If I asked you what your New Year’s resolutions were, you’d likely say something along the lines of, “eat healthier food” or, “go to the gym more”. Although these are all great commitments you should be making in the new year, I’m referring to more broad changes that will affect your company and everyone in it. These are changes that, in the long run, will contribute to your company’s growth and success. If you’re in the market to purchase a business but haven’t done so yet, these tips will give you a good idea of what goals you should put in place once you do own one.

Increase your online presence

There’s no better way to kick off the new year than to increase your company’s online presence. Although some companies are surviving just fine for the moment with little-to-no online presence, that’s soon to be something of the past. And once that becomes a reality, you’ll want to make sure you’re prepared. If you’re planning on purchasing a business, you’ll want to immediately learn where your company is at and how it can improve its online presence in the new year.

Embrace social media

Going along the same lines as an online presence, you’ll want to fully embrace social media and all its benefits in the new year. Why? Because it’s free! As I’m sure you’re aware, it takes time to garner an audience on networking sites, so the sooner you start, the better. Business owners can no longer afford to think of social media of the “young entrepreneur’s game”. Social networking is used for everything from weed shops to law firms!

Learn about your company

It sounds crazy, right? You’re the owner, you should know everything that goes on in your company! However, it’s not always that simple. As the owner, you have a lot of responsibilities and sometimes learning about your employees and their responsibilities can be put on the backburner. This new year, make the resolution to understand your employees and their thoughts on the company just a little bit better. Not only will you know how to make their experience at the company better, but you’ll obtain valuable knowledge that can be used to improve your company.

Understand your company’s purpose

Knowing your company’s purpose isn’t as simple as knowing where your product or service fits into the marketplace. Chances are if you sent out a survey to your employees asking what they feel like their purpose is, they will all answer differently. You should make it your goal to get everyone on the same page in the new year. Although everyone has different roles, they should all have a clear idea of what the company is working towards.

Plan more company events

If you want your company to feel more like a team, you’re going to need to plan more events so that everyone gets to know each other. This can be as simple as forming a party planning committee that’s in charge of scheduling and organizing events. If you know someone that would that would love that position, contact them immediately!

If you’re looking for New Year’s resolutions for your company or planning to own a new company in the new year, follow these tips to stay on track and grow your business. For more tips, read part two of this blog.

If you want to buy or sell a business in Boulder, don’t hesitate to contact ENLIGN business brokers today! Our top priority is to create a fair and secure transaction for both the buyer and the seller.