By Karlene Sinclair-Robinson
Happy New Year!
Ringing in the New Year often puts one in mind of a rebirth. The start of a new year brings new life, freshness, a new attitude and, hopefully, a ray of hope that can shine for a while.
What will this year bring for you and your business? Did you plan for 2015 or just hope to make it through? Did you identify what you must do to push through to the next level of success? Have you asked yourself this question yet, ‘why am I still spinning my wheels?’ Or will you stay in the same stagnant waters of failure? Failure is not acceptable. Staying in the failure zone will certainly not get you anywhere, and it will not put money in your bank account.
A business cannot grow without checks and balances. You cannot grow your business without proper management skills. Your small business will not see sustainable cash flow and a healthy balance sheet if you continue to kick the bucket down the road. It’s time to get to work. Real work!
So, if you want to make this year, 2015, one of your best years yet, here are a few things to consider doing:
- Get Real – Make this year, the year you get real with your finances. Knowing what is going on with your business is crucial. When you don’t know how much revenue you’ve generated, what your gross margins are or other pertinent financial details mean you’re not doing your job as CEO, President or Owner of your business. Hiding from your financials can create other problems and jeopardize your business over time. Your ignorance or apathy can aid financial fraud by third parties or even default on financial commitments. This attitude or habit can lead to poor business and personal credit.
- Get Out of Your Way – The mentality of doing everything yourself is neither viable nor logical. Your small business or startup cannot grow or fully function when you try to be ‘head cook’ and ‘bottle washer’ at the same time. It’s time to consider hiring and getting the assistance you need to grow your business. Identify the specific needs your business have and get going on hiring or contracting out for services. Be sure to read the IRS.gov statute on ‘Employee’ vs. ‘Independent Contractor’ status to make sure you stay within the federal guidelines.
- Get Trained – Many small business owners start out with what they know. What you know is not a bad thing; it’s just not enough for building a successful business. AND, what you don’t know can hurt you in business. Taking relevant entrepreneurial courses will help you grow personally, make your business stronger and certainly increase your bottom-line. Sign up for courses appropriate to areas you need further training in such areas as management, accounting, marketing, financing, legal and many more. Whatever your skill-set, be sure to get some training in the areas you are not versed on. You’ll then be able to better delegate to your personnel and be a better business owner overall.
2015 is the year to be very intentional when it comes to your success. Look out for more articles, eBooks, audios and much more, to help you on your way.
Be sure to leave a comment! I look forward to hearing from you.
MASSIVE SUCCESS for 2015!