What are your business New Year resolutions?

posted by 3 years ago in Features

2020 is here, a new year, new decade and time to look ahead. Many of us are likely to set personal resolutions, although it is also a time for businesses to set their own resolutions for the year.

Whatever your goals for the year, there are some resolutions that could increase your businesses success in 2020. The following are some great examples of New Year resolutions which could set your business in a great path this year.

1) Invest in marketing

If your business is looking for new customers, your marketing strategy should be one of your top priorities. Take the time to create a marketing plan which your business can follow, which may mean hiring an experienced marketing professional.

2) Involve the team in business planning

Business planning is an important part of every healthy business; however, it can help to involve the wider team. A regular planning meeting is a time to reflect on the year so far, discuss achievements and areas where the business could be improved.

3) Join a new networking group

A networking group is a great way to make new business contacts and forge potential customer relationships. Whether you join a specific business networking group or an online community, the new contacts could give your business a boost.

4) Give back to the local community

There are many worthy organisations in every community, so look for one which matters to you and try to give what you can. Alongside monetary donations you could serve on a committee, act as a mentor or even ask your employees to volunteer.

5) Overhaul the office

Do you have old equipment which is on its last legs, such as an old printer or a broken coffee machine? Now is the perfect time to stop making do and buy a new one. Anything which eases your businesses day and reduces issues is worth it.

6) Delegate more often

One of the biggest issues shared by many business owners is learning to delegate more. In many cases owners feel it is easier to do a task themselves than explain to a member of staff how to do it. However, delegating more of your tasks can help improve overall business efficiency and sustainability.

7) Improve team communication

Improving communication across your employees is a great opportunity to improve staff retention and job satisfaction. Instead of a performance review every year, have a quick chat every day or every week. Alongside discussing work, ask about their personal lives and build open relationships. By opening up conversation you could unlock a great business idea.

8) Commit to diversity

The strongest teams are composed of people from many different backgrounds, as we all consider problems in different ways. Look at new ways to improve diversity, such as flexible working and gender equality programs.

9) Increase flexibility

As the world becomes more connected, you may find that much of an employee’s workload can be completed from home. Although many will require time in the workplace, offering flexibility can dramatically improve your employee’s productivity and job satisfaction. For example, a work from home day each week will allow employees to reduce their overall commute time each week.

Provide experiences

Many businesses provide great employee perks such as free lunch and on-site gyms, however sometimes experiences can be more valuable. Aim to hold regular get togethers for the team away from the workplace, as this can help create lasting relationships and connections in the work environment.

At BusinessComparison we are here to support your business, by helping you compare and arrange the financial products your business needs. Whatever your New Year resolutions, our team can help you find the most competitive deals available from business loans, business energy to business insurance and telecoms.