New Year’s resolutions — we all make them in some form or another. You’ve probably set a few yourself, like finally using that gym membership or cutting back on sugar. But have you thought about New Year’s resolutions for your small business? That’s right, your business needs some New Year’s love, too! 

Business resolutions or business goals can help set you up for success all year. Keep reading for a roadmap for realistic, achievable resolutions and practical tips for the top five must-have, timeless New Year’s resolutions. Let’s kick off the new year with good health for ourselves and our businesses.

Top 5 Must-Have Small Business Resolutions

Ready for a fresh start to a New Year? Follow these tips to take the first step toward setting the right business resolutions for 2024.

1. Set SMART Goals

Rather than chasing a distant, starry-eyed goal that feels galaxies away, begin with something more down-to-earth. Start smaller and smarter. You’ll want to choose a goal that, while still challenging, is attainable through hard work and perseverance. To ensure you meet your goal, break it down into smaller pieces with due dates sprinkled throughout the year (perhaps quarterly); that way, you’ll be sure to stay on track.

The acronym SMART also stands for a specific type of goal: one that is “Specific, Measurable, Achievable, Relevant, and Time-bound.” When you use SMART goals, your project or objective thrives as there’s no room to let anything slide. 

Ready to grow your business this year? Boost Your Small Business with the Power of Hockey Stick Growth in 7 Steps.

2. Use Technology

Understandably, technology today can feel obscure and overwhelming to some small business owners. If you don’t have a degree in computer science, you might feel out of the loop. But rest assured — today’s technology can help you streamline common small business challenges and tasks. For project management, you can choose from a variety of apps like Smartsheet,  Monday.com, or ClickUp. When it comes to calendars and staying organized, you’ve got options there, too, from calendly.com to Outlook to Google Calendar. 

If you’re hesitant to adopt a new method, you can always hire a contractor or company who is — especially if you’re ready to lessen your administrative workload. Guidant Payroll, for example, offers affordable plans that can help you run your payroll in less time and with less manual work. You even gain access to a team of Guidant Payroll specialists who can answer your questions whenever you need them. The time you get back to spend on growing and managing your small business will be invaluable.

And if you need help with bookkeeping and tax, Guidant has you covered there, too. Guidant’s Bookkeeping & Tax is specifically designed to support small businesses like yours, which means no expensive packages filled with unnecessary services or hidden add-ons. 

Even better, all of Guidant’s services are effortlessly combined — allowing you to streamline your payroll, bookkeeping records, and taxes with ease. If you use Guidant’s small business financing such as Rollovers for Small Business Startups (ROBS), or 401(k) financing, you’ll benefit even more from using Guidant suite of ROBS-friendly services. 

Looking for a smarter way to budget for the year ahead? Check out our 6-Step Guide to Financial Planning and Budgeting for the Rest of the Year.

3. Be Flexible

For small business owners, a need for flexibility should come as no surprise. If you’ve steered your business through the stormy seas of the recent pandemic, you’re not just nimble; you’re practically a gymnast in the world of entrepreneurship. Some small businesses like restaurants and cafes were able to change their offerings to takeout during the pandemic — a perfect example of flexibility and success in the wake of uncertainty and turmoil. Others, like shops and stores, started offering in-store shoppers and curbside pickup options.

According to Forbes, you can look at your strengths and differentiators and play up to those. Start by asking yourself a few key questions if you’re unsure what your strengths are, such as: 

• What’s fun about your business that your team enjoys?
• What positive feedback do you receive from customers?
• What unique solutions do you offer?

You might also want to connect with other small business owners and leaders in your community or on LinkedIn to see what they’ve done to pivot in uncertain times. All it takes to be flexible is a little more creativity — something many small business owners already have in spades.

4. Attract — and Keep — Top Talent

Quality employees are essential regardless of the economic climate or outside circumstances. If you’re in the position to make your next hire, make it a smart one. Take the time to think about what type of person you are looking for in the role, and then start the hiring process. If you find a savvy, flexible candidate with drive, ambition, and honesty, add them to your team! 

Remember: Company culture matters, and treating employees with respect and rewarding them for their efforts can go a long way in retaining them. Set up an open and authentic culture, and you’ll reap the rewards of employees who want to stay and grow with your company. Incentives such as a new employee perk will keep your employees happy. For example, you can all vote on a charity to donate to each quarter. Or you could treat your staff to lunch one day a week. Another idea is to provide a subscription to a wellness app, such as one for meditation or yoga. Whatever you choose, involve the employees so you know it matters to them. That’s just one more way to make employees feel appreciated — and interested in staying around long-term!

See Hiring for Small Business 101 to discover when and how to find the right talent for your small business.

5. Make Marketing a Priority

Marketing never goes out of style — and the new year is the perfect time to set your goals for the year, which should include marketing and advertising your small business. Marketing strategies range from digital marketing/social media marketing and email marketing newsletters to sprinkling various marketing campaigns throughout the year. Advertising in other local shops and small businesses can also help you gain potential customers. It’s also a good idea to do some marketing research if you need help defining your customer base so you can ensure you have relevant content. 

Don’t forget to adjust your marketing efforts throughout the year as priorities shift! Having a solid plan and work-back dates to begin the new year can also go a long way towards gathering new customers — and keeping the ones you already have happy and engaged.

For more top-tier marketing tips and strategies, check out our blog on How to Market Your Business Successfully — no matter the economic landscape.

Planning for New Year’s Success

Let’s toast the closing of 2023, thanking the past year for all its lessons and growth as we look forward to 2024 — and all the hope we have in store for the future of our small businesses. Wishing you and your business a happy, successful new year!

If you’re looking for a new business partner this year — whether you’re in need of financing or admin support — Guidant has you covered. From innovative business funding solutions to payroll to bookkeeping and tax, Guidant supports over 30,000 businesses across the U.S. with affordable, reliable services tailor-made to support small businesses. Discover all the ways Guidant can help your business thrive now here.

Interested in starting a new small business in the New Year? You can pre-qualify at Guidant Financial now. 

“Traditional lenders weren’t going to do it. I took a chance on myself that I could grow my business and my 401(k)… And I thought, ‘You know what? I could do this without overhanging debt.‘”

— Stephen Such, Falling Sky Brewing

Read the stories of REAL small business owners who work with Guidant.