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Category: Business Tips

Planning Your Summer Marketing Efforts Part 2: Celebrating Holidays & Events

itius.  Altius.  Fortius.  Faster, higher, stronger – the Olympic motto will be heard often this summer and can be applied to small business marketing, as well as athletic endeavors.  Share in the excitement surrounding this summer’s holidays and events to add some inexpensive pizazz to your marketing efforts. Here are few important dates and tips as you plan your summer marketing strategy:

  1. Be Patriotic: Memorial Day 5/30 & Independence Day 7/4.  Fly the red, white and blue to celebrate the patriotic days of summer.  Did you know that the 4th of July is #4 on the list of holidays most celebrated in the U.S.A? (Right after Christmas, Halloween, and Thanksgiving.) Run promotions and sales of products and services that correspond to these holidays and wish customers a happy holiday on social media as these posts are well-liked and shared.
  2. #Olympics2016. Get ready to cheer August 5-21 – the Summer Olympics are in Rio and it is going to be a party!  Carry the red, white and blue theme all summer to support Team USA. Join the #Olympics conversation on social media, cheering for favorites and sharing your own personal stories of Olympic favs and experiences, as well as popular posts. Take your cheering from the couch to your business by supporting local athletes at all levels.
  3. Celebrate Labor Day.  This bookend summer holiday is a great place to host a promotion or giveaway.  Wrap up your summer marketing with solid Labor Day sales, advertising them well in advance for best results.
  4. Join in local events.  There is bound to be lots going on in your area this summer.  Whether it is the Warrior Dash fun run, Movies in the Park, Stadium of Fire, Shakespeare on the Beach, or Rooftop Cinema Club, add your small business to the list of supporters by donating goods or tweets, attending, or simply adding your advertising of the activity in your store or site. It is common practice to reach out to event organizers offering a reciprocal social media share – you share their event on social media or in store, they’ll share your site or store details on social media.
  5. Use a variety of marketing strategies.  Summer is filled with vacations, family reunions, and get-togethers, so increase the number of times you connect with customers so they don’t miss your special or sale.  Email blasts, text message reminders, phone calls – however you connect with customers make sure it has a clear, consistent, and compelling message about the benefits you provide through your products and services.  Social media heats up during the summer with everyone posting photos about travels and fun.  Keep your brand and message top of mind by posting often – and reposting popular and informative posts.  If foot traffic is key to your business, add visual reminders of promotions and deals near the door and register, where customers linger, to grab their attention and promote sales.
  6. Practice.  Practice.  Practice. Win.  Take advice from the athletes – it takes a lot of practice to be an Olympian.  Make a plan for the summer, practice a bit every day to improve and expand your marketing efforts. If something is working, do it more often. If something isn’t working, tweak it. It is consistent effort day after day that leads to greatness.

Did you catch our first post on planning your summer marketing efforts. You can read tips on planning the who, what when, and where of summer business events here.

For cheap advertising tips in the summer, visit this post.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Low-Cost and Low-Risk Ways to Grow Your Team

4 Low-Cost and Low-Risk Ways to Grow Your Team


A few months ago, we polled our Vyde clients about one of their biggest challenges as a small business owner. The results were overwhelmingly similar, with “growing my team” coming in at the top spot. We’ve compiled a few low-cost and low-risk suggestions to help you grow your team.

  1. Start an internship program. There’s nothing better than fresh minds and free labor, is there? It’s what makes interns a great way to grow your team. Contact universities and community colleges (they don’t even need to be local) about setting up an internship program. Most college students need an internship before they graduate, and taking advantage of this opportunity to bring on a potential new employee (but with no obligation) is a win for both parties. Pros are that you don’t have to pay them or hire them long-term, they may bring new ideas to your business and turn into an integral part of your team, and you have the opportunity to help them jump-start their career, even if it’s not with you. Cons are some legwork involved in starting up an internship program, your intern may not be a good fit for your team, and you might have to take extra time out of your day to teach them the ins and outs of daily work at your company.
  2. Hire your family members to work for you. Yes, even your kids. Whether you’re bringing them on as a full-time employee, or simply paying your kids to clean the office building, family members can be an effective way to grow your team. After all, you already know them, you trust them, and you can count on them. Keep in mind that hiring family members can sometimes cause contention and strained relationships though, so be sure to treat it like a business from the very beginning. We outlined some tips for hiring family members in this post from a while back.
  3. Outsource some of your work, rather than bringing on more employees. This sounds a little counter-intuitive in a post about growing your team, but hear me out. Outsourcing some of your work–tasks like graphic design, accounting, small business bookkeeping, copywriting, social media management, etc–can give you time to focus on building a solid team within the office. Freeing up your time allows you more time to train others, interview, and get the right fit. Also, when you outsource these tasks, it’s like a trial run for a potentially permanent job. You only have to pay them for the tasks they do, but if they knock your socks off with their work, you may consider bringing them on as a part-time, full-time, or remote employee. Sites like upwork.com, fiverr.com, and even your local classifieds are a great place to find talented freelancers who are ready to work.
  4. Take the time to hire the right fit, not the quick fit. Going along with number three, hiring the right fit  is the best way to grow your team effectively. And, probably, the least expensive. Hiring new employees can cost quite a bit between background checks, drug tests, trainings, certifications, and more. You don’t want to do it more than you have to, so taking your time during the interview process can really help to make sure you get it right. You might consider hiring on a temporary or trial basis and then transitioning the right employee into full-time.

