Kalpana Arya — December 27, 2018 — December 27, 2018
As 2018 came to its end, entrepreneurs were busy addressing tasks, which were left on the back burner for longer than they would have assumed. From expense tracking to website updates, there are many such tasks which get side-lined in the hustle of day-to-day targets.
But now, they have scrambled back from the past and have entered into the New Year with more energy and motivation.
Now is the time when you can take concrete steps to ensure a great first quarter! As Baseball fans often say, “you don’t need a terrible April record for those losses to doom you at the end of the season.” A great first quarter won’t necessarily ensure a terrific year, but any setback, in the beginning, will surely make you fall short of expectations.
It’s time to set new goals and aspirations and ensure a successful year with no critical task falling through the cracks.
1. Achieve Short-Term Milestones
Set your business goals and objectives, which are aspiring yet achievable. Now is the time to define your long-term goals while working on your immediate goals. You need to look out for opportunities of those small but significant wins that set the tone for your organizational success throughout the year.
For instance, you can set the goal of achieving 20K likes on your Facebook page in the next two months. If you do so successfully, you can focus later on engaging those followers with your posts and turning prospects into customers. And, don’t forget to celebrate as you reach every milestone, as it’s getting you closer to your year-end goals.
2. Reinforce on Your Brand
As an entrepreneur, it’s easy to get stuck in the daily grind of business processes and spend each day putting out the fire. But, to make your brand truly stand out, you need to get past the minutia of everyday work and focus on communicating the vision and values of your brand convincingly.
Try listing down all those things about your business which are not quite up to snuff. Figure out those bugs in business processes which are impacting your sales and customer satisfaction index. This will help you buckle up and deliver the outstanding brand experience to customers.
At the same time, devise your marketing strategy around your brand’s unique value propositions and find new ways to communicate with your customers. It’s essential that your marketing initiatives are in sync with the overall brand experience you want to deliver.
3. Address Excuses & Enhance Productivity
What really is stopping you from taking the leap in your business? Is it the fear of failure? Most entrepreneurs believe that any major change in business processes might prevent them from keeping up with the market or managing the cash flow. Instead of letting those excuses control your life, you need to take immediate actions, which are backed by the research on market trends and customer expectations.
Further, you should create a culture where there is no room for excuses. How often do you hear from your employees that it’s not my job, or I have too much on my plate? Rather than getting frustrated over these excuses, you need to address them by monitoring their workloads and creating priority guidelines. Also, take steps to show your employees their value and be more explicit about how they fit into the bigger picture.
4. Reduce Overhead Expenses
Most of your business expenses may seem essential to you at this moment. However, if you start monitoring your expenses closely, you may get to know about the loopholes in creating a thrifty culture. If your employees need to travel frequently, you can also opt for loyalty programs of different hotels to save your company capital. If your staff is spending excessively on business travels, you can opt for corporate travel bundles. Similarly, expenses such as entertainment, fuel, and food need to be monitored more strictly to reduce misuse. The money saved today can go for employee bonuses to further keep them motivated and engaged.
5. Become an Information Sponge
Be a sponge and not a stone! This is the critical differentiator that will define your likelihood of success. A sponge is someone who seeks and absorbs new information tirelessly. They are highly curious and prefer gathering data to transform themselves as a leader and bring a positive change in their organization.
It’s always better to surround yourself with mentors and advisors, whom you can ask questions and consult for advice. When a strong advisor network backs you, you can make smarter business decisions and avert risks successfully.
Wrapping Up
As much as it may seem like a strain on your routine, adopting these tips is necessary to build a more effective team and a profitable business model. When your competitors are doing everything to bag new opportunities in 2019, what’s stopping you from living your success dreams!
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