For many people, the start of the year is an exciting and energy-filled time. They see it as a milestone. One that allows them to put the past behind them so they can focus on the future. Smart entrepreneurs and their startups will use that energy to their advantage. Here are seven great moves you can make at the start of every year:
1. Take a Look at the Horizon
The start of the year is the best time to take a look at what’s to come. Talk to your team and consider how your market and industry look and how that may affect your startup’s future. Take a look at any and all of your projections and make sure they are grounded in what you know for sure. The more knowledge you have the better prepared you will be to handle what comes.
2. Study the Past
If you want to make your startup’s future bright, look at the past. Take a look at what went wrong and see what lessons your team can get from that. You should also take a look at what you did right, for two reasons. One, this can allow you to codify the strategies that worked, allowing you to refer to and use them more consistently. Second, celebrating your victories and successes can give your team a good bit of morale.
3. Review Your Budget
Properly managed capital is critical to the health and success of a startup. That’s why reviewing your budget is important. If you do not have a head for numbers, hire someone who does. A professional accountant can help you squeeze the most out of every cent you have, from finding out which expenses are tax-deductible to how much your equipment depreciates. The more you get out of the capital you have, the better off your company will be.
4. Improve the Company Culture
One of the best moves you can make at the start of the year is to simply make working at the company a better experience for your employees. Take a look at the company culture you have, and see how you can improve it so working there is more rewarding. Think about your team’s specific circumstances and work around them. If you can, encourage employees to take vacations so they can be more well-rested, more productive, and have a chance to improve their work-life balance.
5. Talk to Your Team
For many people, the start of a year is a time for reflection and thought. Take advantage of that by making an effort to talk to your team. Give people the opportunity to share what’s on their minds regarding how the previous year went, and how the coming year may go. You can make it a group session or have one-on-one talks with your employees, whichever is better for everyone. Not only do you have the chance to gain critical insight from your team, but you can also establish that open communication is welcome in the company.
6. Think Up New Marketing Strategies
The start of the year is a good time to review your company’s marketing strategies. If you want your startup to succeed, you need to stay on point and reach your audience consistently. That means studying the social media platforms that have worked well for your company and figuring out new ways to make your posts and interactions more interesting. The more effort you put into it at the start of the year, the better off your startup will be.
7. Streamline Processes
Finding ways to automate your work can make your company leaner and more profitable while also improving your customer service. If you’re in a field service business — you send workers out to different locations to service customers — ServiceWorks offers an all-in-one package that can replace an entire employee for a very reasonable monthly rate. The software lets you run your business from anywhere and handles everything from taking online orders to planning efficient routes and schedules to accepting credit card payments. It’s everything you need to run a profitable business in one package. Best of all, you can try it for free — no credit card required.
As you plan what to do when the New Year begins, do not forget to be thankful to have reached that far. Many entrepreneurs and startups falter before they can even make it to the end of a year. That you and your team have done it shows that what you’re doing has potential and that your work is not wasted.