3 Goals to Set for Your Small Business in 2020

With the New Year on the horizon, many people have started thinking about what goals they wish to accomplish in 2020. As a small business owner, the coming days will provide you with the perfect opportunity to look back on the progress you’ve made the past 356 days, and to set some new goals to achieve this coming year.

Below, we’ve compiled some tips that we think will benefit your small business and inspire you to set some resolutions of your own for your small business in 2020!

Utilize Social Media

Many small business owners still fail to see the beauty in utilizing social media to benefit their business. When used correctly, various social platforms such as Instagram can be extremely powerful marketing tools, particularly for small businesses. Most, if not all, social platforms are free to use and are a great tool to network with. In 2020, consider working more on your social presence.

Social media also provides you with free advertising and helps to get your business’s name out to communities that you may not be able to reach via conventional advertising methods. If you’re new to social or just getting your feet wet, you can find a few helpful tips here. You can also find beginners’ classes like this one on Youtube.

Go Digital

In this day and age, most everything can be done via your mobile device. Whether it’s a laptop, phone, or tablet, going digital allows you access to everything you need to run your business at your fingertips. It’s likely you’ve already gone digital in some aspects of your business, but there are a number of ways you may not know about.

For example, if you own a business that provides a service, consider utilizing an online booking system. This tool has benefits for both you and your customers, as it minimizes the time spent for both parties and is a more convenient option overall.

Speaking of convenience and speeding up the process, the new year is a great time to switch your business banking over to digital. Setting up an online bank account for your business will save you from waiting in long lines, provide you with around the clock customer service, and give you the freedom to access your account from anywhere at any time.

Keep in mind that it’s best practice to keep your personal finances separate from your business. If you’re currently operating out of the same account, the new year is the perfect time to make the switch!

Reinvent Your Personal Brand

As an owner, you are the face of your business. Whether you employ a staff of 20 or you work on your own, the success of your business is heavily reliant on you.

It’s never too late to reinvent or revamp your personal brand and in fact, it’s quite necessary to re-evaluate every so often in order to keep things fresh. Let this new year be an opportunity for you to take a look in the mirror and make some changes.

The road to reinventing your personal brand is not something that happens overnight, so try to be patient with yourself. You must give yourself time to reflect on all the things you’re currently doing, how they’ve benefited or negatively impacted you and your business, and what you must do to change them.

Think about your unique selling points and what makes you stand out as not only a business owner but a human being. Once you’ve executed your re-brand, step outside your comfort zone and network with new groups of people. This will not only help you to grow as a person, but may also help you to build new, long-lasting professional relationships.

The new year is a time for change and growth, both for your small business and you as the owner. Remember that the success of your business relies on the decisions you make, and sometimes you must be willing to embrace new ideas in order to achieve that success. Incorporating these tips, along with others you may learn along the way, will help to make the next 365 days successful!