The new year is just around the corner, and small business owners everywhere may be working on their lists of resolutions.
In order to take full advantage of 2014, leaders across all industries should take the time to evaluate their own performances, and see if any changes are needed. A few new strategies and financial tips for New Year's can be a major boost, and even could be exactly what a small business needs to get back on track.
Reevaluate a New Year's Resolution
Everyone has made one at some point in their lives – the New Year's Resolution. For many, this means "exercise each week," or "save a little extra money." Nearly every resolution deals with something negative, and that means few people are inspired to actually perform them.
According to Inc. magazine, that is why New Year's resolutions may not be the best idea for a small business – at least not in their traditional sense. This is because most people, unfortunately, fail at their list. This can leave a person upset, and even lead them to be counterproductive. Instead of focusing on this type of resolution, leaders should think about a few other ways to capitalize on 2014.
For instance, powerful goals can be a better idea, the news source noted. These should focus on the positives. Instead of lamenting about one's personal life, a better goal could be aiming for the company to implement improved tactics that will boost a financial plan. This can set a firm up for success, instead of that usual round of failure that most people encounter regarding their own New Year's resolutions.
In addition, 2014 should be the time when a small business owner has a day to him or herself. Inc. magazine explained that one day – a full 24 hours – without phone calls, emails or checking in on the office can do a lot of good. During this time, friends and family should be the priority. This can leave a person feeling refreshed, energized and ready to tackle a whole new year's set of problems.
Overall, December and January should be for giving thanks. Small business owners can repay the many favors they may have received over the course of 2013, and reward hard-working employees. This will motivate everyone to try just as hard during the coming year.
Become a better manager
Perhaps, during 2013, the small business owner did a few things they would have rather done differently. This could relate to financial investment advice, management, accounting or any number of things. Either way, the new year is the perfect time to correct any past mistakes and start fresh.
In order to get started, leaders should talk with others about setting the right goals, according to author Kevin Eikenberry in an article for Monster.com. A team is a must for any company, so these coworkers should be included in important decisions. These people dedicate nearly as much time as a small business owner into the firm, so they are perfectly qualified for planning ahead. Better yet, including them in the process could make them more motivated during the year, and engaged in each step along the way.
Moreover, 2014 should be a year of better communication. Eikenberry explained that leaders should share key messages often. This doesn't mean sending out emails each day, as this form of discourse can leave a lot to be desired. Instead, they should use different forms of communication, and make sure the message was received. A one-on-one meeting, or even an informal personal chat can all make a big difference when it comes to keeping a financial plan on track throughout the new year.