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New Year’s resolutions to grow your business

Well done on making it through 2018! For most SMEs in this economic climate, that is quite the accomplishment.

No matter if the last year has been your best or worst, there is always room to improve your business. The end of the year is always a good time to look back on your successes and failures of the past 365 days and find new ways to improve on what you’ve already done.

Commit some time at the start of the year to work on some new years resolutions that will make your business better. Take a look at just a few things you should be considering to ensure you have more success in 2019.

Review and re-do your business plan

The start of the new year is a great time to go over a current version of your business plan and see whether the goals you set in 2018 are still in line with what you want to accomplish in the coming year. There’s a good chance that you’ll want to make a few changes based the analysis and results from the previous year, especially if it wasn’t a very fruitful one.

Your business plan is the guide for your small business. Reviewing and updating yearly will give you a clearer and more defined idea of what your priorities are and how to best achieve your goals in the coming year.

Consider growing your team

Your workforce can be one of the most important aspects of success in your small business. You may already have a good group of people around you, but with high efficiency comes an overall growth in your business, increasing the workload. Your staff may feel overwhelmed and overworked, so why not consider growing your team in the new year to spread the work around.

Bringing new employees onto your workforce can be expensive initially but if they are able to improve your business producibility and achieve further success in the following year, it might be worth investing in growing your team.

Improve your current marketing plan

Each year that passes brings new marketing trends for your business to consider implementing. We’ve already discussed improving your business plan, so don’t forget to update your marketing plan this year as well.

Take a look at your current analytics to see what’s working and what isn’t. You’ll likely want to change your current marketing campaign depending on if you’re spending your budget correctly or not. It might be time to get online if you haven’t already. Social media is an incredibly powerful tool and is also mostly cost free to run. Find which platforms suit your business and utilize that avenue to reach a whole new audience.

Have a happy new year

If your small business had a successful 2018, great! You can capitalise on this win and continue into the new year on a wave of positivity and growth. Commit to just a few resolutions that will strengthen the chinks in your armour, to make sure 2019 will be your best year yet.
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