How to prepare your small business for the year 2018?

A new year begins and with its beginning, new hope and new aspirations begin. Small business owners use this time to evaluate themselves, their businesses and accomplishments. Based on this they look forward to making changes in their style of functioning.

small business for the year 2018Every small business has its own method of working. It vastly differs person to person. But there are certain common things that run through them and have their own checklist. Some things included in the checklist may be common but certain small and crucial things are overlooked, that may have a bearing on the accomplishment of the goals in this year.

Given below are few things that you can do to grow your small businesses for the New Year 2018.

  1. Keep your accounts up to date

Every entry of your business transaction should be made. This will help you in analysing your expenditure and earning. A week on week or month on month basis.  You may have to devote some time and energy to it but the trouble is worth taking. It would help you in balancing your creditors and debtors in the most efficient way.

Setting aside sufficient money for taxes, rent, raw material purchase, EMI’s, repair and maintenance.  Staff salary, machine, electricity and telephone bills etc. So that you do not get into trouble for arranging finances.

  1. Interact with your team

The year-end should be time for consolidating your position. For many small business owners, most of the day is spent thinking and working on ways to make the business thrive. In this owners miss out on valuable feedback and spending time with their staff.

As days move towards the holiday season, make sure to take some time off and be with your team. You can initiate a group discussion regarding the company’s state of working. In this process, you can gather feedback. See to that every staff should provide an input. It can be negative or positive. The gathered input can come up with better suggestions and new ideas. This makes your team stronger which will help you in long run.

  1. Prepare a list for business growth

Every businessman strives for growth. Be it a small one or a corporate. But only a few of them take the necessary and planned steps for growth. Let you set the stage for growth.

Take a serious look at your business. Write down in details about all the points which are lacking. Is it finance, skilled manpower, short supply of raw materials etc? Now start noting down against each in your list, what all steps can be taken to improve the position. Take few days time to come to conclusion.

  1. Take help of technology

We are in a time where there is constant innovation. For every business, there are new technologies which are aiding or assisting for better production or increase production. Computer and software are finding gaps in production and inventory management etc.

To seamless and undisturbed team communication Slack software can be used. There can be work or file sharing between groups of employees, whose work depends on each other Dropbox is the most suitable for it. Effective marketing is one of the factors that need to focus; buffer is here for this purpose. You can manage and schedule your time properly with the help of a calendar.

Are you Setting Goals or Achieving Goals?

There is a big difference between setting a goal and achieving a goal. Once you learn the magnificent and wonderful powers of goal and try to achieve it then it changes your life phenomenally.

People surrounding you may say that it will be impossible for you to do certain things or achieve certain goals. They may dishearten you degrade your potential and ability to do a lot of things. It all depends on you, whether you want to be successful or failure.

Achieving GoalsSetting a goal is taking the first step though many feel that it is vital. To begin with, the goal which is set should be achievable and realistic. Most people either set too high or too low goal, which is beyond their capacity or undermines their capacity.

The following are some tips for achieving goals:

  1. One should be very clear about his/her goal

Being the first part of the process, one should be very clear exactly what one wants or intends to achieve within a certain time frame. Your goals can be like losing 10 or 15 kg of weight by year end or earning 10% more than what you are presently earning by next year this time or buying a house worth X amount by the end of five years from now etc. One thing to note is that you created an aim and also included the deadline for completing it.

Focus on your goal. Ponder over it. Question yourself – who, where, what, when, how, and why. When you questioned this to yourself about your goal you will automatically get the answers for your aim and objective of your goal. Your goal will be more meaningful and have more clarity.

Once your goals are set your actions, behaviour and approach to things will start changing in a positive way. You will be able to feel and breathe your goals.

  1. Create a plan for achieving your goal

Now your goal is set, you can now move on to the second step. This part can have far-reaching effects on increasing your chances of achieving your goals. Once your goals are clear and set, start preparing the list of everything you will have to do to achieve your venturesome goal.

The list should contain what all things you need to do to put you in the position for success. For losing weight – morning walk, exercise, drinking water, healthy diet, good sleep, not using the vehicle to cover short distance etc. can be part of the list of things to do. The list can be exhaustive, failing to make a list greatly minimises your expectation of achieving your goal. There can be 100 different things in the initial stage, write them down, seriously write them down.

  1. Work on your plan on consistent basis

The above two steps are important but third and the last step is the ultimate step which identifies goal setting and goal achieving. Many people spent their time and energy looking for a secret formula that will make it easier to achieve their dreams and goals with a minimum of efforts and time.

In practice, there is no such thing. If someone says that it exists, then he is selling you untrue hopes and wish. Looking at all the successful men and women, one can see the trend that they were persistent and consistent with their actions on daily basis daily reading or daily walking or daily excising.

Few things from your list will have to be done on daily basis. Certain things can be done per week or monthly basis. Day in and day out moving towards your goal bit by bit, step by step in a consistent, uniform and regular manner will develop a habit and you know habits do not die.