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Establishing Business Goals for the New Year

Every year, when the ball drops and the calendar changes over, people begin making their New Year’s Resolutions. Many of those resolutions will be abandoned by spring, but there is some value in setting and actively working towards goals at the beginning of each new year. For entrepreneurs, the start of a new calendar year is a great time to take stock of your business goals, and even to make a few revisions.

Find Your Weak Point

No matter how successful your business is, there’s a good chance you have at least one area where improvement is possible. After all, perfection is an unattainable goal, and even the strongest competitors have areas in which they need a bit more work. Start the new year off by honestly and objectively evaluating your business to identify your weakest point. Heading into the new year, this is the area where you should make a point of focusing some energy.

Is your customer service policy in need of some revision? Make a point of acknowledging this area of need and working to update it in the new year. Actively look for flaws in your business model or places where there is some room for improvement, then take steps to address them. Make this the year where you finally implement the changes you’ve been procrastinating, rather than making empty plans on which you don’t quite manage to follow through.

Bolster Your Marketing Plan

The best venture in the world will inevitably suffer if no one knows it exists. Expanding your marketing reach is always a smart move, especially if you’re working with a startup or relatively new venture. Establish a goal of increasing the scope of your promotional or marketing efforts and give yourself a deadline to meet these goals. There’s a world full of potential clients, but you have to reach them.

New Year’s resolutions may come and go, but your business goals can set the tone for the entire year. To boost your chances of meeting those goals, come up with a specific timeline for implementation. If you want to expand your marketing reach, start looking for a solution to put in place during the first quarter. Treat your goals for the new year like an essential part of your business plan, and you will reap the benefits of the changes you can make in 2014.