Failing to plan is planning to fail, and there's no better time to set your business goals than the new year.
Grab a pen, pour yourself a cuppa, and get ready to detail some achievable (and rewarding) objectives for your business in the year ahead.
Improve your online presence
Google is the go-to these days, and having a strong internet presence has never been more important. This can be achieved through SEO (search engine optimisation) as well as by having a comprehensive social media strategy.
- Set up Google My Business so that you're more likely to appear in local searches
- Invest in social media advertising to target potential customers
- Make your website mobile friendly – two-thirds of Britons use their mobile phone to browse the web
For a complete guide to setting up Google My Business, take a look at How to get your business on Google.
Boost your offline profile
Online marketing is a huge part of getting the word out there about your business, but the personal touch is still important.
- Offer incentives to customers for word-of-mouth referrals
- Attend monthly networking events to meet and mingle with potential clients and partners
- Look for small conferences or podcasts to speak on and set yourself up as an industry thought leader
Manage cash-flow more effectively
Reducing costs is a quick way to improve your bottom line, and keeping a close eye on money in and money out will help to secure your business' financial future.
- Conduct an audit to find out what’s costing your business most
- Build stronger relationships with suppliers; negotiate and buy in bulk
- Set up calendar reminders to invoice promptly, and to chase late payments
Improve your leadership skills
Whether you run a small team or are operating as a sole trader, you still need to have good leadership skills in order to take your business to the next level.
- Devise a clear vision for the business with SMART (specific, measurable, achievable, results-focused and time-bound) objectives for each quarter
- Delegate tasks whenever possible and trust your staff (or outsourced freelancer) to complete them effectively, offering constructive feedback when needed
- Work on your communication skills and make sure you maintain a good dialogue with your employees
Every business is different, and your plans should be tailored to your specific needs. Before stepping into the new year, conduct a SWOT (strength, weakness, opportunities, threats) analysis and work out your personal SMART objectives from there.
For more help to get your year off to the best possible start, take a look at the latest small business advice on Business Guardian Angel
