Just like us as people, our businesses can make resolutions for the new year. And, just like our resolutions, some of these tend to be lofty goals that never get really made into reality. Yes, I'm talking about you, treadmill-in-the-garage. So, with 2019 around the corner, it's time to make real resolutions for ourselves and our businesses to make the new year our best year. Here are a few ideas for any business:
1. Give Back - We all want to strive to give back to our community more than we already do. It's not only great for our souls, but it's also a great look for your business. Nothing gives easier and better goodwill for a business than giving to the community. Maybe this means serving on a committee or board of a local charity organization, volunteer, sponsoring a fundraising event, or simply donating to a worthwhile cause. There are many ways to give back, even without finances.
2. Reinvest in yourself - At the end of the year, businesses can often be flush with revenues and cash. Using those extra reserves to pay down debt, expand your business, or invest in new equipment or software to make your business more efficient can all provide additional benefits and dividends to your business throughout the year.
3. Lose Weight - We'd all like to lose some weight every year. Especially after all the holiday binge eating! The same goes for our businesses and trimming extra fat. With holiday shopping over, retail businesses often reduce labor costs. It's also a great time to review supply chain and logistics processes, and find bottlenecks and redundancies that are costing you money. If vendor contracts are coming due, it's also a great idea to renegotiate to get better rates and deals.
We all have resolutions we can make for ourselves and our businesses. The Dills Law Firm is always here for our clients to help make goals and resolutions achievable realities. Together, let's make 2019 your best year!
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