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Define Your Business Goals for the New Year

Is your business ready to say goodbye to 2011? While it is always sad to see another year pass by, the New Year is sure to bring a whole new set of goals and achievements! As a business owner, now is a good time to reflect on the past year and make plans in order to improve come 2012.

Here are a few changes your business should be considering for the upcoming New Year:

  1. Pinpoint what did or did not work. Did any of your business plans flop in 2011? Maybe you saw a decline in sales with one of your initiatives. It is important to reflect on these ideas and make them better. Every mistake in business is a learning experience- you can benefit from the negatives and expand on the positives!

  2. Review your target market. Do not make the mistake and assume that your market will remain the same for all these years. Be sure to check out analytics and company statistics to figure out exactly who you should be marketing to. This is sure to bring long-term success.

  3. Redefine employee roles. How have your employees changed during the past year? Maybe you notice that the company secretary is actually a great salesman. Maybe one department has grown so much that you need a micromanager for the team. These role changes will not only please your employees but will benefit the office structure.

  4. Redesign your company website. If your website has remained the same since day one, you are sure to fall off the radar. Search engines are constantly looking for newer and better content to push to the top of the results. A stale website is sure to end up on page 20. To keep your site fresh, consider adding a company blog or an updates page.

  5. Update your coverage. Are you a specialized, nice business? If so, when in the last time you reviewed your technology insurance plan? Manufacturers insurance? Non-profit insurance policy? Every change in your business will mean a change in your coverage, and it is your responsibility to keep up with this over the years! If not, you may fall behind on protection and face an unexpected issue alone. The last thing your company needs is a financial crisis to stall success.

  6. Organize the office. Take time to organize your desk, office, break room and any other area that needs a good cleaning. A tidy and fresh start is sure to get rid of the clutter in your company and your mind.

  7. Embrace social media. Has your company jumped on the social media bandwagon? If not, it is time to! By starting a company Facebook page or a Twitter account, you will be reaching out to a whole new set of consumers. Letting this opportunity pass by will end up hurting your company in the long run; you must keep up with the changing of the times.

  8. Improve your own skills. There is always room for improvement, no matter how long you have been in the business. Set goals for yourself! Pick up a best-selling book on leadership or enroll yourself in a business course. You are never too old to learn a valuable lesson. As you can see, the New Year is the perfect time to reflect and make small changes in your business plan and company vision. Those who refuse to make changes are sure to fall behind on trends and the markets. Do not let this happen to your company; your company deserves to flourish in 2012! Good luck and have a wonderful New Year!

About the Author: Bryan Costello is the CEO of Costello & Sons Insurance. As a twenty-year veteran of the insurance industry, Costello has become well known for pioneering unique coverage for Technology Companies. Additionally, he has been recognized as one of the top 25 Most Innovative Insurance Agents in the country.

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