Take the time to hire the right fit, not the quick fit

What are your favorite tips on growing your team effectively?

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Even if there’s still blustery spring weather where you’re at, it’s not too early to start planning out the summer for your small business. Marketing can be difficult in the summer as many consumers tend to focus less on business and more on family fun. However, that doesn’t mean you can’t engage your clients in your business during those long hot months. Getting an early start on summer planning helps those promotions and events run smoothly and eases your stress. Use the month of April to quickly map out the who, what, when, and where of your summertime business plans.

  • Who: Make two lists here. Who #1 is  which of your employees is in charge of what summer events and promotions. Let them know what aspects they’ll be managing and what the expectations are. Who #2 is the people you are reaching. Are you planning extra appreciation around your current customers and clients with a summer party? Or are you planning to launch marketing promotions solely to grow your current clientele? Knowing the people involved and the audience behind your summertime marketing efforts is key to success.
  • What: Don’t overdo it, but set ambitious goals for your company. Make a plan for reaching x amount of employees or $xyz in sales by the end of the summer and plan the “what” to make it happen. It could be digital marketing, like a series of blog posts or email campaigns; on your site, like coupons or summer sales and specials; or physical, like a party, an ice cream social, or a softball tournament. Of course, not all of these events would work for all businesses, so choose what works for you and your clients and roll with it.
  • When: Keep key summer holidays in mind when planning your events. Something like a digital coupon or email promotion will work better over Memorial Day, Labor Day, or the Fourth of July, but obviously physical parties and in-person events may not attract as much of a crowd during these family-centered holidays. Use the holidays to your advantage, but make sure you do so properly from a marketing perspective. Summertime is busy for everyone, so plan events around what works for your clients and employees who will help you reach your goals, not the other way around. Do some research and post the events on social media/send emails around the time of day that your targeted audience is most interactive.
  • Where: If you’re holding in-person parties and events this summer, be sure to book your locations early. April and May is a great time to book pavilion, parks, and events centers for events happening in July and August. You’d be surprised at how quickly they fill up.

By getting the larger details of your marketing promotions laid out early, you can save yourself a lot of time and stress down the road. The small details like specific email text, party decorations, and what food to serve can be delegated to employees and worked out in May or June. Maximize those warm fun summer months to grow your business and have some fun with clients and employees.

See part 2 and part 3 of our summertime marketing series for even more great tips.

 

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

 

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Taking Stock Annually

Taking Stock Annually: Being Prepared for an Accident, Emergency, or Death

Tax season is not only a great time to get your finances in order, but it’s also an opportunity to update other important information about yourself in the event of an accident, emergency, or death. While of course you hope nothing of the sort happens to you, it is always a possibility. Being prepared for the worst can help your friends and loved ones cope if difficult times were to beset you.

