Expert-led webinar explains seven steps for small business owners to focus on this year
As a new year begins, NFIB’s Small Business Legal Center and Research Centers have created seven resolutions for success this year. NFIB experts Beth Milito and Holly Wade compiled questions they have recently received from small business owners and used those frequently-asked questions to create an essential list of tips for small business owners to consider this year.
“We thought this would be a great way to categorize all of the steps,” Wade explained. “We’ve actually had a number of previous webinars on a lot of these issues but thought it might be a good idea just to go through these basic seven steps of new year’s resolutions as we’re talking about them in the beginning of the new year. Hopefully, they will help you organize and look through your business and plan ahead for the remainder of the year.”
The first resolution Wade discussed was writing or revising your business plan. Many NFIB members have asked if they need a business plan and what should be included if they create one. According to Wade, there are two main reasons to create or revise a business plan:
- It’s a road map of looking at your business operations and all the different categories of business operations, and it’s a document to offer a process of looking through to see where your business might be improved, or areas that might need transitioning, and it offers a good outlook on what business activities you’re doing.
- It is often required by financial institutions if you’re looking to get a loan or other types of financing, so if something comes up and you need to talk with your financial institution you have this document ready to go.
Wade continued with questions to ask yourself when writing or revising a business plan and ways to think through all the categories of business operations.
The second resolution was to create a marketing schedule and strategy. Wade’s top tips for this resolution include:
- Focus your efforts on the right clients
- Focus on building relationships
- Plan your content
Wade and Milito then discussed other important topics such as assessing areas of risk and growth as well as reviewing your customers. Learn what seven essential resolutions small businesses should focus on in 2023 by watching the webinar on demand, and join NFIB experts on Feb. 1 for the next monthly webinar.
