It’s not only people who aim to follow through New Year’s resolutions. The start of the year is also a great opportunity to set goals for your business.
As well as your personal goals, your business can use the same assessment, re-evaluation, and planning for overall improvement. One bleeds into the other, so both your personal and professional lives can get better.
Here are 5 areas where your business can improve upon this New Year.
1. Productivity
The New Year can serve as an awesome opportunity to re-evaluate what’s working and what’s not for your business.
These are some areas you can focus on:
- How much are you spending?
- What‘s your profit margins?
- Could you cut costs in some areas?
- Should you increase investments in other areas?
One system could be great for bringing in new clients, but if it is costing your business more than it can afford. Re-evaluate whether you should still keep it and if you can replace this system for something that is more economical.
It’s time to discard what doesn’t help in your business. Instead, consider how you can utilise a new found technique to continue increasing your overall business productivity and success.
2. Staff evaluation
Staff evaluations do not have to be a bloodbath. Instead, it’s an opportunity to see who and how an employee contributes to the business. It’s a great way to reflect on how and in what areas they can improve on.
Staff evaluations should be held on a timed basis — every 6 months or once a year — to give everyone a set deadline.
Note: You do not need to chastise and make anyone feel inadequate.
3. Regular business promotion
Advertising has never been easier! But, it’s also the very reason it’s harder to get your company noticed. As most companies have their own social media accounts (Facebook, Instagram, Twitter, LinkedIn, etc.), yours needs to stand out.
Strengthen your brand label to be easily identifiable. Make sure you stay in your clients and potential new client/s minds. Include this in your marketing budget.
Consider investing on paid ads (Google Ads, Facebook Ads, etc.) to increase your visibility and ranking online.
4. More enjoyable working environment
As you spend a large portion of time at work, be sure to make it an enjoyable working environment. Niceties don’t cost a thing and go a long way. Get to know your co-workers, say “Good morning” or acknowledge them, and include a weekly motivational activity.
5. Find the values in your goals
It’s essential for your team to find the meaning and purpose in their day-to-day work for your goals to be effective.
A values-based approach can help to provide the reason as to “why” you’re aiming towards the goal. The idea is that achieving it is a mean for something bigger. With this, the way employees behave to achieve their goals becomes as important as the end goal.
Having a vision or mission statement that’s developed is a way to effectively motivate employees. Employees need to believe in what they do.
As a values-based incentive for motivating staff, most organisations are now donating part of their profits to charity.
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