Taking Stock Annually

Here are a few quick tips on taking stock annually and being prepared for the unexpected:

  • Review (or write) your will. Take the time to update your will if you’ve gained any new assets, if your executor or plans for guardianship for children or property have changed, or if you’d like to change your arrangements for money or property. If you haven’t written a will yet, it’s best to get that done as soon as possible.
  • Go over your estate planning and power of attorney. Setting up your estate to minimize costs and taxes helps you and your beneficiaries.  Talk to your accountant or attorney about this step.  Power of attorney can bring peace of mind knowing that someone you trust and who you have acquainted with your wishes will be handling your affairs in case of an impairment or death.  Complete the forms, either with your attorney or off the internet, and include them with your documents.  You may also want to give your POA a copy.
  • Make known any medical requests in the event of an accident or death. Give your specified DNR order, decide whether you’d like to be an organ donor, and make known any other medical requests you may have.
  • Update a file of usernames and passwords for all of your accounts. You may not want your social media accounts going on long after you die, let alone your subscription-based services. Leave login info for all online accounts and instructions on what you’d like done with them in the event of your death.
  • Include a balance sheet and income statement of your personal and business bank accounts. You’ll want your executor to know where these accounts are located and how to access them.
  • Create a contact information sheet that includes people you work with, friends, and other acquaintances that your close family may not know about but who should be contacted in the event of an emergency.
  • Store all of this information in a safe place. Some may feel comfortable with it in their homes, while others may choose to store it in a bank security box. Regardless of where it is stored, make sure it is safe, that someone you trust knows about it, and that it is accessible to the right person at the right time.
  • Update your family emergency plan. This should include how the family will communicate with each other in case of a disaster, where everyone will meet, along with a phone tree, updated contact information for everyone, plans as to who will check on whom, and the like. It’s also helpful to have a code word known amongst the family to let one another know there is trouble, without letting the bad guy know.
  • While you’re at it, go the extra mile for disaster planning. Refresh your 24 or 72-hour emergency kits in your home and car, and gather water storage or empty, clean, and refill existing water storage.

Prepared for an Accident

While this list may feel a bit overwhelming, it really doesn’t take very long to accomplish. Tackle it all at once, or take it one task at a time, but get it done. Having all of your important information updated and in once place will help you feel secure and ensure that you won’t leave a headache for anyone in the event of death or emergency.

Frequently Asked Questions

1. Why should I update my will during tax season?

Tax season is an excellent time to review and update your will because you’re already organizing your financial documents. If you’ve gained new assets, changed your executor, or want to adjust your guardianship or financial plans, updating your will ensures your wishes are accurately reflected and will save your loved ones from confusion later.

2. What is the benefit of reviewing estate planning and power of attorney annually?

Reviewing your estate planning and power of attorney ensures that your assets are managed efficiently, minimizing taxes and costs. Assigning a trusted person as your power of attorney gives peace of mind that someone familiar with your wishes will handle your affairs if you become incapacitated. Regular updates ensure that your plans remain in line with your current situation.

3. Why is it important to keep a record of usernames and passwords for all my accounts?

Having a record of your usernames and passwords allows your loved ones or executor to manage or close your online accounts in the event of your death. Without this information, managing digital assets, like social media and subscription services, can be time-consuming and challenging for your family.

4. How can I make my medical requests known in the event of an emergency or death?

To ensure your medical requests are honored, clearly document any specific wishes, such as a Do Not Resuscitate (DNR) order or organ donor status. Inform your family and healthcare provider about these decisions, so they are aware of your preferences in case of an accident or emergency.

5. Where should I store my important documents and emergency information?

Store all vital documents, including your will, estate plans, and emergency contact lists, in a secure location like a home safe or a bank security box. Ensure that someone you trust knows where they are and can access them in an emergency. Keeping these documents safe but accessible is essential for ensuring they are used when needed

10 Easy Ways to Create a Healthier Workspace

If you work long hours in an office, you know how difficult it can be to stay healthy and fit. But, just because you spend the majority of your day sitting doesn’t mean you have to compromise your health. Here are ten quick and easy investments to make in your office to make it a healthier, happier place to work:

workplace

  1. Buy a mini fridge and stock up. You can snag one on Amazon for less than $100 and hook it up in your office. Fill the fridge with healthy, low-cal snacks rather than venturing over to the vending machine when that afternoon hunger strikes.
  2. Install an elliptical. If you’ve got the room and a tax return burning a hole in your pocket, purchase an elliptical or stair stepper for your office that you can hop on during your lunch hour to work up a quick sweat.
  3. Sign up for a healthy snack box subscription. Graze.com and Naturebox.com offer unique, healthy snacks delivered to your office for under $12 a month.
  4. Keep cool water bottles close at hand, or grab one of these top 10 cool reusable water bottles to keep you hydrated.
  5. Hang a mirror in your office to show your posture. Glancing over at it occasionally will remind you to sit up straight, reducing the pressure on your lower back.
  6. Start a chart for calendaring exercise. It may be as simple as a dry erase board or excel spreadsheet, but tracking your exercise is a good reminder to get out and get moving as often as possible.
  7. Set a timer for every hour or every other hour. When the timer goes off, go for a quick walk around the office, do a set of lunges or squats, or just stand up and stretch.
  8. Sit on an exercise ball. Ditch your comfortable office chair for a day or two and sit on an exercise ball to increase your activity and improve your health.
  9. Invest in a FItbit. You might be pleasantly surprised at how many miles you walk around the office each day, or it might serve as a good reminder that you need to up your activity.
  10. Use apps to track your food intake. Apps like Fitness Pal or Nike Running can keep you on track and get you moving. Challenge your coworkers to lose weight or run a race.

