As 2017 draws to a close it's the perfect time to reflect on how your business has performed over the last 12 months, and how you want to grow your operations during 2018. Setting goals for the coming year helps keep you focused and moving forward, and what better time to set some resolutions for how you approach your business than the New Year?
Below is a collection of our Top Five Business Resolutions - guaranteed to help grow any business!
1. Make Sure Your Business is Wholly Customer Orientated
Without your customers you wouldn’t have a business, so knowing what your customers have to say about the product(s) you provide is absolutely crucial. Review your data analytics to highlight what your customers like, what they dislike and what they would like to see more of - and commit to giving that to them!
2. Avoid Micromanagement and Learn to Delegate
This is especially true if you are a new business, but companies who have been established for longer can also sometimes do with the reminder. Quite simply, if you try to perform all tasks yourself you're less likely achieve optimum performance. It's important allow other to help your business reach its full potential.
3. Don’t be an Information Technophobe
Information Technology is a vital part of modern business. If your company's IT skills aren’t where they need to be then either ensure your staff receive the right training, or consider outsourcing this part of your needs to an experienced service. Don't get left behind your competitors, or lose productivity and valuable extra skills and services because you're afraid to confront change!
4. Regularly Revise Your Business Plan
Having a flexible business plan can give your business the ability to respond to changing economic and market conditions. Always make sure you refer back to your business plan on a regular basis to allow yourself the chance to make full use of your data analytics.
5. Look for ways to Reduce Fixed Costs
Are there functions in your company that you're paying out for but not getting much benefit from? One of the areas where companies like Meteor Space are hugely valuable is in freeing up your time and resources by taking care of logistics and other warehousing needs. If you're wasting time and money maintaining a warehouse that isn't functioning optimally and you want to transform your fixed costs into money-saving variable costs then outsourcing is a smart move.