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January 2006
The following article was first published in the Eastern Daily Press' 'The Business' on 11 January 2006
What are you going to do to make your business a success in 2006?
It's a New Year - may I wish you and your business a very happy and prosperous 2006!
Now that the felicitations are out of the way, may I ask what you're going to do differently this year to ensure that prosperity? Many of us set New Year's resolutions, often at the urging of friends or loved ones, frequently in an attempt to improve our health or make living with us more tolerable - to stop smoking, to join a gym, to be more tolerant of another's foibles. In any case, they are usually promised in good faith but broken all too quickly.
For those readers who own and run their own business, now is a good time to review the year just gone and to assess honestly what went well and what didn't. This can help you set one or two New Year's resolutions for your business - things that can help you achieve your business objectives this year. This assumes, of course, that you already have clearly set objectives; if not, setting some clear goals (and ways of measuring your progress towards them) might be your first resolution for 2006!
Looking back over some of the articles I've written for this column in the past couple of years got me thinking about the most important issues facing business owners that I come across regularly in my work. I thought they might be a good starting point for setting some other resolutions that might help your business:
 Understand your numbers: I am astounded at the number of businesses owned and run by people that simply haven't got a clue about the key numbers - of leads, of customers, of turnover and, most important, of profit. If you don't know and understand your numbers, make it a priority to change that this year.
 Focus on customer service: without happy, well-served customers, any business is vulnerable. Looking after them well should be the number one outwardly-focused activity of the organisation. If it isn't, make a real effort in 2006 to delight your customers - it will pay back handsomely.
 Look after your people: this is linked directly to great customer service. In today's highly competitive marketplace, just being able to provide a good product or service isn't enough to succeed - it's merely the `entry ticket' to the game. The best businesses differentiate themselves through their people. Happy, engaged employees look after customers better and are more productive. As the boss, take stock of what you do to ensure your people are genuinely your most valuable asset and are treated accordingly.
 Learn to delegate effectively: often one of the hardest things for owner-managers to do, but the key to growing value in any business and to creating more time for the owner to work `on' their business, not just `in' it.
These are just a few of the many issues I see every day in the businesses I work with, but are certainly amongst the most important. If you set only one or two New Year's resolutions that, if achieved, would improve your performance in one of these key areas, it would make reviewing 2006 in 12 months' time more enjoyable, wouldn't it? And, to help maintain your resolve, don't be afraid to share your ambitions with someone else - a work colleague, a spouse or partner or an outside advisor - and ask for their help in holding you accountable for doing those things that will make a real difference in your business this New Year.
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