Use apps to track your food intake

As with any other task in the work place, small changes can make a big difference in your health as well. What are your favorite fitness tips and tricks for the workplace?

Frequently Asked Questions: 

1. What can I do to stay hydrated during the workday?
Keep reusable water bottles readily available in your office, ensuring easy access to cool, refreshing water throughout the day.
2. What are some strategies to incorporate exercise into my office routine?
Set a timer to remind yourself to take short breaks for physical activity, such as walking around the office or doing simple exercises like lunges or squats. You can also replace your office chair with an exercise ball to engage your muscles while sitting.
3. How can I track my physical activity and health goals at work?
Invest in a Fitbit or use fitness apps like Fitness Pal or Nike Running to monitor your activity levels and track your food intake. Additionally, consider starting a calendar or chart to document your exercise routine and progress.
4. What are some cost-effective ways to improve my office environment for better health?
Consider purchasing a mini fridge for healthy snacks, hanging a mirror to monitor posture, and installing simple exercise equipment like an elliptical or stair stepper if space and budget allow. These investments can significantly contribute to a healthier workplace environment.

contact information

Improve Your Online Presence Part 3: Contact Information & Review Sites

If you’ve been following along on our Build Your Business in 2016 series, you’ve already reviewed your website, and performed a social media audit. Now it’s time to review your contact information and other websites your business may appear on. Keep in mind that all of these sites may not apply to your company (especially if you don’t have a physical address), so just use what works for you to improve your business’ online presence.

searching your company name

  • Start by searching your company name in a variety of ways. Use a few different search engines, be intuitive about what clients may type in when they’re searching for you, and see what comes up. Make sure you’re easy to reach by customers and that all listings that appear contain correct contact information for your business. Yext will take care of this for you for a fee, or you can do it yourself. If you come across listings that are incorrect, be sure to go into that site and make relevant changes.
  • Make sure the first 10 pages of a Google search of your company contains correct contact information. Do this for all social media sites and Yellowpages as well.
  • Next, update your Google+ page, or create one if you don’t already have one. Keep in mind that any photos you upload here will be at the top of Google results when someone searches for your company so they should be professional and well done.
  • Add your company to Google Maps and Google Local, if these apply to your type of company.
  • Create a Yelp listing, if you don’t already have one. Your listing should have professional photos and updated contact information, and you should also respond immediately when people post about your company. Give them a quick “thank you” for positive reviews or provide great customer service if they complain about their interaction with your business.
  • Go through other review sites and update your company information and respond to any reviews left there by customers. A few sites to check are Angie’s List, Better Business Bureau (BBB), Bing Places, Citysearch, Merchant Circle, Trip Advisor, Open Table, Yahoo Local, Yellow Pages, Amazon (customer reviews), and any other review sites where customers and clients may be talking about your company.

Keep your business image sharp by maintaining a professional presence online that is updated and refreshed as things change with your company.

Read the rest of the series here and here.

Other posts that might interest you

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Social Media Audit

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

So you’ve reviewed your website and got it looking top-notch? That’s great! The next step in improving your online presence is to perform a quarterly social media audit. Here is a quick checklist for doing that:

