New Year’s is a time for new beginnings; a new you. This can apply to your business as well as your personal life. It can be a good time to revamp or overhaul certain aspects of your business. What are your new year’s business resolutions? If you’re drawing a blank and scratching your head, we have a few suggestions for you that could prove useful.
- Customer Survey
Feedback from your customers could be immensely useful for improving your product or service. By sharing your findings with your customers and keeping in them in the loop with how you plan to improve, you could improve customer engagement and interest.
- Track Finances Efficiently
In order to track your finances more efficiently, you must first take a look at how you currently handle your finances. For instance, do you implement digital records of your receipts? Do your personal and business expenses have separate credit cards? If they do not, this will complicate your financial tracking and management. How well do you track your cashflow; money coming in and money going out? The right software can help you track your finances easily and efficiently. If you have not invested in an accounting software, you might want to explore your options.
- Update Accounting Software
The new year can be a good time for updating your accounting software. If you’re still using Excel spreadsheets, you should consider upgrading to online accounting software. A cloud-based software offers convenient options that are secure. You can always check out the trial version of a software and make a decision once the trial period is over.
- Update Payroll
This is also a good time to update your online payroll system. If you have the right software, this is easy to do. If you do not implement such a system, perhaps it’s time you did. Paying employees electronically will save time and money. Ensure that you clearly set employee status in your system – whether someone is an employee or on contract or hired as a consultant.
- Improve Digital Presence
If over two years have gone by without any updates to your site you should add this resolution to your list. Aside from site updates, you can make your site and presence online mobile (compatible with mobile devices). If you do not have a digital element to your marketing plan, it’s not too late to start.
- Mobile Payments
Enabling mobile payments for customers through secure and convenient methods such as PayPal or Google Wallet will make things easier for your customers and for you. Given how mobile is expanding, this is a necessary move for the future.
- Goal-Setting for the New Year
Once you’ve taken that well-deserved holiday break, it’s time to set some business goals for the new year. Make a list of goals and keep them somewhere visible. They could include expanding your business, sales targets, improved cash flow, improved business relationships and so on. Every month review your progress and see how close you are to attaining these goals.
These suggestions should give you some pointers for your new year’s business resolutions. Here’s to a new year and better business.