November 29, 2018 | By Peyton Sawyer

The definition of resolution is a firm decision to do (or not to do) something. Every January when we ring in the New Year, we celebrate new and old traditions that surround the holiday. One of those traditions is deciding upon a New Year’s Eve resolution that we hope will help the new year to be a success.

 

While you may be familiar with picking a personal resolution each year, committing to a New Year’s resolution pertaining to your business may also be a tradition you would like to start. If you see that some changes need to be made in your small business, you can make them for the year ahead! There are several ideas to consider when choosing a resolution, especially for your business. There may be some procedures that you would like to put into practice to improve the business that you have built.

 

Depending on the industry in which you work in, thinking about your business's goals and your shortcomings may help to determine what type of resolution you may want to make.

Keeping Better Financial Records

Keeping an accurate account of your business expenses is essential for any business. It's important for a business, small or large, to keep up-to-date and organized record of their finances. Creating an electronic file can be much more effective then following a paper trail of expenses. By using this form of record keeping, a business owner, like you, will have the ability to retrieve documents or figures in a moment’s notice. This will make life much easier when filing your business taxes, or even providing receipts for vendors.

 

If you are interested in purchasing record keeping software or hire someone to handle your expense reporting, then a cash advance can help you with the capital required to complete that task.

Developing a Good Working Relationship with Your Employees

Make the resolution to get more involved in your business this year. Communicating with your staff is a great way to get started. If you share your business goals for the future, as well as explain what your they can expect from you, and what you expect from them, then the vision you have for your business will become much more clear.

 

You may want to also want to implement an open door policy with your employees. It will provide the comfort of knowing that you are approachable. Creating an environment where your workers feel more confident and appreciated, will go a long way. Employees that like their job are more productive. If morale is up, you profits are more likely to be as well. If you employees feel like part of a team and happy in their position, then they will give their all for you and your business!

Set Aside Time for Yourself

As a business owner, it may be difficult to stick to a set schedule during the week. Making a resolution to dedicate time for yourself and family is important. It will benefit your family, but also our your business. Committing to long hours without any down time can take a toll on you and your health. Not taking the time to enjoy what you have built, can often present an issue for not only you but the success of your business. If you hate the time spent at your business, then you will certainly be far less productive then you would be if you still enjoyed it. Don’t burn yourself out before you gain the financial freedom you have been working toward.