2018 Resolutions For Small- And Medium-Size Businesses

Although time continues on at the same rate, the new year is an opportunity to plan and focus on our future. Here’s our take on the top five resolutions for your business in the new year:

Adopt Cloud-Based Software

Cloud-based software has become prominent in well-operated businesses. If you haven’t joined the cloud revolution yet, it’s important to note that business operations in the cloud can occur in real time, allow for collaboration and be secure with maximal prevention of data loss. Cloud-based technology exists for all business needs, including accounting, team collaboration, sales management, client relations, task management, marketing management and more.

Cloud accounting technology like Xero and Quickbooks Online allows you to sync your businesses activities as they happen and have complete visibility at your fingertips. (Full disclosure: Bookkeeper360.com has a partnership with Xero.) With the added benefits of cloud technology, you can spend more time focusing on growing your business and less time worrying about having ample digital storage space.

Cloud technologies allow business owners like yourself to access data immediately and with ease of visibility across multiple platforms — two important features in this data-driven generation.

Use Google Analytics For Your Website

Google Analytics should be a part of every website regardless of company size. You can easily create tracking codes and see the success of every page and aspect of your site. You can attain the results you expect from partners and promotions and make the most informed business decisions with full clarity.

Create A Business Plan And Set Realistic Goals

Did you find a niche and hit the ground running? Many businesses are founded on passion. If you didn’t pre-emptively create a business plan, make sure you create one for 2018. This will help pave the future of your company by creating a scalable, focused and goal-oriented culture.

Creating goals as a result of a business plan are key and making sure you set realistic goals is a must. Set the bar at an attainable pace based on past performance, current market trends, internal operations and other indicators that will help you not only succeed but work toward overall success for your business.

Seek Professional Help/Outsource

Are your financials scaling faster than you can keep up with? Hiring a CPA or a virtual CFO for your small- or medium-size business may relieve you of your financial obligations. Juggling the weight between operations and financials as a proprietor often leads to stress and underperformance.

As your firm grows, you’ll also need to manage your ever-growing staff. Human Resource tasks and requirements will grow as your company expands. Rather than lose time in this area as well, there are many companies that now offer virtual HR departments for companies. Don’t find your company operating outside of regulations by investing in professional human resource management.

The trend to keep you focused on your core business is essential to your success. Anything that is ancillary to your core business functions should be considered for an external company or professional delegation.

Hire consultants who can substitute for internal employees you may not be able to afford at the moment. Save on additional costs that come with having a full-time employee and get the same focused results you would expect from an internal team member.

Don’t Forget Your Staff

Empower your staff to take a sense of ownership in your business. Encourage each member through incentives and benefits to treat their position as if they are an owner in your company. Create a culture that encourages teamwork and social interaction to enforce your employees’ efforts toward your company’s overall long-term success. Establish the core values of your firm to further grow your corporate culture and set a model for your staff to succeed. Create a work environment that becomes their lifestyle and not just a position or title.

In 2018, focus on your core team that has assisted in the achieved success you experience today. Continue to grow your corporate culture while incorporating processes (i.e., adopting the latest technology, firming up your business plan, considering outside help in areas of your business that are essential) that will allow you to continue to maximize value and efficiency.