Top 3 New Year's resolutions for your small business' success.

For most of us, New Year’s resolutions are about personal goals: weight loss, saving money, better nutrition, etc. But these intentional objectives can also apply to the small business you pour so much of your time and energy into. Make the following commitments in the year ahead and you are sure to reap many rewards.

1. Foster an environment of positivity and respect in the workplace.

It does not require a degree in behavioral psychology to understand the impact that an upbeat, employee-centered environment can have on every staff member. Fortunately, creating a place where workers feel cared about and listened to doesn’t necessarily need to cost a lot of money. It’s more about how you and your management team act.

Here are just a few steps you can take to change the vibe in your company or store.

• Make all feel welcome and needed. Whether someone washes the dishes or sits in the boardroom, each person is equally integral to the success of your company. Make sure everyone understands your business as a whole and how their role combines with the work of others to create overall success.
• When someone excels, celebrate it. Even a heartfelt “thank you” goes a long way to provide encouragement, not only to the person receiving it but to everyone around them. If you can afford it, you might also occasionally recognize superb wins with bonuses or other tangible gifts.
• Keep your door open. Schedule meetings with everyone on staff on a regular basis to discuss how things are going, answer questions, give encouragement, and troubleshoot. This gift of your time shows each employee that they are important and their voice matters.
• Make sure training, re-training, and skill development are priorities. Whether it’s honing up on existing skills or gaining new ones, this is a great way to keep workers engaged and alleviate boredom. It might just improve your retention rate, too.
• There are no downsides to having motivated, happy staff members. Their personal attitudes are bolstered while the job site becomes a place of productivity, collegiality, and fun. Perhaps best of all, the feeling filters down to your customers.

2. Take care of yourself.

Making the people who work for you a top priority is important, but it can be all too easy to forget about that other person, the one who works longer and harder than anyone else and often gets the least recognition of all. Of course, we’re talking about you. Finding ways to reward yourself isn’t the least bit selfish or misguided. In fact, in the end, it’s one of the best moves you can make for the long-term health of your business.

Here are just a few ideas that you can implement to give yourself some much-needed recognition.

• Set goals — and rewards. When you meet a benchmark that you have established, recognize your accomplishment with a gift to yourself. That might be anything from a quiet walk in your favorite park (without your cell phone) to a morning on the golf course.
• Don’t be shy about asking for help. Martyrdom is highly overrated. It’s stressful and usually goes unnoticed. When things get difficult or you need a break, don’t be shy about asking for assistance. Even if you have to pay for it out of your hard-earned dollars, it may be worth the sacrifice.
• Remember that learning should never stop, even for you. You started your business because you were passionate about the products or services you sell. At times, the daily grind can dampen your fire, but not if you commit to remaining aware of cutting-edge developments or merchandise in your field. Trade shows, fairs, fashion demonstrations, and sales conferences are all great ways to ramp up your enthusiasm and stay highly motivated.

One more thing: We can’t move on without underscoring the importance of adequate rest and good nutrition. After all, a healthier you is a more productive and happy business owner.

3. Use your point of sale hardware to its fullest potential.

Pound for pound, your point of sale system is one of the most productive aspects of your entire business operation. Although it certainly is an efficient and highly secure way to accept payments, this solution does a whole lot more. Here are just some of the talents today’s POS systems bring to the table. 

• They serve as a conduit for numerous payment methods and choices. Most POS systems come with contactless card readers that allow for safe, touchless transactions. Additionally, they can be configured to accept ACH, cryptocurrency, recurring billing, and even international currencies. Boosting your payment flexibility leads to satisfied customers and more sales.
• Database capabilities that allow you to gather customer information and build records that can be springboards for exceptional marketing campaigns.
• Keep track of your stock from delivery to sale. Your system’s inventory management tool should let you monitor the progress of every piece of merchandise from the time it enters your warehouse until it leaves in the hands or electronic shopping cart of your customer. Consequently, you have a real-time idea of which items are in stock and which need to be re-ordered, reducing costly overages and shortages that make customers frustrated.
• Take control of billing. You can’t afford to have outstanding debts. Thanks to your POS system’s easy invoicing tool, you can drastically reduce the effect of delinquent payments. The system can automatically generate and send bills that can be paid online or in person. Although there will still be times when you need to talk to a customer directly about their outstanding balance, most late bills are due to error or forgetfulness. With the right POS system in place, you can place your focus squarely on the tasks that require a human touch.

You probably already have a modern POS system. However, if you don’t, upgrading can be surprisingly easy and affordable. Just talk to your merchant account or payment services provider.

With the new year on the horizon, isn’t it time that you give your business the same goal-oriented attention you reserve for yourself? Simply by committing to enhancing employee relationships, making self-care a priority, and harnessing the power of your POS system, you can bring about impressive changes in virtually every aspect of your business. For that matter, why wait until Jan. 1? Start the transformation today!