eThinker: Resolutions for Your Business

We are now well into January, the first month of the year. The toy that your kid couldn’t live without is now lying discarded in the back yard. Holiday leftovers are a thing of the past. And by now, even your most ambitious New Year’s resolutions may be a thing of the past.

But resolutions don’t require a special day to make them work. If you fell off the wagon last night, your hangover is telling you to climb right back on. If you missed your morning jog three days in a row, there’s nothing to stop you from getting out there on the fourth day.

Businesses can also make New Year’s resolutions. Here’s a few, courtesy of Forbes:

1. Don’t let a recession–or fear of it–alter your growth plans. If you were planning on taking out a small business loan for growth, you may encounter the short-term pain of higher interest rates, but if you believe in yourself and your company, it could produce long-term gain.

2. Don’t cut back on your marketing. Research has repeatedly shown that companies that maintain their marketing expenditures during recessions emerge stronger once the tough times are over. 

3. Revisit your business plan. It’s a living document which should be continuously updated, and the beginning of the year is a good time to determine if any changes should be made.

4. Take advantage of technology to make your company more efficient. There may be systems that can be automated to make things run much smoother and keep better track of your expenses. This is where we can help, because that’s our business.