From winning new business to embracing technology such as accountancy software, what is your 2017 business goal?

Business goals for the new year may include growth or embracing technologyAs 2016 comes to an end and 2017 looms as a fresh and new opportunity, business owners should take time to reflect on the past year to ascertain whether objectives were met, business aspirations achieved and if not, what can be done better in the new year.

The Christmas period also presents for many some quality downtime, and whilst this is largely meant for relaxation and enjoyment with family and friends, it is inevitable that thoughts of work and the year that lies ahead would come to the fore. It’s a great time to think about business with a fresh outlook.

So to help provide some inspiration for business planning and potential resolutions, we thought we’d provide some food for thought.

Reflect on successes

Think about what worked throughout the year for the business, and why it worked. The phrase ‘success breed success’ is one worth bearing in mind, and often the key to success is to look to what has been done well and ensure that is maintained and built upon. Whether it’s great customer service that led to repeat business or word of mouth recommendation, or a new product or offering that really took off, looking at the reason behind success will help in generating it for the future.

Don’t be afraid to admit the failures

Brushing a business failure under the carpet may be the desired approach, but in every mistake is a lesson to be learned. Thinking about why something didn’t work and what impact that had on the business is crucial, to avoid making the same mistakes. Sometimes, analysing it in this way helps unveil a solution that negates failure in a future similar situation.

Make one solid, viable resolution rather than smaller ones that might be harder to keep

Far better to think about quality over quantity when it comes to new year’s resolutions. Everybody wants to win new business, expand or commit to more networking, but thinking about how that can be achieved within the parameters of the business and available resource is vital to the success of such resolutions. Instead, focus on one key element that could be key to business growth, and make it the mission to achieve that one goal.

Embrace technology such as accountancy software

Technology is all around us, expanding exponentially. Those businesses that embrace change and the rapidly evolving technological forces will be the ones who will succeed not just now, but also will help to future proof their business. For small businesses, it is worth considering technology that will help streamline functions that take up time and prevent the focus being on business growth. Accountancy software is one small technology implementation that could make a huge difference. At Adams Moore, we offer Xero online accounting software – an intuitive, user-friendly system that manages all financial functions – from invoice generation and bank reconciliation to expenses monitoring and filing, freeing up time to concentrate on business growth.

So whatever 2016 has held for you and whatever your aspirations for 2017, we wish you all a very Merry Christmas and a prosperous New Year!