Seven resolutions for success in 2018
It’s that time of year again: New Year’s resolutions. Personal resolutions can be tough to keep — lose those pounds or quit smoking — but those of the small business variety can be a whole lot easier and bring you greater satisfaction and success by year’s end.
Seven resolutions to help you succeed in 2018:
1. Find a good accountant
With the new tax bill, your business finances just got a lot more complicated. Most rules went into effect Jan. 1, so you need to know about them now.
One feature is the new deduction for a portion of “passthrough” income. Since small businesses overwhelmingly operate on a “pass-through” basis, this may apply to you. But the pass-through rules have more contortions than a Cirque de Soleil performer, so you need professional help. While talking to an accountant, ask for advice to start preparing for your retirement, too.
Ask your lawyer, banker, or another small business owner for a referral to a CPA (not just a tax preparer) who specializes in small businesses.
2. Focus
As a small business owner, you’re pulled in many directions. To make headway on a project — and to think clearly and deeply about your business — you need some dedicated time to focus on just one important thing. Carve out time in your day, or your week, where you focus on dealing with just that one thing. No email. No texts. No social media. No interruptions.
3. Contain clutter
Focus is hard when you’re surrounded by piles of paper and junk. Go through your stuff. As you pick up each item, ask yourself: “Is this something I truly need?” If it is, decide where to put it, and put it there. If not, toss it immediately. Consolidate and organize those folders and files cluttering your computer’s desktop as well.
And make sure they’re backed up or stored in the cloud. Dropbox, Box and Google Drive are all good storage options.
4. Go on a digital diet
Of course, you can’t work without a computer, tablet and smartphone. But do unplug on a regular basis and look up from screens to gain a fresh perspective. You’ll accomplish more — and feel less scattered — if you’re not checking your email every 15 minutes. Use website-blocking apps such as Self Control and Freedom if your willpower needs a boost.
5. Automate what you can
Stop doing payroll by hand and switch to an online payroll service such as Intuit Online Payroll, Square Payroll or Wave Payroll. Logging onto Twitter every time you tweet? Manage and schedule your social media with Buffer or Hootsuite. Use an email newsletter platform such as MailChimp, Constant-Contact or Emma to create automated campaigns that send out a welcome email to new subscribers, thank customers for purchases or notify them when they abandon their online shopping cart.
6. Get out of launch mode
Thinking about launching a new product or service? Are you always talking about starting your small business but haven’t gotten off the ground? Let’s make it happen in 2018. Develop a plan for your “MVP” — minimal viable product — the least you have to do to give it a meaningful try. Want to open a restaurant? Start with a pop-up food stall, perhaps at a street fair, or even try doing a bit of personal catering.
7. Develop a business plan
In many ways, this is the most important. You don’t need a polished, written document, but you do need to sit down and develop a plan for 2018. Examine what’s going on in your business, in your industry, with your market. What do you need to change? To jettison? To embrace? The new year is the perfect time to do this. Rhonda Abrams is the author of 19 books including En-
trepreneurship: A Real-World
Approach, just released in its second edition. Connect on Facebook and Twitter: @RhondaAbrams. Register for Rhonda’s free business tips newsletter at www.PlanningShop.com.