The beginning of the year is a perfect time for business owners to evaluate their previous results. What needs to be in the focus of this recapitulation is the quality of collaboration with your business partners. In addition to that, debt management is also important, as well as the analysis of employees’ productivity. Also, you should start setting your new goals, simultaneously with the assessment of the business results in the year behind you. Those complementary actions will generate some fresh ideas for the year before you. So, here are some important goals every SMB-owner should set for 2017.
Determine the milestones
If your team leaders and managers don’t have a clear orientation, they won’t be able to achieve the goals you’re planning. Also, you’ll agree that it’s easier to walk a long distance in several smaller stages. This is why it’s essential to bring a set of milestones for your business in 2017. You can start with general plans for every month. Then, at the beginning of each month, hold meetings with team leaders, to bring detailed monthly and weekly plans, as well as some additional milestones within those plans. In addition to that, establish them in collaboration with your investors, to meet their expectations, as well. That way, you’ll get a clear view of your near and far business perspective.
Increase your online visibility
According to this real-time calculator, the number of Internet users has surpassed 3.5 billion people. If we know that the global network will only spread in the years to come, it goes without saying that well-managed digital strategies should be among the priorities on the list of your New Year business resolutions. Here you can perform a string of powerful online actions.
- Multi-channel approach – Launch a full-scale promotional campaign in several social media. A Facebook page, Twitter and Instagram accounts and a YouTube channel, as well as Google+ business features will all add to your online visibility.
- One-size-fits-all website – There will be more than 6 billion smartphone users worldwide in 2020 [source]. Because of this tremendous rise in the number of gadget users, business owners have to start preparing for such a gadget-governed future. Having a responsive, adaptable website, accessible from all platforms is a must.
- Joining professional communities – Register your business on LinkedIn and other similar networks for business professionals. The more connections you have, the better visibility you’ll achieve.
Adapt the workforce to your needs
When preparing your enterprise for a new business year, have a look at your workers’ payments and analyze the number of employees. If there aren’t enough tasks for all of them, some of them should be offered new, part-time contracts. So, try to save assets wherever you can, but start with moderate staff restrictions. On the other hand, if you don’t react on time, you’ll have to take a harsher attitude later on, which will be stressful for both your workers and your managers. To avoid such an outcome, analyze the workforce efficiency on time and bring appropriate decisions.
Use outsourcing benefits
Over the last few years, many new options for hiring employees online have become available to entrepreneurs. Those advantages are yet to completely change the way we find business associates and employees. Their greatest value is that they’re the most open form of labor market ever. Employers and employees can contact one another directly on the Web and freely negotiate the terms of their future collaboration. Moreover, people from different countries can work together without any problems. In line with that, small business owners can negotiate some affordable rates for their needs. Similarly, employees will have a chance to earn higher salaries online.
For all those reasons, SMB-owners should register their enterprises on several outsourcing platforms and start looking for new business deals.
Identify the budget guzzlers
A vehicle that consumes a lot of gas is called a gas guzzler. Similar to that, every business has some weak spots where they’re losing assets without gaining any profits. Therefore, identifying those budget guzzlers has to be done before you enter a new business year. So, sit down with your accountant and analyze all the payments made to your suppliers and providers. Note down every single business that’s been late with their payments. Determine a procedure you’ll apply in case those debtors don’t react to your reminders.
Furthermore, study your tax status and check if you’ve sorted out all those payments. At this stage, it’s important to make a strategy for the future financial services you might need. By making a summary of your previous business projects, you’ll get a better insight in your finances.
Every new year brings new business challenges. However, they’re solved more easily if you’ve already dealt with your old obligations. Therefore, first conduct a thorough analysis of the previous year. As you close the old business projects, turn over a new leaf and determine the fresh goals for 2017. This approach will increase your work productivity, improve your business revenue and open new opportunities for a bright business future.