With 2018 having already well and truly kicked off, it’s time to talk business and the year ahead. What are your goals and how do you intend to meet them?
Our business team has put together a list of New Year’s resolutions for small businesses to help you get off to a great start.
Cash flow
Do you need to look at ways to better manage cash flow? Here’s how to work towards improving cash flow; invoice promptly, don’t be afraid to ask for partial payment upfront, go after receivables and pay bills when they are due.
Digital presence
Do you need to improve your digital presence? If you do not already have a website, this is something you should look into. For a few hundred dollars you could launch your own website using a template created by Squarespace.com or Weebly.com.
If you have a website, it is a good idea to update it regularly with blogs, images, and even video. This way you will improve your visibility when people are searching for the services or products offered by your business.
Social media
Social media will play a huge part in the marketing of businesses in 2018. Facebook is a must if you are targeting moms, dads, and grandparents; the largest demographic on Facebook is the over 45s. If you’re targeting a younger generation turn to Instagram, and LinkedIn is a must for business-to-business conversations.
No more procrastination
When people say they wish there were more hours in the day, what they need to do is make the hours available work better for them. This year, avoid procrastination. Limit your time on social media unless it’s business related. Look at ways to maximize your time; are there tasks that you could outsource such as bookkeeping, marketing, cleaning etc. so that you can concentrate on what you, and your existing team, are good at?
Delegate
If you have employees, are you using their skills? Are there opportunities to delegate tasks that you currently undertake, but your time would be more effectively spent elsewhere? It’s hard to loosen control of areas of your business, but doing so will give you the chance to concentrate on what you are good at; running your business.
Internal communication
Whether you are a team of two or 22, do you need to look at ways to improve communication internally? Do all employees represent your brand well? Do they know the mission and vision of your company? Do you offer an opportunity for employees to share ideas? Employees who are able to provide input are more likely to want to stay and help your business grow.
If you have any questions about Warren-Boynton State Bank’s business services, please do not hesitate to get in touch with us. Stop in at one of our branches in New Berlin, Springfield, Modesto, and Palmyra or visit wbsb.net