As we begin the new year, it’s a good time to set some business resolutions, in addition to the resolutions you might have set in your personal life.
1) Resolve to work more fully in your areas of brilliance.
It can be tempting to take all the business that comes in, and to try and make clients “fit” when they just don’t seem to- but the problem is that each time you try and make something work, you may be moving farther away from your own areas of brilliance and unique talent. Sure, it’s likely that you can do many things well- but what if you do fewer things brilliantly? Clients will pay more for brilliant results.
2) Resolve to select for your ideal clients.
So much has been written about targeting your ideal client that I won’t spend much time on that here. There is a key distinction between knowing your ideal client and actually selecting for your ideal client. The first step is to identify who your ideal clients are, and the second step is to take regular and consistent action to find and select them. This means that you focus on marketing specifically to them, and marketing as widely as you can to attract many of them.
3) Resolve to raise your fees related to your experience.
The new year is a good time to examine your fee structure. Chances are that you are more skilled this year than you were last and therefore it might make sense to raise your fees. Even a modest increase can make a difference to your bottom line, and be a subtle- yet powerful- signal to your clients that you are becoming more valuable in your skills and assistance with each passing year.
4) Resolve to streamline your expenses.
Streamlining your expenses can be a good way to retain more profit in your business. After all, it makes little sense to raise your fees, and generate more income, just to have all that surplus exit your business as quickly. Streamlining your expenses means that you reduce where you can, without sacrificing necessity. It’s likely that you’re maintaining at least some services and subscriptions that you aren’t using fully. This might be the time to reduce or eliminate these completely.
5) Resolve to improve your expertise.
The new year is a good time to ascertain how you might become more skilled and more valuable to your current and future clients. Can you add a new skill? Offer a new service? What would your clients be thrilled if you could do for them?
Again, while there are many resolutions you might choose to focus on, these five are key strategies for improving your business in the new year, and, quite possibly, having your best year ever.