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6 Business Resolutions for the New Year

Here we are again, at the beginning of a new year. You have likely made some personal resolutions for the New Year: save money, drop 10 to 15 pounds, eat healthier, take that vacation, get outside more, etc. Personal resolutions are one thing, have you considered making a few business resolutions?

This year, take time to create some targeted resolutions to help you grow your company and increase your bottom line. Here are six potential business goals you can work toward this year.

Set goals

The first step to achieving success of any kind is setting manageable and measurable goals. When they say just 8 percent of people who set New Years resolutions achieve those goals, it’s likely because the other 92 percent aren’t setting realistically achievable goals.

First, your goals must be measurable. If your goal is to increase your total income, set an actual number you’d like to achieve rather than saying “I’d like to make more money this year.” How much more money? By when? Write down or type up your specific goals so you know exactly what you’re aiming for.

Next, make sure those goals are manageable. So you want to have a million dollar company; that’s a great goal! But is it realistic this year? Take a look at where you are with that objective and map out a realistic goal timeframe for that goal. The more realistic and manageable a goal is, the more likely you are to hit it.

Organize your finances

Last year, 53 percent of people’s number one New Year resolution was to save money. Getting your finances in order is equally important and beneficial for a business.

The first step to organizing your finances is to figure out what you’re bringing in versus what you’re spending. Track your spending on employees, materials, gas for your work vehicles, insurance and other business expenses—like employee lunches or bonuses, then compare that to what you’re bringing in from each job. Once you can see what your actual finances are, you can decide if you need to increase or cut spending somewhere and how best to manage your money.

If you haven’t been tracking your business expenses up to this point, it could take a few months to figure this out, but remember, these are your new year goals, not just your January goals. Part of making manageable goals is accepting that you won’t achieve them overnight and working toward progress every day.

Improve employee relationships

Another goal to help grow your business is improving your relationships with employees. Maybe you want to check in with them more often or help them learn new skills. This can mean many things to different people and businesses, so again, go back to making your goals measurable and manageable.

First think about what area of this objective is challenging or lacking. Then, check in with your employees to see what their goals are and work together to achieve them. Creating a measurable action plan for employees is a great way to improve performance.

When an employee understands what is expected of them and they feel their hard work is recognized, they’ll enjoy their jobs even more—helping you grow your business.

Add a new service

Constantly finding new customers is difficult. One way to grow your business and increase sales is to sell more to your existing customers. You can do this by adding new services to your business repertoire.

Offering lighting services can be a big money maker for landscapers. Including pest management to your turf maintenance services is a great add-on that will make your business an obvious choice for new and existing clients.

Ewing Education offers classes on these topics and more to help you include these add-on services to your business this year. Read how this landscaper added lighting services and grew his company.

Update your equipment

New year, new tools! If you’ve had the same equipment for years, it might be time to update or upgrade that multimeter. Now through February 28, you can save up to 30 percent on tools at Ewing when you buy in bulk. Find out more about Ewing’s Tools Program, here.

Also, check out this Ewing blog about similar tools that do different things, so you can be sure you’re stocked up on the proper tools.

Freshen up (or start) your website

Homeowners today start their search for landscaping and home improvement services online. If you don’t already have a company website, this year is the year to make one.

Having a business website gives you a platform to showcase your best work, it gives your business credibility and it makes your company searchable and easier to contact. If you want to grow your business this year and don’t yet have a website, creating a digital platform is a great place to start. There are a variety of services that can help you build a website, for more information, check out this Ewing blog.

If your website is already up and running, look it over and give it a refresh this year. Update the content, add photos of recent projects and include new services or certifications. Keeping your content fresh and up to date will make it that much more apparent that your business is reliable and professional.

While the beginning of the year is not the only time to work on improving your company, it does give you an opportunity to start fresh and achieve your goals. What are your business resolutions? Let us know in the comments below.

TAGS: Business Tips, Business Practices, new year resolutions, new year