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New Year’s Resolution: Small Business Style

Jan 12, 2021

Dig out the confetti and noisemakers – you made it through 2020!

This year has been tough on everyone, and for that, you deserve to celebrate. But while we are all happy to see 2020 come to a close, the new year will still bring challenges and obstacles of its own. Small business owners: do you have a game plan to combat those?

We want to help! Our team sat down and brainstormed a list of goals and resolutions that can assist entrepreneurs as they continue to navigate our current business climate in the new year. Here’s just a few of our favorite New Year’s resolutions for small business owners:

  1. Resolve to communicate, communicate, and communicate some more. Communication is critical in times of uncertainty. Focus on being transparent with your team, checking in with them often, and assuring them that their ideas and concerns are heard and valued.
  2. Focus on balance. Many people’s lives have been turned upside down this year. Whether it’s remote working, distance learning, new and adapted business models, or other major changes, emphasize a healthy work/life balance and allow flexibility for yourself and your employees who may be facing several challenges in their lives.
  3. Learn to delegate. When challenges arise, the first instinct of many small business owners is to work around the clock to fix it yourself. Rely on your team and trust that they can help you through this. Ask them for help and delegate tasks that may make it easier for you to focus on managing these difficult situations.
  4. Promote your business regularly and consistently. Make 2021 the year that you solidify who you are and the brand you represent. Focus on promoting your brand as consistently as possible and let people know that you are open, have made the appropriate changes, and still have products and services to offer. Do not forget to tell them how they can support you!
  5. Plan your day (and week and month). They say that the most important things are hardly ever urgent, meaning that often times, they do not have a set deadline or timeframe and tend to get pushed aside as other things come up. Take time at the beginning of each day to plan out those tasks that often get forgotten about.
  6. Discover something new. Whether your new to your industry or have been owning and operating your business for years, there is always more you can learn. Vow to learn about something new in your business or industry this year and find ways to put it into practice or incorporate it into your work.
  7. Do not forget about YOU. Owning and operating a small business takes a lot of time and effort. Be intentional about finding time for yourself this year and giving yourself time to rest and recuperate. You will be doing your business a favor in the long run!
  8. Research financing options and practices. There are a lot of unique programs and practices out there to help you finance your business most efficiently. Take some time to research tips and tricks for how you can better manage your cash flow and financial statements and talk to your banker or local economic developers about grants or loan programs, such as the SBA 504 loan program, that assist small businesses with starting, growing, and expanding their business.
  9. Create and improve your (remote) company culture. Many businesses around the nation have moved to remote working, and with that comes the responsibility to be more intentional about your company’s culture. Find unique ways to continue to build your company’s culture during this time.
  10. Share your expertise. While the challenges and unknowns you have been facing may make you feel may make you feel otherwise, never forget that, as a small business owner, you have a plethora of information just from your experience alone. Whether you talk with a fellow small business owner or start a blog or YouTube channel, find ways to share this expertise with others. Your advice and experience are valuable and something you can continue to offer, even in the midst of uncertainty.

Small business owners: we challenge you to set a New Year’s Resolution (or two or three) for yourself and your business this year. We may not know what 2021 will bring, but we can find simple ways to move forward and continue to grow in the midst of it.

Cheers to the new year and new opportunities it will bring!