Make a list of all social media accounts

  • Make a list of all social media accounts that your business is part of and plan to update each account. Note any specific edits that you’ve been meaning to fix and haven’t yet.
  • While you’re doing this, make a list of all usernames and passwords and store them in a safe place. Update your passwords as needed and share them with the correct people in your company.
  • Make sure all links on your website and newsletter work properly and are directed to the correct account. Only display links of accounts that are actively managed.
  • Check all contact information: make sure phone numbers, emails, links to websites, and addresses are current on all accounts. Refresh your “about” page(s) and business description as needed.
  • Update all cover photos with a fresh look and make sure any important information isn’t hidden behind profile pictures. Your cover photos should show the benefits of your product or service, have a call to action, or show happy people with your product or logo. Check out this complete list of social media cover photo sizes before you begin designing.
  • Create an editorial calendar for your team. It should include a consistent posting schedule for all social media accounts. A good rule of thumb is to update your Facebook page at least once a week, Twitter once a day, Instagram two to three times a week, and Pinterest at least once a week. Ideally, a member of your team could manage all social media accounts and post even more than that. A great resource for scheduling your social media posts from all accounts is Hootsuite.com.
  • Place a call-to-action on your social media accounts. You can use Facebook to share an “offer” (maybe a free month of your service or a coupon for your followers); post a few quick tweets asking followers to sign up for your newsletter, or include a link in your social media posts that simply directs traffic to your website.
  • Plan contests, sales, discounts, and giveaways for the year and advertise them through social media. All of these things should be announced and advertised in advance, and then include an extra push on social media while the sale or giveaway is occurring.

Not only do refreshed and well-maintained social media accounts keep your business image looking sharp, they help you engage with your followers, learn about your audience, and interact with current and potential customers on a personal level.

Read the rest of the series here and here.

Other posts that might interest you

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Improve Your Online Presence Part One: 8 Steps for Reviewing Your Website

wordpress-themes-gold-coast-feature

Your website is often the first introduction of your small business to potential clients and customers. Keeping it in perfect condition can help boost sales and keep your image looking sharp. Make it a priority to review the functionality and usability of your small business website at the beginning of each year, so you can catch and correct and bugs sooner rather than later.
While doing a complete overhaul and review of your website can sound like a daunting task, taking a systematic approach to the job can simplify things. You can take care of these items yourself, or ask a client, friend, or family member to do the following:

  1. Check all links on the website. Make sure each link directs properly and none are broken or linked incorrectly.
  2. Review all content for spelling and grammatical errors. Small business websites generally contain a lot of information and even the slightest grammatical or spelling error can send the wrong message to clients. Keep your focus on the most important and most visited pages of your site, rather than reviewing old blog posts for grammatical issues.
  3. Update the appearance of your website. Not all small business websites need refreshing, but updating even just the homepage of your site can give it a more modern look and feel as you start the new year. Add current photos, remove outdated features, and keep it simple. Make sure the overall appearance of your website conveys the message you want it to.
  4. Keep your brand at the forefront of your website. Make sure your logo is the focus of at least one page, and place it on other pages within your site as well. Keep colors and design consistent with your brand. Your website should look uniquely yours.
  5. Think functionality. Make sure your site is easy to use. Items should be in their usual places on the website and your navigation bar should be simple and straightforward. Compare your sites with others in your industry to improve functionality.
  6. Refresh testimonials. Clients who are thinking about using your services or purchasing your goods don’t care what Joe Smith said back in 1999. They would rather know what your clients are saying now. Solicit testimonials from current clients via email or social media and keep your published testimonials within the last five or so years. Hint: adding credentials behind your reviewers name is an added bonus and makes your small business look more credible. (ex. “I love this business!” -Joe Smith, CEO at XYZ Hospital)
  7. Social media. If your small business is on social media, those links need to be on your website. Direct clients to your social media accounts for the latest happenings within your business, since they are likely updated more often than your website.
  8. Make your contact information visible on every page. Your business name, address, phone number, and email should be on every page of your website. Keep it readable and easy to find.

Keep in mind that a functional, attractive and error-free website is extremely important, but don’t get so hung up on perfection that you neglect other aspects of your business. You could probably spend all year updating, tweaking, and perfecting your website but 2016 is calling and it’s time to go out and make your small business more profitable than ever!

Read the rest of the series here and here.

 

Other posts that might interest you

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Small Business New Year’s Resolutions

3 Tips on Making Your Small Business New Year’s Resolutions Last All Year

Most people who are familiar with new year’s resolutions are also familiar with a feeling of defeat within a few weeks or months of setting their goals. They realize they’ve gotten too busy to achieve them, that their goals are too challenging or overwhelming, or they just abandoned them completely without reason. In fact, 46% of people give up on their new year’s resolution by the end of January, and 64% give up on their goals within six months.

