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Find Greater Success: 7 Small Business Resolutions for 2015

By: Megan Totka

 

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January is the start of a bright and shiny New Year, and a time when we are overflowing with motivation to make this year the best one yet. Small businesses everywhere are working hard to find increased success and diligently striving to create a great plan for 2015. To go along with your powerful business plans for the New Year, it’s important to set some goals. Only about 8 percent of Americans stick to their New Year’s resolutions, so make yours small and celebrate every success to give your resolutions a fighting chance. Take a look at these seven business resolutions for small business owners and entrepreneurs everywhere.

 
 
Concentrate on Recurring Revenue
 
You are probably ecstatic to bring in any income, but keep in mind that some customers contribute considerably more than others to the long-term financial well-being of your business. In order to succeed, it’s important to know what people want. Make sure you get to know your customers and focus on the ones who have the need and capacity to buy from your business repeatedly over those that will make just a single purchase.
 
Hire Some Help
 
Your business may not be growing as you had anticipated because you have too much on your plate.  It is tough to find hardworking and trustworthy employees and contractors, but high quality workers can help you cultivate your business. Take a look at your operation of routine tasks that swallow a lot of your time, and find areas of business growth that necessitate outside expertise to achieve. 
 
Don’t Stop Learning
 
Enroll in classes. Watch instructional videos. Read books. Attend workshops and conferences. Your business relies on your brain, so continue to expand what you learn. The world is constantly evolving, technology is improving and your industry is changing—so make sure you know what is happening so you can continuously develop and improve your skill set.
 
Plan Your Time
 
Each morning, sit down and make a plan for your time. Check your to-do list frequently throughout the workday. Make sure it is reasonable and achievable. Use a project management tool to stay on top of your task list. Tools such as Asana or Basecamp can help you track your tasks, and also monitor the progress of your staff.
 
Check Your Financial Statements Consistently
 
For small business owners and entrepreneurs, it’s easy to avoid looking too deeply into financial reports.  However, it’s essential to delve into reports that keep you in the know on your businesses profits and losses, cash flow and receivable and payable accounts. Every week, select a day to spend some time reviewing your financial statements. 
 
Take Care of Yourself
 
Health is the foundation of all of our other endeavors. If your body and mind aren’t healthy, then you won’t have the capability to accomplish business success. Make sure you schedule adequate time to exercise, eat well and get enough rest. These are business necessities—not personal indulgences. 
 
Put Away Your Electronic Devices
 
Studies show that screen use before bed can negatively impact your sleep. Using an iPad, e-reader, laptop, smartphone and even some television time before bedtime can make it more difficult to fall asleep at night—and reading on a screen impacts how tired and alert you are the following day. You need your rest, so put the screens down well before you are ready to head to bed.
 
On your quest to reach success, it’s important to set small goals to help your business reach its potential.  Reflect and celebrate the resolutions your business reaches, and don’t give up on the resolutions that are a challenge to reach. 
 
Wishing you and your small business prosperity and health in 2015. 
 
What other business resolutions would you add to our list?
Published: January 12, 2015
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Megan Totka

Megan Totka is the Chief Editor for ChamberofCommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. She specializes on the topic of small business tips and resources and business news. Megan has several years of experience on the topics of small business marketing, copywriting, SEO, online conversions and social media. Megan spends much of her time establishing new relationships for ChamberofCommerce.com, publishing weekly newsletters educating small business on the importance of web presence, and contributing to a number of publications on the web. Megan can be reached at megan@chamberofcommerce.com.

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