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The best way to get started is to quit talking and begin doing – Walt Disney. And with the new year right around the corner, Justin Cobb get’s into the spirit of resolutions. He recently read an article featured on entrepreneur.com that underlines the most helpful tips for taking on the new year with success in mind.
As a business owner and entrepreneur, Justin Cobb makes strategic new year’s resolutions that will benefit not only his own life but also the lives of his colleagues, partners, and clients. Whether it’s to grow market share, provide better training, investing his time in other places, or getting more organized in certain areas of his business, the new year provides Justin Cobb and all entrepreneurs with the opportunity to wipe the slate clean and make new and improved moves. Justin Cobb recognizes that the first step toward achieving goals is to actually set them, giving you a chance to reflect on the year and outline where there might be room for improvement and what didn’t quite work so well.
The article featured on entreprenur.com offer a few great resolutions that can help businesses thrive in today’s competitive environment, beginning with planning ahead. As all successful business owners know, having a formal written plan is extremely beneficial for their business and one should be drafted at the beginning of every year. This can also be reviewed at the closing of the year to reflect and review and make appropriate changes where necessary to suit current business needs and goals. Writing a business plan can help business owners and entrepreneurs to prioritize, and it can assist in determining future obstacles and anticipate how to widely avoid them.
The article featured on entreprener.com recommends jumpstarting your competition for the new year. Justin Cobb agrees that every business owner and entrepreneur wants to get one step ahead of their competitors, and by actively going into the new year with a detailed plan and lots of research on how to beat them, you can approach the start line much more prepared. Spending time researching your rivals before the new year will help you to identify and map out potential customers or clients and perhaps plan your next advertising campaign.
Most importantly there’s making sure to plan and manage cash flow for the new business year. The article featured on entrepreneur.com explains that even companies with healthy growth and strong sales run the risk of owing more than they can pay in a given month. Justin Cobb firmly recognizes and promotes investing some time in preparing a cash flow projection for the new year, as it can help you identify potential cash shortfalls that occurred in 2016. This is an excellent way to reflect on your financial decisions this year and make changes where necessary to maintain a healthy cash flow throughout the year ahead. As a business owner and entrepreneur, it is extremely beneficial for you to get into the habit of using a cash-flow projection, as it will give you extra control of your cash flow and a clearer picture of your company’s financial well-being.
It may seem like a tall order, and we can all agree that new year’s resolutions can seem slightly daunting. But with the right amount of effort involved, it is both achievable and worth it for both you personally, and your business.