12/ 28/ 2007
Bad business habits to let go of in the New Year
Just as in your personal life, making New Year's resolutions is a great way to get a fresh start in your business. Get started on breaking these common bad business habits for 2008:
Not making time for networking: Having a network of other business professionals to call on is one of the most common characteristics of a successful small-business owner. The connections your forge at meetings, trade shows and other business events can help you down the road, whether you're looking for new sales leads or advice on a sticky situation. For 2008, resolve to create new business contacts as well as foster the ones you already have.
Not making time for yourself: Getting away from the office (and putting away your work when you're not there) not only helps you recharge, it can also give you a different perspective on your business. In 2008, make sure you set aside at least an hour a week (and sleeping doesn't count) where you're actively doing something that has nothing to do with your business. Also, don't be afraid to take a vacation and unplug for a few days. Your employees will appreciate the challenge, not to mention the fact that you trust them to succeed when you're not around.
Not praising employees regularly: Be good to your people, and they'll be good to you -- and want to step up to the plate when times are tough. But did you know that motivating them can be as simple as telling them "Great job!" or buying them lunch on a busy day at the office? In 2008, try to compliment a team or an individual for a job well done at least once a week. Also, remember to regularly reward your entire staff. A couple dozen donuts is a pittance compared to what you'll get back in return.
Not setting a financial goal: Too many small-business owners get bogged down in the day-to-day challenges facing their businesses and not enough time looking at the bigger picture. But not having a financial plan for your business can stifle business growth, making handling the day-to-day even more difficult. Create a financial plan with the help of your employees or hire a professional. Either way, make this a priority in 2008 to maximize the potential of your small business.
