It’s the start of a new year – this is a good time to reflect how your business has been performing over the past year and see through your plans now on how you wish for it to develop in the year ahead.
Do you want to expand your business operations or wish to increase your sales figures? Regardless of your goals, start by writing down inspiring and achievable new year’s resolutions to help you stay on track and be motivated through the months. Here are some ideas to inspire your future business success.
1. Make better business plans
Chances of achieving any resolution hang on how well you can plan. But it’s not just about making technically sound plans. It’s also about creating practical and realistic roadmaps. How do you do this?
Invite an external (honest and experienced) eye to help you map out a formula that makes sense and isn’t so far out of reach. For instance, you can reach out to an accounting services provider to help you understand the numbers in your business for better strategic business planning and decisions. At Ackenting Group, our experienced team assists in the complexities of bookkeeping, tax and more so you have more time to focus on growing your business. With more timely, accurate financial reports and intelligence, you can keep track of your business’ financial strength for a successful year ahead.
2. Show appreciation to your customers
2020 has been a tough year with dipping sales and slow growth. While things are starting to look up, take the opportunity this year to acknowledge your important stakeholders: your customers. Reach out through them through a kind-hearted email that speaks about the challenges your business had to face, and how 2021 is shaping up for your organisation.
You can also implement special offers and exclusive promotions to thank your existing customers for sticking with your business. Let them know how much you value and appreciate them for choosing your brand over your competitors.
3. Give back to the community
This point is related to the above – as word of mouth referrals within your local community would have likely helped your business secure more customers or improve your reputation in the market. In 2020, we saw plenty of businesses giving back to the community by donating money, essential items and resources to those in need and help one another bounce back from the pandemic.
Get your team involved for a day off work to help with local initiatives or programmes that support the less fortunate or those who have been hit hard by the health crisis. While this may align with your marketing efforts, it’s also a selfless opportunity for your business to show thanks and do something good for the community.
4. Have time for yourself
Learning something new is not an uncommon new year’s resolution – but during Covid-19 times, it’s especially important to keep honing new skills and furthering your development in personal and professional areas. Not only will it help you unwind and cope with work-related stress, but you will also have up to date knowledge on conducting your business to weather the storm that 2021 might bring.
5. Learn to delegate
No one may have the same passion for your business as you do, but as a leader, delegating is still necessary because you can’t do everything on yourself. Delegating goes beyond than just passing off work to someone else – when done right, it can build trust, empower your team and assist with professional development. Identify the right person who is suited to tackle the tasks and project; allow them to develop new skills and gain the confidence to handle more responsibility in the future.
It also pays to know which type of tasks you should be delegating. From the small admin duties to the tedious tasks, there may also be times where you don’t have the necessary knowledge to get some things done. For instance, accounting can get tedious and also require specialised knowledge and expertise to handle the numbers accurately. Engage in Ackenting Group – with our accounting and bookkeeping services, you can delegate your day to day accounting functions to experts who will make a difference in running your company smoothly.
6. Expand your networking circle
Your network is your intangible net worth. It’s where you’ll engage with fellow entrepreneurs, and get new ideas or refine existing ones. This year, resolve to reach out to a new group of entrepreneurs. It could be in your industry, or an entirely new arena. Explore social media such as LinkedIn for new groups you can join and participate to build more personal connections, gain learning opportunities and find sources of support – for yourself and to others.
Here’s hoping to a good year ahead! With these resolutions, you can make impactful decisions that will bring about positive change and grow your business in the new year.
If you require any assistance on accounting services, feel free to drop us an email at johnwoo@ag-singapore.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.
