New Year’s Resolutions for your Small Business

The end of the year is a good time to reflect on your business's progress over the past year and plan how you want your business to develop.

Are you a smart player who grabs the best opportunities available even in a slow economy? Are you brains fried over all that research on Digital transformation? Have you always known few dramatic changes are needed to turn the direction of your business growth? Are you waiting for the right time to kick-start and pump some fresh blood into your business? Wait no more! Ring in the New Year by putting your plans into action! We have rounded up few New Year Resolutions for your small business which would definitely help you capitalise on the opportunities available.

 

I will promote my business more:  The trick is to be present, be seen and be found. You would have built an amazing product, but it’s equally important to build a brand image and brand equity.  Too often the task of promoting a small business slips to the bottom of the to-do list in the press of urgent tasks. One of your top New Year's resolutions should be to hire a marketing expert or take the time to create a marketing plan on your own and follow.

 

 

 

 

 

Take advantage of Social Media which is easy, accessible and gentle on your budge. One could argue social media is critical today as it’s growing at a rapid pace with over 99% of the UAE population being active social media users. Moreover, the user-friendly social media analytics tools help analyse the sales funnel and track social media sales referrals. So you can always work, rework and alter your social media strategy and choose what works best for you. You are connected to thousands of potential customers; you could influence their purchasing decisions by subtly feeding them your brand message. When someone is given a referral or hears  

your business name, their first instinct today is to check you out online. What are they going to find? Try looking yourself up. Is that the image that’s going to win business? Make your social media pages more informative, interesting, visible and actionable by regularly posting blogs, increasing your social media activity through contests, sharing engaging content, capitalizing on trending hashtags etc.

 

I will give back to the community: The CSR activities build goodwill for your company and are a great team-building exercise as well.  There are plenty of initiatives like ‘Day for Dubai’, ‘Year of Giving’, EEGs ‘Save Environment’ initiatives etc. which you could partner with. Find a cause that matters to you and your business and make a difference.  Make this the year that you serve on a committee, volunteer, sponsor an event or make regular donations to the groups in your community that try to make the place you live a better place.

 

 

I will embrace Digital: You might be a pioneer in your business, but it’s equally or even more important to catch up with the latest trends and constantly upgrade – else your business will die a slow death. Look out for new business areas you could venture into.

Make your business e-commerce enabled, the availability of SaaS based services easily enables you to be present on the digital platform. You could be an automobile spare parts dealer, a boutique owner, a home-baker – going the e-commerce way along with your physical store is the future ahead. That way, your products are easily visible and are just a click away.

 


Like many New Year’s resolutions, the list may seem a bit daunting. But the effort involved is worth it - for you and your business.

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