Is it too soon to start thinking about new year’s resolutions? We don’t think so. Without putting thought into what you’d like to accomplish and perhaps do differently in the coming year, you risk complacency in your business. And complacent is a dangerous thing for a company to be. Looking to avoid that unintentional lack of change in the new year? Use these five tips to keep your business dominating in 2019.
- Don’t get too comfortable.
While it’s much easier to stick to what’s familiar, magic doesn’t happen in comfort zones. Be willing to take a few risks in the new year. Take a look at trends in your market. Have things changed since the last time you reviewed your business plan? What your ideal consumer wants and needs can shift quickly. Don’t be afraid to shift with them. If you’re unwilling to go with the flow you may find your business as obsolete as a floppy disk in a computer lab. Your business plan and priorities should be evolving all of the time.
2. Don’t forget about long-term goals.
Short-term goals can be much more inviting. You get a win, and you get to check it off your list a lot sooner. However, focusing solely on short-term wins could lead to a big long-term loss. Make sure you are considering both and that your short-term goals coincide with your big picture. Don’t miss out on opportunity due to lack of looking to the future.
3. Keep your team engaged.
Complacency tends to trickle down. If you are complacent, your team is feeling it. If you aren’t striving to be better why should they? On the flip side, employees who are engaged in their work tend to be happier, more productive, more loyal, and provide better service. You know all those goals you just set? Share them with your staff. Give them insight on just what it is you are all striving for every day. When they do good work, recognize it. Give them a reason to keep working hard.
4. Remember your competitors.
You should always keep an eye on what your competitors are doing. Watching those at the top of the food chain is a no-brainer. They’re at the top for a reason. If you’re at the top (or even if you aren’t) you should also be watching the competition just below you. Odds are that some of them will begin to rise to your level. If you’re already familiar with them, you’ll be less likely to be blind sighted by a move made on your territory.
5. Look for ways to improve.
There’s no such thing as the perfect business. Even if things are going well, there’s always a way to make things better. Realizing this is the best way to ward off complacency. There are various angles to consider when looking to improve your business. Can you increase your return on investment? Are there processes you could streamline to increase efficiency and decrease cost? Are there things you could do to make your employee’s lives better? Don’t wait to address these things until they’re unavoidable issues. Keeping a vigilant look for ways to improve will make for an all-around better environment from employee to consumer to business owner.