Have You Set Your 2015 Business Goals?

By Stefanie Neyland, Small Business Content Developer at BizLaunch.com

 

At the beginning of a new year, we all talk about setting new year’s resolutions. We may vow to hit the gym more often, take up a new hobby, volunteer or spend more time with family. But it’s commonly known that by February, most of these resolutions are long forgotten. Why? Because we tend to set objectives that are simply unsustainable.

When it comes to business, let’s forget about resolutions and instead focus on attainable goals. Here are five great suggestions you should consider adding to your list this year.

 

1. Research new technologies

Today’s world revolves around technology, and the products on offer change rapidly. With this in mind, it’s wise to vow to do some regular research to see if there’s a more efficient solution on the market that can help you run your business more efficiently. Determine what your needs are and where there could be room for improvement. Then, try and keep up to date on the latest trends by frequently visiting tech websites and blogs such as Mashable and Gizmodo.

 

2. Work on your relationships

Building stronger relationships with customers and suppliers should always be on every business owner’s list of goals. Resolve to think of new ways to reach out and educate your clients, and start to think of your customer and vendor relationships as connections that need to be nurtured—not just as business transactions.

 

3. Invest in yourself and your business

Do you need to upgrade your workplace technology? Redecorate your office? Perhaps you need new tools and equipment to scale your business? Make 2015 the year you finally make those long-awaited changes. Take some time out to ensure that your work environment is a place where you, your staff and your customers want to spend time.

 

4. Diversify your offerings

Consider adapting your product or service so that it appeals to a new group of customers. If you pride yourself on your affordable offerings, perhaps consider launching a premium version. Similarly, if your product is high-end, think about offering a more cost-effective solution. Alternatively, are there products that go along with your product that your customers would usually buy from another vendor? Try and think outside the box when it comes to diversifying your product range to untap your business’s full potential.
 

5. Track and understand your finances

Understanding your company’s financial statements is fundamental for business success, but often business owners find themselves baffled by complicated  income statements, balance sheets and cash flow forecasts. The key to running a profitable business is to have a really good grasp of your financials and to be fully aware of what money you have going into and coming out of your business. If you haven’t already, consider purchasing bookkeeping software to simplify your accounting and save you valuable time.

 

What are your business goals for 2015? We’d love to hear them! Tweet us at @StaplesCanada to share yours.