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January 3, 2017

New Year’s Resolutions for SMBs and Companies that Serve Them

Submitted by Kelly Glass

It's pretty typical that, when the end of the year rolls around, small and medium size business (SMB) owners think in terms of what is in store for next year. Setting goals and aspiring to new opportunities is part of the entrepreneurial mindset.

Just the same, conjuring up resolutions for the New Year isn't necessarily about making up for goals that were not met last year. Instead, SMBs should feel free to "get over" what they didn't accomplish in 2016 and just look forward.

Website Magazine shared the results of a Constant Contact survey about what business people choose for their New Year’s resolutions. Answers they got from entrepreneurs are not too surprising:

•    "Grow annual revenue"
•    "Run more efficiently"
•    “Gain more customers”
•    "Try different marketing tactics"

Sometimes finding a reasonable set of resolutions is a challenge. Whatever ones your SMBs come up with will likely be more specific to their needs as individuals and as small business rainmakers. Gathering wisdom from the industry resources we read and the entrepreneurs we serve, Idea Custom Solutions found that two general ideas stood out for us.

Trim the Fat: Focus on What Works and Eliminate What Doesn't

A year ago, to start 2016, Entrepreneur served up some suggestions for goals tailored to SMB leaders. Much of it sounded like normal business guru advice:

•    Spend less time at work
•    Eat better to improve health and focus
•    Keep current and be social
•    Hire those who can help business

Reading between the lines, much of what the Entrepreneur article emphasized was that SMB owners spend should remove the unnecessary from their work lives — unnecessary tasks, work drama and habits that can derail them from what they do best.

The St. Louis Business Journal took a more metaphysical approach on the idea of cutting back, stating that ways to make businesses more profitable are to “prioritize marketing” and "identify the biggest time-wasters", as well as use technology or staff to minimize wasting resources on non-core activities.

"(S)tart by making a list of the most time-intensive parts of your day. Whether reading and responding to emails, scheduling . . .  tracking business performance or your accounting, there’s a cloud technology solution for almost all of the inefficiencies that plague small-business owners."

Another way to boost success by trimming the fat, especially if SMBs are one-person shops, is to consider business and personal expenditures that happen during the business day. Listing "12 Actually-Attainable New Year’s Resolutions" Forbes wrote some advice about focusing on the little things.

Among their recommendations: SMBs should reduce the amount of coffee and drinks they buy, walk more and take fewer cabs, Ubers and Lyft rides. They should buy and use reusable water bottles and ditch take-out for a month. All of these small actions can put more money in their wallets and company coffers. Every dollar counts, no matter whether they are company or personal dollars.

Refresh Branding, Marketing and Promotions

One of the first things that the Christian Science Monitor listed in its "Five New Year’s resolutions for small business owners" is that SMBs should refresh their web presences. This can be a very different undertaking for businesses in different sectors. For some, it might mean just an update of content on new products and sales or specials. For others, new logos, website designs or other custom creative designs might be the best ways to drive more business in 2017.

David Kiger, a freight shipping entrepreneur who writes for Business 2 Community, mentions the resolution to "experiment with marketing". Within the article, Kiger put forth a couple of popular promotional ideas:

•    Hold prospecting or educational events in the office or online
•    Launch podcasts or social media campaigns
•    Write and distribute customer newsletters "to see which content generates the most leads"

Adding to these ideas, Kiger writes, that "over the course of the year you’ll gain a lot more clarity into who’s attracted to your business and who’s spending money with you.”

Certainly, anyone reading Kiger's post might think these ideas seem like things everyone is doing. But don't assume that most small businesses are "all set" when it comes to marketing. Many SMBs want help and will pay for the right partners to help them.

We know that many of the SMBs you encounter need suggestions and advice in the promotional arena. Fortunately, the design services we provide to our distributor and supplier clients support virtually any marketing effort.

Idea Customs Solutions provides a range of graphic services, from vector artwork and embroidery digitizing to image editing and marketing materials, as well as logo design. Whatever the sector or marketing plans, we can help you assist your SMBs to improve their brands and visibility.
 

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