The Payroll Blog

News, tips, and advice for small business owners

4 Things to Add to Your 2019 To-Do List

Posted On
2/14/2019
By
Chris Bibey

There’s nothing better than the feeling of a new year. While you’re resolutions and best intentions may have dipped a little in the last month, it’s not too late to re-focus and take control of your business.

As the new year continues on, it’s critical to create and review your 2019 to-do list. If you’re unsure how to get started, here are four things you should add to your list:

1. Set Short and Long Term Goals

A laser-like focus on what you want to achieve will put you in position to reach the goals you’ve been dreaming of.

Separate your goals into the following categories:

  • Weekly
  • Monthly
  • Quarterly
  • Annual

Another way to keep your goals on track is to set the right ones in the first place. By setting SMART goals, you’re creating goals for yourself, and your business, that are: specific, measurable, attainable, relevant, and time-based. It’s easy to say that you are going to increase profits this year, or improve your social media presence, but without a specific plan in place, it’s going to be hard to reach those goals.

With these in front of you, there’s no guesswork as to what you want to achieve. The only thing left is to get to work.

2. Ask Your Team What They Need

Is your sales team in desperate need of a new CRM? Does your secretary need a new computer to better do their job? Does your marketing manager require a bigger budget to attend industry conferences?

You’ll never know the answers to these questions – among many others – until you ask. Get with your team early in the year to ensure that you have a solid understanding of their wants, needs, and priorities.

Checking in early is also good to evaluate employee engagement. If your employees are disengaged, the beginning of the year is good to understand what they need more of. With a plan in place to increase engagement, it will be easy to set up check-in points throughout the year.

3. Conduct a Budget Review

Review your 2018 budget with the idea of making changes for the better this year. Just the same, set your 2019 budget so you have a clear understanding of what you can afford to spend, how to save, and the dangers that lie ahead.

Without a budget review early in the year, you could find yourself off track and overspending as the months go by. By overspending, you could find yourself in a position where you are struggling with cash flow, and find it hard to prioritize businesses expenses.

4. Check In With Your Customers

It doesn’t matter how you do this, as long as it’s high on your priority list. For example, if you own a service-based business, it may be feasible to check in via email or phone.

Conversely, if you’re running a retail store or restaurant, an email newsletter or snail mail promotion may be the way to go.

Another place it’s easy to connect with your customers is through online reviews. Spend some time checking any places customers are able to post reviews and see what they are experiencing. Reviews, both positive and negative, have the ability to strongly impact business success. While negative reviews are never pleasant to receive, they can be great learning opportunities.

If you want to take this one step further, create a plan for providing more value to your current customers in the new year.

Bottom Line

While the beginning of a new year is a great time to set your intentions for yourself and your small business, it’s important that you’re also checking in on these intentions and plans throughout the year. You should aim to evaluate your goals quarterly to make sure that they are on track and positively moving towards your ideal endpoint.