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New Year’s Resolutions for Your Business
The end of the old year and the beginning of a new one is always a time for reflection. It’s a time to take stock, look back on the highs and lows of the past twelve months and formulate a plan for the year ahead. And this holds true in business, as well as in our personal lives. Making a plan for 2018? Read on for some business resolutions to make this year your most successful ever.
Look Back Before You Look Forward
In order to get your business off on the best foot in the New Year, you need to understand what worked – and what didn’t – in the previous 12 months. Take some time at the beginning of January to review your business growth. Are you achieving the goals you originally set out to achieve with the company? Perhaps your overall business plan needs to be revised based on new factors that have come into play in the market. What are the emerging trends in your industry? New competitors may have appeared, technological advances may be imminent that can improve your product or even increase efficiency within your company. Are your costs manageable? Examine all your outgoings and see where you can make savings and increase efficiency.
Revamp Your Digital Offering
With the day-to-day running of the business a priority, a company’s digital offering can often fall by the wayside and become neglected. This year, why not take time to review your online and social media presence and examine ways in which you could make it more effective. Digital publishing and e-commerce platforms are constantly changing, and if you fail to keep pace with advances you could be losing out on important sources of publicity and revenue for your business. Perhaps you started off with grand plans for your digital offering and have neglected it in recent years. Now is the time to review your presence and see where it can be refined, revamped and improved.
Learn to Let Go
As a business owner, it can often be difficult to hand over control of something you’ve worked so hard to build up over the months and years. But to truly take your business to the next level, you need to learn to delegate less essential functions to trusted employees. If you’re feeling overloaded with work and find you have no time to focus on growing your business, it's time to redirect your energy to the areas where you can be most effective. This New Year, learn to let go of the minor tasks that are taking up too much of your time and you’ll be healthier and happier – and so will your employees.
Improve Your Networking Skills
Good contacts can turn a moderately successful business into a thriving one. In 2018, why not try and improve your networking skills and broaden your circle of fellow business owners? This isn’t just a great way to get advice on almost any aspect of running your business, it’s also a way of finding new suppliers and customers, and a fantastic place to turn when things aren’t going completely to plan. Do some research on business networking events or organisations in your area and make a resolution to attend at least one local event in January.
Take More Time to Disconnect
When you’re running a business every day, it’s hard to find time to switch off. You’re so caught up in running your company that you forget to take time to rest, relax and enjoy the success you’ve achieved. In the New Year, set out some designated disconnect days on which you go and do something completely unrelated to the business and have some fun. This could involve taking up a new hobby, going on a weekend break, or simply spending more time with your family. If you really take time to recharge your batteries you’ll come back less stressed, more focused and ready to enjoy working for yourself again.
Need Help with Your Business?
If you want to make 2018 your most successful year ever, we can help. Make an appointment to speak to your AIB Business Customer Advisor today.
Please be aware that all of the views expressed in this Blog are purely the personal views of the authors and commentators (including those working for AIB as members of the AIB website team or in any other capacity) and are based on their personal experiences and knowledge at the time of writing.
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