5 new year’s business resolutions for small business owners
In the last four years, 20 million new business applications have been filled, making it a historic period for entrepreneurship. To help bring this momentum into the new year, we’ve put together five resolutions for small business owners to remember.
1. Revisit your business plan
As an entrepreneur, your business plan offers strategic direction and a clear roadmap to reaching short and long-term goals. Revisiting your plan provides the opportunity to step back and determine what you should focus on in the months ahead. Look back on your financial gains and losses from the last year to adjust your plan to better suit your business needs. Take advantage of these free business plan templates to chart your success for the new year.
2. Sharpen your digital marketing skills
While having a fresh business plan is essential, up-to-date digital marketing skills allow you to actualize the key aspects of your plan. Since the digital landscape is expansive, you can sharpen your digital marketing skills by honing in on one or two key areas, like researching current social media platforms and trends or implementing new search engine optimization (SEO) strategies. The key here is to know your audience and determine the best online platforms for marketing your business to ensure you make the most of your digital resources. Looking for more ways to enhance your skills? Learn more about digital marketing for small businesses with Verizon’s Small Business Digital Ready resources and LinkedIn Learning’s free marketing courses.
3. Stay informed on the small business landscape
Emerging technology, a new White House administration and Congress, and shifts in federal laws make 2025 a year full of change that could impact your business. Avoid being unprepared by assessing the current small business landscape and understanding the outside factors influencing your success. This can mean staying updated on government regulations and programs through official federal agencies like the Small Business Administration or researching additional context from reputable business news sources like CNBC, Business Insider, and the Wall Street Journal. Additionally, staying informed on changes to labor laws in your state can help you understand how local politics could impact your business. It is essential to be nimble and informed to effectively navigate the political and economic shifts in the upcoming months.
4. Review professional development resources for staff
A thriving business can only be possible when its staff’s professional needs for growth and advancement are met. Reviewing the previous year’s professional development options and employee benefits and looking for areas of improvement ensures your staff can continue to learn new skills and invest in areas of personal interest. This will not only improve the skill levels of your team, but investing in professional development resources gives your staff a greater sense of confidence and can boost employee morale and retention.
5. Invest in updated technology
Set yourself up for success by investing in new technology and software. While it is important to have foundational applications that you and your team are familiar with, researching and implementing new software ensures you're using the most up to date technology for your business. Website builders provide small business owners with an accessible way to establish a professional online presence without requiring extensive technical expertise. These tools cater to a wide range of users, offering platforms designed for varying levels of knowledge and specific needs. Email marketing platforms like Mailchimp and HubSpot offer small business owners powerful tools to connect with their audience, promote products or services, and build lasting relationships. Overall, investing in upgraded technology keeps your business current and competitive in the marketplace.