As we have now closed the books on 2015 and are executing on business goals for next year, many small business owners have started to consider what they need to do differently in order to grow in 2016. Sometimes these pondering sessions are in an effort to survive. It can be a stressful time of year to be sure. DoÂ New Year’s resolutions for every entrepreneur automatically equate to success? We’ll take a look.
If you are looking for tips on how to do things better for your small business in the coming year, consider one or all of these New Yearâ€™s resolutions for every entrepreneur.
Monetary New Yearâ€™s Resolutions For Every Entrepreneur
Most of the time, a business owner makes decisions to do something different because it involves revenue loss. Few things are more sobering than crunching all the numbers for the final time to see where things end up and in which columns.
When revenue expectations fall short, it is easy to blame someone else. In reality, as the small business owner, it is your responsibility to spend and invest wisely. Â
Vowing To Save Money On Marketing – Everyone has made a mistake or two on marketing things that didnâ€™t pan out. It happens. With few exceptions, radio and local TV ads prove to be very expensive and with little recovery on expenses, never mind return. Most small business owners find much greater success for their investment through social channels.
Small retail businesses have a lot of success with FaceBook ads. If you are spending money on ads, this is a good way to sell to the consumer. B2B businesses would do better with AdWords and LinkedIn ads as well, instead of costly traditional media outlets.
Reclaiming Control Over Employee Overhead – Having employees means significant expenses. Some of that is unavoidable. There may be things included in your employee overhead that are costing you more than they should, however. Many small business owners are frustrated over the rising cost of employee benefits. Others cannot offer the kind of benefits theyâ€™d like to because they canâ€™t keep a lid on what they are already spending.
If this sounds familiar, one of the New Yearâ€™s resolutions for every entrepreneur facing this situation should be to consider a PEO for HR services and employee benefits instead of going it on their own. There are many PEO options for almost any small business situation. A PEO broker can help you find the right one for your business in a flash. It is worth looking into if you are disappointed with your employee overhead expenses.
Instituting Effective Policies In The Office – For small businesses without an employee handbook or at least written and shared policies for how work gets done at your office, it can feel like the wild west. Many issues arise and needless stress comes about when your workers do not understand what the boundaries and expectations are.
If you are constantly dealing with employee issues and interpersonal miscommunication, an employee handbook maybe what is needed to get things back on track. Your employees want to know what is expected of them whether they verbalize that or not. Everyone will feel better once your effective employee handbook is in place.
If you need advice on how to put one together, particularly pertaining to the legal issues that might arise in writing policy for a work environment, a PEO is a great place to turn for these answers as well. Legal issues in the workplace are nothing to take lightly, get the right advice for your business and your stateâ€™s employment laws and rest easy knowing youâ€™ve done the right thing for everyone.
Resolve To Get The Right Solutions To Your Business Problems
Running a business with headcount is one of the hardest things you will ever do. Consider aligning yourself with an organization that has your employeesâ€™ best interests at heart, as well as yours. Talk to your PEO broker today about what a PEO can do for you. Start the year off right with New Year’s resolutions for every entrepreneur that can be used to grow yourÂ business.