Create Resolutions for Your Small Business in 2016
The start of the new year is a great time to make a list of resolutions for your small business. Resolutions for your business can help you stay on track in the coming year and ensure your business is meeting its objectives. The following is a list of resolutions to help get you started.
- Be Found Online – Localization is a big tie-in used with search engines, as more people search for products and services locally. Make sure to take advantage of the freebies of registering your business online with Google, Facebook, Twitter, and other such sites, as well as online “Yellow Pages.” Just remember to use the same name, address, and phone number for each listing you create.
- Discover the Source of Profits – Profits are essential to sustaining the business long term. Take the time to figure out what types of sales are earning profits, and concentrate on growing these particular areas of your business. The more profits you earn, the more cash flow you have to reinvest in the business and expand operations.
- Examine Your Customer Base – Do you have more one-time customers than repeat customers? You need to figure out how to increase the number of repeat customers, as they will provide a source for recurring revenues, which translates to profits. In addition, look at expanding your customer base into new areas, such as online, to increase your potential sales capacity.
- Fine a Niche That Is Not Being Served – Take a look at the number of competitors in your particular market segment. What types of customers do they serve? Are they overlooking or underserving a specific customer segment? If so, concentrate your efforts on this niche segment to grow your business.
- Implement a Work Uniform Program – Work uniform services and rentals can help reduce your overall work uniform expenses. When there is employee turnover, you are not wasting money buying new uniforms for every new employee. Rather, your rental costs tend to remain constant throughout the year. In addition, you can eliminate in-house laundry costs, as well as make it easier for your customers to recognize your employees.
- Take Advantage of the Cloud – The Cloud can allow you to have access to the latest software versions, increased computing power, and more, for much less than in-house hardware and software expenses. Plus, using the Cloud allows you to take your business mobile and remain connected anywhere you have an Internet connection.
- Participate in Trade Shows – Trade shows provide the opportunity to put you in direct contact with customers who are interested in the products or services you offer. In addition, trade shows allow you to connect with other small business owners and start building business relationships and partnering agreements.
- Re-Evaluate Your Business Plan – Every year you should re-evaluate your business plan and make adjustments. What objectives and goals did you meet last year? Did you fall short on others? Take the time to review and establish new goals to keep your business on track and growing in 2016.
As you can see, there are several benefits gained by taking the time to create resolutions for your business. For further assistance or more information about starting a work uniform program for your business, contact Prudential Overall Supply today at 800-767-5536. We use sustainable laundry practices and offer a variety of customizable programs to suit your needs.
