This time of year, many small business owners are looking at
how their business performed last year and trying to figure out how they can
improve in the New Year. Here are some tips to help you start the New Year
right with your small business.
Look at how you operate your business and be sure you are
truly focusing on your customers. Most small business owners would say of
course they focus on customers. But it is easy to get busy with day-to-day
demands and let yourself get into a rut when it comes to your relationship with
customers.
Work to understand thoroughly who your customers are and
what they need. Realize this does not always stay the same and you must be
vigilant if you are to keep customers happy and coming back.
One way to do this is to seek feedback from customers often
and in a variety of ways such as email or paper surveys, social media, or just
asking them while they are in your store. Look at your competition and ask
yourself why customers would come to you instead of them and vice versa.
Use this research and the customer feedback to sharpen your
competitive edge and deliver outstanding customer service this year.
Put to use the financial information based on your business
operations. Too many small business owners keep financial records just for tax
purposes. But accurate and current financial records can be invaluable as you
make business decisions.
So take time to organize and analyze your financial records
and do not be afraid of the numbers. You need to understand and use your
business’s financial statements to have a profitable and growing business. This
year, use the insightful information in your financial records to better manage
your business.
