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Juliet’s take on new year’s resolutions for businesses

Perhaps not a very original opinion, but new year’s resolutions are a great place to start to make positive changes, both in business and in your personal life.

Ideally, they should offer a realistic solution to a problem that needs remedying, rather than being inevitable or completely unattainable. It’s very easy to make resolutions, and I feel comfortable to speak on behalf of others in musing that committing to them is the real challenge.

Although January is not a universal start to the financial business year there is no excuse not to use it as a landmark to make some long overdue improvements for the new year.

Observe corporate formalities

Depending on the size of your business and the stage of development it is at, bureaucratic formalities will vary. Find out what they are and how to best implement new regulations into your business strategy. Once all of the requirements have been addressed you can start planning strategically for worry-free expansion.

Address employees’ suggestions

In true Ebenezer Scrooge style, make sure that any employee queries aren’t carried into the new year. Failure to make positive changes may have an adverse effect on employee retention, productivity, and improvement on any issues in which employees have identified flaws.

One of the most challenging times to satisfy employee needs is during growth periods – incidentally the worst time to lose valuable workforce assets. The new year is a great excuse to address issues, reinforce positive achievements and tackle any negative concerns.

Make a move on investments

You may have already made your B2B service wish-list back in 2018. If that’s the case, now is the time to look into your options. Set KPI targets for kick-starting implementation and calculate expected ROI as well as any other benefits.

For example, if you make a plan to invest in a B2B PR campaign make sure you know what to expect in returns. This way you can track the efficacy of your investment as you embark upon it and ensure that you are prepared to take on the resulting successes. Planning out your year with B2B treats will help you visualise and facilitate growth plans.

Competition is an important factor in business – so why not get competitive with yourself? If nothing else, make it your goal to make one improvement to your business from the previous year. Small changes very often lead to big opportunities which can benefit your business.

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