Business planning

5 New Year's Resolutions for Your Business

Resolutions for Your BusinessThe New Year is a time to do away with the old and bring in the new. Most people make personal New Year's resolutions, such as losing weight, saving more money, or attaining a certain promotion at work. But New Year's resolutions aren't just for people—they can also be for businesses.

The start of a new year may provide a clean slate for you to drop that 10 pounds, and it can also be a clean slate for your business to make any necessary changes that could help make it more successful and/or profitable.

If you're a business owner, the following are five New Year's resolutions to consider for your business.

Make the environmental switch.

If your company isn't doing much to help the environment, make this year's resolution aimed at making your business more environmentally friendly. For example, if you are currently sending out paper invoices, statements, business materials, or any other printed documents, make the switch to digital. Have your clients sign up to receive e-statements and send out email marketing collateral in order to reduce the amount of paper you use every day. You can also switch your light bulbs to LED or install motion-sensor lights that turn on and off based on movement. Consider all the possible ways your company can cut back in order to preserve the environment, and make that resolution a reality this year.

Upgrade your business software.

Technology is important to every business, and chances are your company uses technology and software on a daily basis. If you are currently using outdated technology or software, it's time for you to upgrade to some new business software and/or technology. For example, if your team is using outdated computers, maybe this is the year you find room in the budget to buy everyone a new computer. If you are taking down your financials by hand, this should be the year you invest in some accounting software. Having updated business software will enhance productivity of your business, and enhance productivity typically results in increased profits.

Make virtuality a reality.

If there's no need for your company to have a brick and mortar office, make the switch to a virtual office setting instead. Allow your employees to work from home instead of coming into an office every day. Invest in virtual office technology such as video conference technology and shared cloud computer software to create collaboration even while working virtually. Having a virtual office setting will save your business money, it will boost employee morale, and it will make your company stand out as an innovator in the corporate world.

Acquire the best possible team.

The success of your company relies on having a talented team. In order for your company to be successful this year, you'll need to ensure you have the best possible team on staff. Take a good hard look at your employees and determine if any changes need to be made. If you have an employee that would work better in a different position, make the switch. If you have an employee that is hindering production, now is the time to let them go. When you have the best staff possible, your company will benefit.

Boost employee morale.

As mentioned above, your employees are the glue that holds your company together, and while you want the best team, you also want to make sure you keep this team happy. If your employees are unhappy with the business, it will not only impact their productivity, but it could also result in larger amounts of turnover. If you make the effort to boost employee morale throughout your company, you'll find that your employees stick around longer and are more inclined to be as productive as they possibly can.

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