8 Small Business Resolutions for 2023
1. Hire a business mentor and a strategy coach.
Stop thinking you have all the answers. Start
by hiring a qualified mentor, coach, consultant. If you did, your business would be further along
in your business. I don't know about you but if I am going to ask for
business advice, I would not ask someone who knows
nothing about being a successful business owner. You friends and family may
mean well however, business is business, and, in the
end, your well-meaning friends will not be there to pay your
bills. Do yourself a favor, save yourself from the agony of disappointment,
wasting money and business failure hire a reputable mentor and / or a business
coach that you know.
2. Re-evaluate the Business Plan
Stop moving blindly through your business without
a vision of where your business is
headed. Start by taking a hard look at your business plan to see if it
still reflects what you are doing in your business. If it does not then now
might be a good time to re-evaluate where you are going with your business, or
your change the plan for your business. If you don't have a business plan now
is a good time to create one.
3. Eliminate Unnecessary Expenses
Stop paying too much. Start to review your business expenses, negotiate with vendors, suppliers, shop
around for the best prices. Shop fixed expenses too. For example, move
your office to home, change staff to virtual, phone plans, insurance all need
to be re-evaluated. Talk with others in your field that have more experience
than you do and ask for advice, connection and resources.
4. Evaluate Your Marketing Efforts and Adjust Accordingly
Stop marketing to where your customers and potential customers
are not. Start evaluating what you are doing and looking
for ways to improve your marketing. Look at what's working and what's not. Make
it a priority to explore channels you've ignored in the past. Speak with a
mentor, consultant or business coach who can help get you on the right track.
Join networking groups once or twice a month that provide fresh business
contacts, resources, are inclusive and inspiring.
5. Stand by Your Word - Integrity
Stop saying you can deliver on a promise when you cannot. Start being in integrity. Integrity is standing by
your word. Doing what you say you will, when and how you said you would do it.
This applies to your business too. The quickest way to enhance your business
reputation, attract new customers, improve employee loyalty is to
have integrity in every action you take. Businesses with
high integrity have the highest bottom line and financial
performance.
6. Become Process Oriented with Follow-up
Stop “ghosting” your clients, customers and those who can bring
you business. Start a process which is a way of doing things to
solve a problem. For example, follow up. Create a check list, get an app,
software program that helps you keep track of why you need to return phone
calls, emails and text messages and to remind you of your next step. By putting
into place, a procedure, a system / process in you will feel more confident and
act in a more deliberate way following up with clients, customers and even your
friends. Whether it’s on purpose or accidental poor follow up is a sign of bad
business management. Plus, you will be seen as the business professional you
are.
7. Create a New Revenue Stream
Stop depending on one source of income. Start by adding more ways to generate income. One of
the biggest mistakes a small business makes is having only one way to make
money. The problem with only one way is if the demand for that item goes away,
so does your business. A smart move would be to have several streams of income,
a new product, services, channel of delivery or territory. The more
streams of income your business has the more resilient and able to endure
financial difficulties as they occur.
8. Celebrate More
Stop ignoring your accomplishments. Start celebrating the small and the big wins. Why? Little wins add up to big wins.
Acknowledging and commemorating the little victories will help you to maintain
inspiration and guarantee your resolutions will stay in the forefront of your
business.
May 2023 like every year bring lessons learned from 2022, erase what needs to be left in the past, bring forward a fresh start, a newness, and a breath of fresh air of magical inspiration to your business into the 2023 new year.
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