Top 3 New Year's Resolutions for Business

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One of the top New Year's questions around the water-cooler is usually, "Have you made your resolutions yet?" Every year, many pledge to shed those holiday pounds, clean out the garage or finally finish that "To-Do" list of home repairs. Well, while you are improving your personal life, why not take those ideas into your business life? Here are some ideas that might help your customers and your profits:

Shed That Excess Weight

Dead weight in your business can be just as unhealthy as excess weight for your body. As business expert John Schriebfeder says, "Don't get emotional about stocked inventory!" If you have a retail business or a service business that carries some retail products and you have inventory that is not moving, Schriebfeder recommends marking down the original price. He also suggests substituting some items for lower-priced items. Either way, while you might not get a full return on your investment, you may still find that extra profit.

Clean and Organize

Your business is likely no different from many other homes and businesses. There are always those spaces (or people) that are completely resistant to getting organized. Now is the perfect time to change that. Buy a hard drive and scan your vital accounting and operations documents onto it to cut down on paper clutter. Implement a cleaning schedule for your employees. Once you get a protocol going and get everyone involved, you might find that you have a more motivated workforce.

Complete that To-Do List

What better time than the New Year to fix that damaged desk or ditch that ancient fax machine? The "Maintenance Fact Sheet" at nonprofitrisk.org identifies three main categories of repairs: emergency repairs, preventative maintenance performed at certain intervals and predictive maintenance to assess whether repair is necessary. If you do not currently have any of these handled or scheduled, now is the time to start. Equipment that does not work properly or is out-of-date should be included in this itinerary. Injuries to workers and customers cost thousands of hours in lost productivity and millions in lost revenue every year. Proactive measures may mean that your company avoids these types of expensive issues.

Taking what is best about the traditions of New Year's resolutions can help you and your employees get more organized, resourceful and productive. That will likely translate into better customer service. That, in turn, just might help the one thing you definitely want to see expanding-your bottom line!

For more information, please visit:

Throwoutfiftythings.com

Organizedhome.com

Osha.gov

Effective Inventory.com

Nonprofitrisk.org