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3 Smart Resolutions for Small Business

by Jessica Socheski (writer), , January 06, 2014

Smart Business Goals for 2014

Here are the three best goals for small companies to make in 2014.

The New Year is here, and for small businesses, a fresh year offers lots of opportunities. But how to expand your companies reach in 2014 comes down to a few important goals. Here are the top three resolutions that your small business should make.

1. Plan, Plan, Plan

While you are drawing up your list of corporate New Year’s resolutions, one of you primary goals should be to set more goals. Having a plan is the only way to realize the vision you have for your company.

Create wide scope goals for the organization and this year. Then, take time each week to strategically plan out small steps that will point you in the right direction. And celebrate as you reach marked milestones along the way. Managing director of CBIZ, Gregg Landers says that “It should start with where you see the business in three years.” Next, write down a few areas of improvement that will help position you towards the long term goal. As you narrow down your goals for 2014, “list the key action steps you need to do this year.”

2. Center on Customers

According to Marc Compeau writing for Forbes, “there is really only one resolution that matters in 2014—get very customer focused.” This boils down to a few main areas to work on in the New Year. The first is taking advantage of data mining which is simpler to do today than ever before. Identify your top demographics and use this knowledge for better decision making. Next, be sure to measure customer retention and make it your goal to consistently attract repeat customers.

Finally, engage your consumer base with personal conversations so that you can monitor how your business is viewed by the public. “Loyalty is the holy grail of small business,” Compeaue explains. “If you can establish customer loyalty, you increase cash flow, decrease marketing costs, can increase margins and take advantage of work of mouth.”

3. Leverage Your Technology

Unfortunately, many small business owners are so busy running their companies that they “do not fully utilize the technology investments they’ve made, despite the fact that doing so would likely save them a lot of time, and drive efficiency.” That’s why “Get the most ‘bang for your technology buck’” ranks as number one amongst the 10 New Year’s resolutions for small businesses comprised by Fox Business.

There are multiple ways to store data and share information on synced platforms that will save small operations both time and money. There are also many ways to find smarter solutions for paying for the technology services you need. When purchasing Internet and phone service, companies should look into providers like MegaPath that offer efficient options like Voice Over Internet Protocol, or VOIP, to cut costs for small businesses.

Luke from Caelum Communications, a company who offer VOIP solutions for businesses, said: "For small businesses its important to properly utilise all available technology to maximise productivity.

With these three resolutions, your business can experience its best year yet in 2014.

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About the Writer

Jessica Socheski is a writer who loves business and technology and is an editor at The Teaching Box.
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1 comments on 3 Smart Resolutions for Small Business

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By Credo on January 06, 2014 at 11:03 am

Intriguing article! It certainly capptured my attention, but it also made me realize the hard times that small businesses will be facing during the economic crunch. The average customer today are without money or jobs, it makes for a very difficult time for everybody.



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