The start of a new year is a good time to evaluate your business and look for opportunities you might be missing or things that aren’t working as well as you’d hoped.
Bill McBean, a serial entrepreneur and author of Facts of Business Life: What Every Successful Business Owner Knows That You Don’t, says it’s essential for small business owners to step back from the daily grind occasionally and ask questions like: Did you have a successful year? Where did your business shine? What’s holding it back?
Start by examining your systems and procedures. Have they kept up with the times? Are they efficient? Are any employees standing in the way of your success? It’s a good time to take control of any issues limiting your success.
McBean recommends meeting with your accountant, attorney and other key advisers. A friendly chat over lunch could give you a fresh perspective on market forces that affect your business.
Thank your best customers. Figure out what makes a good customer and who they are and reach out to them. They’ll appreciate the thought – and might be more likely to think of you for their next purchase.
And lastly, ignore talk of fiscal cliffs and economic doom and gloom and stay focused on finding opportunities. Make sure your business is protected, of course, but dwelling on fear and uncertainty will get you nowhere; they’re part of doing business.
