2025 Small Business Resolutions

In 2024, the Enterprise Center gave our list of four resolutions for small businesses to practice in the new year. Now for 2025, we offer a new list of resolutions, offering your business a clean slate where you review what worked in the previous year and what didn’t. Here are five goals to get you started for the new year. 

Adopt Multi-Channel Marketing Strategies

Multi-channel marketing means that as a business owner, you are interacting with your customers on multiple channels including email, SMS, social media, and more. This marketing model is essential for growing a business as it can take around six to eight interactions for a customer to decide on making a purchase. The more channels you can reach a customer on, the more likely you will be able to turn them into a lead.

Improve Efficiency and Operations

Operational efficiency is when a business makes the most out of available resources like time, people, equipment, inventory, and money to deliver products or services profitably. There are always ways to improve how your small business operates. Are there certain processes that can be automated? Is your company using the right technologies to streamline your workflow? When you free up your time and resources, you as a business owner can focus more on strategic areas of the business. 

Some examples of operational efficiency include the following:

• Streamlining the loan approval process in banking through digital application submission 
• Streamlining operating room utilization through data mining and pattern analysis
• Implementing overall equipment effectiveness  

Enhance Digital Presence

Gone are the days when your business could still survive if you don’t have an online presence. We live in the age of digital media where small businesses NEED a website that is user-friendly and optimizable for SEO, has a social platform and following, invests in digital advertising, and produces engaging material all audiences will want to click on. When thinking in terms of a digital presence, it’s recommended to focus on quality over quantity, include visuals, post content at the right time, and create content regularly.

Strengthen Financial Health 

For your business to grow, you need healthy finances that allow you to use tools and resources for that growth. Create a detailed budget for the total year that includes expected income from your business, possible expenses, and savings. Regularly check your cash flow to make sure that you have enough funds to cover all the potential expenses. Also, build a safety net, kind of like an emergency fund, that will handle anything that comes up to affect your business whether it’s external or internal factors.  

SMART Goals are the Way to Go

SMART goals are goals that are Specific, Measurable, Achievable, Relevant, and Time-Bound. Instead of creating a goal that seems distant, it’s good to find goals that are challenging but also attainable. By creating SMART goals, you are breaking things down into smaller pieces with due dates that are sprinkled throughout the year. With any of these goals above, it’s important to structure them using SMART. 

What business resolution will your business focus on first? Happy New Year from us at the Enterprise Center at Salem State University. 

Categorised in: Small Business