one that has to go out there and hunt for the opportunities that will make your business flourish.

Look for Funding/Outside Investors

So many companies are going this route nowadays, and it can absolutely turn your company from a standard to a top-notch corporation. You don’t necessarily have to go on Shark Tank to get your investment, but there are plenty of investors and a group like Kickstarter out there looking for the next big thing. Do your homework, research and due diligence to get the right people behind your idea!

I can guarantee that if you accomplish at least two or three of these goals, you will see an improvement in your company’s overall value. As I said in the beginning, it’s easy to give up on eating healthy or losing weight, but your company is far more important and valuable. Your mind should be running like the treadmill. Get rid of the hanging clothes and get it back up and running once again. You’ll accomplish one goal and then become even hungrier to accomplish more.