Business Resolutions for the New Year

Thursday, January 10 at 02:30 PM
Category: Business Banking
It’s a new year and that means it’s time for us to reflect on our lives and look for ways to improve in 2013. But who says New Year’s resolutions are just for individuals? Any business can improve its health and wellbeing so here are four resolutions for your business to consider for a better 2013!
 
  1. Layout your yearly calendar.
    Were your November and December months spent frantically trying to generate a year end boost in sales or hammering out last-minute paperwork before the fiscal calendar ended? Most businesses understand how seasonality can impact their sales, but we still see many businesses plan their marketing efforts month-to-month or season-to-season. Most successful marketing involves laying out a strategy for the entire year and then executing the plan. It’s good to be able to adapt to trends as they happen during the year but a failure to plan a full calendar usually leads to disjointed marketing.
     
  2. Start standup meetings.
    Communication within an organization is vital to its health and a lack of communication can lead to disengagement amongst staff so try something quick and easy this year. Have weekly 11-minute standup meetings at 11:11 a.m. every Monday. It’s a quick chance to cover any important communications, gauge the pulse of the staff, and let them ask questions. Unlike a formal sit-down meeting, there’s less chance of going off course or wasting people’s time.
     
  3. Stop what’s not working.
    This may sound simple, but it’s harder than it sounds because we’re all creatures of habit. Do you know how effective each marketing channel was in 2012? Are you reallocating all money from the lowest producing channels or will you give them a pass because your gut tells you to let them slide? The best marketing plans embrace test and learn philosophies. Last year was a test. What did you learn and how will you act on that?
     
  4. Get an intern.
    Advancements in technologies—social media platforms, software, user experience/interface design, etc.—move faster now than they ever have before. This makes it hard for most people to stay on top of the ever expanding technologies that could make your marketing, payment processes, inventory management, or Web site more efficient or effective. So will you risk falling further behind, or is 2013 the time to get an intern from a local university or community college? Academia is the perfect environment to find someone to research and analyze new developments within your industry. The current job environment has also made it easier to find a topnotch student for this roll.
New Year’s resolutions are born out of our desire to improve ourselves. Your business deserves the same commitment to improvement. Here’s to a great 2013! Now excuse us, we need to go to the gym.
 
The views of this article are for general information use only.  Please contact and speak with a subject expert or your banker when specific advice is needed.  Find articles like this and much more in the online Arvest Biz Center.
 
Tags: Arvest Biz, Business Banking
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