Best Small Business New Year's Resolutions
Well, another year has nearly come and gone––you know what that means. It’s time to talk about New Year’s Resolutions! And while we fully support those personal resolutions like getting in more sessions on the mat or getting more veggies in your diet, we’re not here to talk about those. As a fitness studio owner, you obviously already have a handle on setting goals for your health and fitness. We’ll leave the personal resolutions-making to you.
What we do want to talk about is New Year’s Resolutions for your business. The New Year is a perfect time to reflect on your business and take the opportunity to make some powerful changes to improve your studio. Here are our suggestions for the best resolutions to take with you and your business in 2019:
Out with the Old, In with the New
It’s time to let go of what isn’t serving your business anymore. Chances are that not everything you use or produce as a business is going to serve you forever. Old, slow computer? Clunky software? Is a certain class not filling up? Take stock of what is and isn’t working for you in your business and drop what isn’t working. Time to move on and discover new solutions.
Review Your Business Plan
The roadmap of every small business is their business plan. A business plan is often conceived with enthusiasm and foresight, but how often is it revisited? You can’t just set it and forget it. It’s important to go back and review your plan so you can see what progress your business has made in relation to the goals you set. Does the plan still make sense considering everything that’s happened in the past year? Or do adjustments need to be made based on your analysis? A business plan should live and breathe as your business does––make updates if necessary and get back on your journey.
Prioritize the Promotion of Your Business
Because business promotion can be such a daunting and even tedious task, it can easily slide to the back burner in the minds of business owners. But the truth is that you need to get your studio name out there if you’re going to grow. If you keep pushing it to the back burner, eventually your flow of new students will dry right up! Hire a marketing expert in 2019 or sit down and create a marketing plan of your own to carry out.
Grow Your Digital Presence
How up-to-date is your website? Is all the information current? Is it mobile-friendly? Are you consistently producing content that attracts eyeballs? Are you active on social media? Do you have an email list? Are you using that email list? If you answered no to any of these questions, it’s definitely time to set some digital marketing goals. Be sure to include all of these components in your marketing plan and have the systems in place to execute on these goals.
Improve on Your Ability to Delegate
As business owners, we all reach that tipping point where we’ve maxed the capacity for the work we can handle and can no longer do everything ourselves. Then we burn out and are totally frazzled by how much there is to do. The answer is simple but it can be distressing to some entrepreneurs who have a hard time relinquishing control: delegate. It’s a necessary skill to learn as a leader in order to build a successful business. A healthy and growing business is led by someone who knows how to delegate tasks and does so in a way that gives them a comfortable work/life balance.
Expand Your Business Network
Networking is still a tried and true way of supporting the growth of your business. When you’re involved in a community of local business owners or are a member of networking groups, you not only get your name out there but you build relationships with people who can help refer you business. People like to see businesses that are involved. Be sure to include networking as a party of your marketing strategy.
Implement New Habits that Improve Productivity
This is a classic career-focused resolution, but there are always ways to reinforce better productivity. Commit to new productivity habits like scheduling breaks rather than allowing yourself to get distracted by social media while working. Review your to-do lists at the end of the day and recognize what you’ve accomplished.
Improve Your Communication Skills
Misunderstandings from time to time are a given when it comes to human communication. But when misunderstandings are regular within your business amongst your staff and you find you’re repeating yourself over and over, it’s time to take a look at your communication skills and focus in on how you can better connect and resonate with your employees.
Give Back to the Community
Amongst the Millennial generation, profit and presence are not the sole factors upon which we judge a business. We’re wary of corruption and corporate greed, so we care about how businesses care. Businesses that give back to the community make a valuable contribution to society––people want to support businesses that support them. Make it a priority to get your studio involved in a cause greater than your business.
Schedule Time for Yourself
Can you really take pride in yourself as a yoga studio owner when you don’t have a balanced work life and personal life? As a busy business owner, it’s absolutely vital that you take time out for yourself to rest and recharge. If you have trouble finding the time, schedule it in. No, actually––put it in your calendar and commit to that time with yourself.
Enter 2019 boldly and set intentions to improve your business with some of these New Year’s Resolutions. We recommend picking three to five to prioritize and create a plan for so that you don’t get overwhelmed throughout the year and drop your goals altogether. Or, better yet, create your own resolutions and let us know what you’re hoping to achieve next year!