New Year’s financial resolutions for small businesses

4 January 2018 by Andrew Auld

What is your focus for your business in 2018? As a small business owner, my suggestion is that you do the basics well.

1. Get into action

Resolve to actually do something and sustain it. Resolve that you will not be like the many people whose New Year’s resolutions fade into oblivion before January does!

2. Stick to the basics

We fare so much better if we are clear about what we want to do, and nothing should be more clear than the basics of your business. Go back to the start. Ask yourself: Why am I doing this? Regain the passion for your business.

3. Commit to excellence

Excellence is excellent, so do the basics well. Your customer will be more upset if you mess up the basics. Also, don’t try to wow him with the extra frilly bits.

Do what you say you will do, when you say you will. Communication is key. So talk to your customer when there are any delays regarding service or product delivery. Remember, profits are pleasing but doing right by the client is the foundation.

About the author: Andrew Auld is a Financial Planning Consultant at Alexander Forbes