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Get on Track for the New Year

by Beth Holbrook, Director of the Zions Business Resource Center

Utah Policy

 

Beth Holbrook, Zion's Bank
 

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As you think about fresh starts and your aspirations for the New Year, it’s not too late to make business resolutions along with your personal ones. What are your hopes and ambitions for 2013? What resolutions in the form of projections and measurable goals will help advance your overall vision for your business? How can you involve employees in setting and working toward these objectives? If you haven’t already, take stock of 2012 to see where your company succeeded and in what areas you could improve. Whether specific goals focus on financial figures or employee performance, make sure they have quantifiable measurements and chart your progress throughout the year. Here is a list to help you get started:

• Fine-tune your business plan. Dig out your business plan and read it. This is your roadmap to success and a great starting off point for goal-setting. See that your business plan continues to reflect your current company vision and values, and make adjustments if necessary.

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• Strengthen customer relationships. As small businesses face increasing competition and vie for cash-strapped customers, how you interact with your customers will make or break the deal. This might be a great time to take things to a new level and install a new company culture of true customer service.

• Implement a sales calling program. It’s time to get back in touch with those who keep you in business. The end of the year shouldn’t be the only time you contact them to say thank you.

• Track monthly business expenses. Engage your employees in controlling everyday expenses. Help them understand why it’s important and how they can make a difference.

• Appreciate your employees. Your employees are likely your business’s most valuable asset. In addition to providing fair compensation, verbally acknowledge their contributions and reward extra efforts. When monetary rewards are not possible, recognize employee dedication with paid time off, hand-written notes, or other tokens of gratitude.

• Get involved in your community. Working with local nonprofit organizations not only shows a true commitment to your community, it is also a fun and altruistic way to get your business’s name out and help those in need.

The Zions Bank Business Resource Center is here to support you in reaching your goals. Call us for a free appointment at (801) 594-8245. We are open Monday through Friday from 9 a.m. to 5 p.m. Beth Holbrook can be reached at beth.holbrook@zionsbank.com.