We’re a few months into 2017 already and for all too many of us, those New Year’s resolutions that we made in earnest have begun to fade off into the sunset. But, there’s no better time than the present to make sure that you’re on track to achieve what you set out to do at the beginning of the year, especially for your business. So, here are some easy ways to keep your business moving forward towards achieving some common New Year’s resolutions:
Resolution #1: Make more money.
Virtually every business owner and entrepreneur has (or should have!) the resolution to make more money. And, while you may have hit the ground running on January 1st, if you’re like most of us, you’ve probably lost some of your gusto towards achieving it by now.
One easy way to make sure that you’re on the money-making track is to follow-up with your clients and customers. Set up a consistent follow-up schedule with the 3 Ps in mind- include all of your past, present and prospective clients and customers. The more personalized that you can make your interactions, the better your results will be.
So, rather than just sending generic emails that mostly wind up in the trash folder, make phone calls, send hand-written notes or even set up face-to-face meetings, like going for lunch or coffee. This will help build strong relationships, allow you to truly understand your customers’ issues and make sure that your business is best-positioned to solve those issues. With consistent follow-ups, you’ll stay top of mind and be making more money in no time. Resolution #1- check!
Resolution #2: Have more free time.
Many of us resolve to have the free time to vacation on tropical beaches, but can’t even find the time to go for tropical drinks. So, to keep moving towards this free time resolution, you should list out every task that you are responsible for in your business. Decide which ones are must-do (these should only include those tasks that focus on big-picture growth and revenue generation) and which ones can be delegated or outsourced.
Then, work right away on creating step-by step systems and procedures for those lower-level tasks to make sure that you are setting up your employees or partners for success. Figure out ways that you can automate or utilize technology, too. There are all kinds of apps, programs and solutions that can dramatically reduce the amount of time spent on a particular task or even eliminate it altogether, so if this isn’t your area of expertise, make sure to collaborate with someone that can help you set it up. While this may take a little time at first, it will pay off when you’re sipping those tropical drinks in Tahiti and don’t have to worry about your business back home. Mark resolution #2 off that list!
Resolution #3: Lose weight.
Arguably, the most common New Year’s resolution is to lose some weight. And, while most are talking about pant sizes, weight loss should be a resolution for your business, too. There are so many areas to cut the excess fat from in your business, so take a hard look at them all.
Do you have customers or clients that take up an extraordinary amount of your time, that you have to constantly chase down to pay or that are just downright difficult? Do you have products or services that are not selling anymore? Do you have old methods and procedures for task completion that are too long, too complicated or don’t work like they should? Evaluate everything and don’t just accept the status quo. Before you know it, you’ll slim your business down to size and finally achieve that weight loss goal.
Follow these tips and don’t let another year go by without achieving those New Year’s resolutions!
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a judge on the Mark Burnett (Shark Tank, The Voice, Survivor, The Apprentice) produced technology competition series, America's Greatest Makers, airing on TBS and Host of Microsoft's Office Small Business Academy show. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a contributor to CNBC, as well as a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics.
Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011-2015) and has her own action figure.