Small business owners are enjoying a newly invigorated economy just like everyone else in America, offering more jobs to average U.S. workers, directly equating into more disposable consumer income for New Yorker’s to spend on Gotham’s small businesses. This newfound economic uptrend has made small business owners more confident in today’s marketplace, encouraging them to re-invest their hard-earned money back into their businesses, now that 2018 is a much safer looking financial bet than the last decade or so. With the overall positive U.S. business perceptions looking far forward into 2018, small business owners have a perfect opportunity to safely make bolder business choices. With the New Year just around the corner it’s best to start planning your new business strategy now as to not let it get forgotten amid the Holiday Season hustle and bustle. This article will help you to enact a new successful business strategy for 2018 – All in five easy to remember steps.
Step #1. – Set New Goals that Represent Both the Present and the Future
It’s very important to establish what your new business goals are going to be in an ever-growing economy. I know, after so many years of economic uncertainty it’s very hard to not still feel a little bit of financial vulnerability when it comes to the chance of another unforeseen economic downswing.
Feel encouraged, economic forecasts for 2018 are expected to stay strong and steady without a significant slowdown foreseen until at least 2020. Now is the time to re-set the goal post just a little bit farther and a little higher in order to take full advantage of the next couple of years of welcome and much-needed economic prosperity.
Make a new dream list for 2018. Look to the future with a new perspective that’s both clear and tangible in today’s new business world, not based on the past. Then, strive to put together everything that you need in its proper sequence to make your goals strategically materialize next year.
Many important things need to be considered in setting good business goals. Finances, of course, are always going to be a big part of setting those goals. Carefully formulate how much income your business will need in order to give it its best chance at a record year, next year.
Step #2. – Make a More Aggressive Marketing Plan for 2018
A new year should always come with a new review of your small business marketing. This is also, though, normally one of those business aspects that “if your current system isn’t broken then don’t try to fix it too much.” But, with a new economy, it might be prudent to revisit your options as far as a larger target market is concerned. 2018 is starting to be a good looking year for business expansion. Just like your business goals, also keep your business marketing goals both focused and achievable.
It’s also advisable to get a pad of paper or your laptop out and write a list of both your businesses strengths and weaknesses. This is very important in marketing as your perceived strengths must be highlighted to the fullest to the masses and your businesses weaknesses (every business has one) hidden from obvious view from the public while being adequately attended to.
The old business adage S.W.O.T., (Strengths, Weaknesses, Opportunities, and Threats) works well with both business goals and marketing plans. The New Year will still bring in plenty of new unforeseen SWOT’s to deal with as well, even in the best of business economies.
Step #3. – Always Prepare for Next Year’s Uncertainties
The best way to shield your business from the uncertainty of 2018 and beyond is to get your small business balance sheets in order for the New Year. There are always unexpected business downturns, even with a currently golden Stock Market. The Great Recession has finally left the back of both the consumer’s and the business owner’s minds and has left in its place – careful optimism.
Unexpected business expenses always happen throughout the year, no matter what year it is. So still keep the business emergency fund replenished and ready for anything, but, don’t forget to utilize that expansion and remodeling fund as well in 2018.
Step #4. – Reinforce Your 2018 Business IT.
Computers are at the heart of all modern businesses transactions. Without computers, people can’t pay their bills, use debit or credit cards for purchases, and the business world suddenly screeches to an abrupt halt. That’s why it’s so very important in the modern age to properly keep up the integrity of a business’s vital Information Technology system.
The IT system should be secured with the latest virus protections for 2018. Cell phones, USB connections, cloud servers, flash drives, and a slew of other common potential digital infiltration points to your business and client data are all potential gateways to an embarrassing and financially devastating computer virus on your business computer.
Step #5 – Hire More Qualified Employees
Good employees are always at the heart of any successful business. But, great employees make that successful business. With today’s low unemployment rate expected to continue for the next couple of years, good employees are going to get harder to find as everyone else scoops them up in an increasingly competitive employment market and a progressively shrinking employee pool.
Investing in great employees in the New Year is literally investing in the future success of your small business. It’s well known that one good employee is far more productive than two bad ones. Small businesses are going to have to get used to offering potential employees some kind of extra incentive in order to entice in new, well-educated, and properly trained workers in 2018.
A Happy and Successful 2018
Every year, as we have already said, is going to bring in new challenges to a small business. Perseverance, hard work, and solid business ethics is the foundation of a strong and stable small business. 2018s lending atmosphere already looks much rosier than 2016s. Responsible small business owners with good employees and happy returning customers are much more likely to receive loans from lenders and investors in today’s economy that in the past ten years. Following these five simple steps to revising your business, marketing, IT security, and human resources plans for the New Year is something to get started on today, not next month. This will give you all of December to not only enjoy the holiday spirit with your friends and family, but also to enjoy the happy and hopeful business spirit that is being invigorated back into New York City in the New Year.
Get in touch with New York Gates today at 718-614-0616, they’re the top professional gate and garage door manufacturers, installers, and repair specialists in the whole five boroughs. Your imagination is the limit when it comes to them accommodating your remodeling plans. E-mail them at [email protected] with your project specifics and NYG will reply back to you with the detailed answers to your questions.