This is true in the workplace, as well. So how do you set new year’s resolutions for your small business that will outlast that fresh start enthusiasm? Here are three proven tips on making your small business new year’s resolutions last all year long:

  1. Be really specific. The goal that continually tops the list on personal new year’s resolutions is “lose weight.” For small businesses, it is simply, “increase profits” or “grow my business.” What is missing in these statements? Specificity.

Would you be happy losing one pound? How about increasing your yearly profits by $50? If you aren’t specific in your goals, it’s nearly impossible to create a plan to carry them out. If you can use numbers in your small business new year’s resolutions, do so. For example, “We will take our annual sales from $150,000 to $200,000 in 2016,” or “We currently have 200 clients. We will obtain 100 new clients in 2016.” Specific statements like these give you a benchmark to analyze data.

Tip: Make your small business new year’s resolutions pack an extra punch by putting your statements into a can-do format using words like “will” or “can,” rather than “hope to” or “want to.”

  1. Create a plan of action, and then set the wheels in motion. Small business new year’s resolutions don’t resolve themselves. You and your employees will have to work together to create a plan and stick to it to accomplish the goals you set. For each goal you decided on, list the action steps it will take to make it happen. For example, if your goal is to obtain 100 new clients in 2016, your actions might be:

-Spend 10% more on advertising/marketing efforts

-Hire two new employees focused on client acquisition

-Hold one meeting per month to discuss ideas for new client acquisition

Each of these tasks should be assigned to someone on your team, and given a deadline. Employees should report the progress of these action steps regularly to help you stay on track with your small business new year’s resolutions.

  1. Review regularly and especially at year-end. Your small business new year’s resolutions can ultimately become a plan of action for the year, and thus should be revisited and even tweaked or edited accordingly. Plan to review your new year’s resolutions quarterly, and then a large year-end review for your entire staff. Schedule specific meetings for discussing these goals now so you don’t haphazardly throw something together at the end of the first quarter.

When you review your small business new year’s resolutions with your team, be sure to discuss which items you can check off your list, what worked, what didn’t and why. Do what you can to move the team forward and continue working on the goals throughout the entire year. By making this a yearly process, you can see and record noticeable changes in every aspect of your business, according to the goals you set.

Review regularly and especially at year-end.

FAQs about Setting Small Business New Year’s Resolutions

Why do many small business owners struggle to maintain their New Year’s resolutions?

Small business owners often face challenges due to vague goals, lack of specific plans, and insufficient follow-through.

How can I make my small business New Year’s resolutions more specific?

Specify goals using measurable metrics like revenue targets or client acquisition numbers. Utilize words like “will” or “can” for added commitment.

What steps can I take to ensure my resolutions translate into actionable plans?

Break down each goal into actionable steps with assigned responsibilities and deadlines. Regularly review progress and make necessary adjustments.

Why is it important to review small business resolutions regularly?

Regular reviews help track progress, identify successes, and address challenges. They ensure alignment with long-term business objectives.

How can I ensure my team remains committed to our resolutions throughout the year?

Foster a culture of accountability by involving team members in the resolution process, assigning tasks, and holding regular progress meetings.

20 Ways to Cut Business Expenses

  1. Hire Independent Contractors: An independent contractor can save you money because you aren’t paying for any employee benefits for them. They’re a great option if you don’t need a full-time person doing the work.
  2. Change Your Phone System: Phone systems can add up. See if you can simplify your system and use free options instead.
  3. Stay Virtual: If you can run your business online, do it. Opening a physical location can add a lot of expenses (think rent, insurance, utilities, etc.)
  4. Create your own forms: Instead of buying forms from a local office supply store, create your own. This will help keep them unique to your business and save you money.
  5. Renegotiate Your Rent: If you have to have a physical location talk with your landlord and see if you can renegotiate your rent. If there are a lot of empty spaces in your city, then your landlord may be more open to discussing your rent.
  6. Buy Recycled Ink Cartridges: Ink cartridges are really expensive, especially when people are frequently printing. Instead of buying brand new ones, buy recycled. It will save you money and you’re more eco friendly.
  7. Reevaluate Your Medical Insurance: Medical insurance is a big expense for businesses. Don’t leave picking a policy for the last minute. Really research your options and see if you’re getting the best bang for your buck.
  8. Hire Temporary Employees: If you know you’re going to have a busy season coming up, but won’t need employees after the busy season ends, then hire temporary employees.

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Vyde is a licensed accounting firm (CPA) based in Provo, Utah, and members of the AICPA. We provide professional accounting services to businesses and individuals, with a focus on small business bookkeeping and taxes.

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