New Year’s resolutions for business owners


OHIO — New Year’s resolutions aren’t just for individuals and families. Businesses can benefit from them as a method to reflect and set themselves up for improvements in the months ahead.

Here are a few ways small business owners can get their enterprises on a better track in the new year:

• Hit the books smarter: Get your records in better shape by making sure to put in effect a process of checks and balances, whereby at least two sets of eyes hit your books every month or at least every quarter. Now is also the time to update balance sheets, generate income statements and compile cash flow statements.

• Be more positive: Foster a more positive work environment for in-house employees, as well as those who work from home or frequently are on the road for your business. Encourage real feedback and actually listen to what employees have to say. Be kind and encourage kindness among team members.

• Be goal oriented: Evaluate the past year and be honest in asking yourself if your business met its goals. Clearly define new ones and make sure your entire team knows what these goals are. Create a plan with measurable benchmarks and with regular staff check-ins where your team honestly reviews monthly, quarterly and yearly goals together. Define goals and create a platform for your entire team to transparently benchmark their successes and failings.

The new year is the perfect time to reassess your company and to set it up for increased success in 2023.

From SPM Wire

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