We have all heard of the typical New Year’s Resolutions: lose weight, make more money, quit bad habits, get out of debt – the list goes on. This year make your resolution to better your business. Here are five great ways to give your business the boost it needs in 2018:
1. Look at what’s trending. Research what is trending in your industry and figure out how it can help you succeed. Also look at other business movements around the county and learn from what they are doing. How can you position your business to take advantage of current trends?
2. Look at the competition. Competition is healthy. Research who you’re up against: Who are these businesses? What are they doing? Studying the competition gives you the ability to identify opportunities in your industry that you can take advantage of.
3. Look at the overhead. What is your business costing you? Are there less expensive ways to operate your business? With remote worksites becoming more and more popular, evaluate your operating costs; can your employees work remote? Do you need that large office space? Find ways to cut costs that won’t cost you productivity.
4. Drop the draggers. Do you have employees, consultants, vendors or products that are dragging your business down? Drop them! If you have things that are prohibiting your company from growing, then let them go. This is only hurting you in the long run.
5. Celebrate your successes. Celebrate your successful business and take the time to thank your employees. Employee appreciation results in a happier, more productive business environment.
Telhio Credit Union is also here to help your small business succeed. Contact us or stop in your neighborhood Telhio to see what opportunities we have for your small business.
Telhio Credit Union is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Madison, Pickaway, Union, Hamilton, Warren, Butler and Preble counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Driven by its philosophy that members come first, Telhio is committed to the highest standards of responsibility and conduct. Telhio offers a variety of innovative programs, services and products to support its members’ financial needs. Telhio offers 12 branching offices throughout central and southwestern Ohio and nearly 4,000 shared branching locations nationwide. Federally insured by NCUA.
