12 New Year’s resolutions for 2023

To the rhythm of the New Year bells, the year resolutions, one for each month. Although these are usually personal, it is also important to establish the purposes of the company.

Whether you are starting a venture or looking to consolidate a business, this is an opportunity to analyze the good and bad that the year left and set the goals 2023, especially after two years of pandemic and one of recovery, which have represented challenges.

Alberto Bonetti, CEO and co-founder of YoFio, says that among the main purposes there are usually: to have higher sales and grow the business, to achieve this an adequate financial administration is required to help overcome the ups and downs that the year brings.

1. Increase profits

Start by analyzing the situation of the business and the competition. From this, you will be able to modify the prices or reduce some costs of the products or services and thus you will be able to calculate whether or not you can have a higher profit margin.

2. Grow the company

If your purpose is to take the company to the next level, then work with a business plan that works as a road map to achieve your goals and that allows you to organize your efforts, have structure and understand your resources and priorities. Whether your business wants to attract more customers, launch a product or service, the plan will allow you to establish the steps to follow.

3. Have better control of expenses

It is important to separate personal income from that of the company, this will allow you to have better administration and avoid confusion when paying taxes, credits, payroll and other obligations. It is also important to have a list of current and fixed expenses, in order to always have liquidity.

4. Improve the offer

Customers have changed a lot in recent years, so it is important to analyze the profile of your consumer and from this define new strategies. Whether you give a twist to the presentation of the product, for example a sustainable packaging or that you expand the line of products or services.

5. Better inventory management

Efficiently managing inventory is key to having a good business performance and therefore increasing your profits. If your business has a well-managed and controlled inventory, unnecessary costs will not be generated and online customers will receive the product on time, while sales will increase in the physical store.

6. Expand the supplier catalog

If your goal is to make the business grow, you may need new suppliers. Make an analysis of the ones you have and determine with which it is necessary to change or readjust the contract; whether you need to expand the line of credit or acquire new materials.

7. Open online store

Selling online is already a necessity. If you are not yet in ecommerce it’s time to do it. You can start by selling marketplace or social networks, but if the objective is to increase sales, it is best to put a page online. Establish a budget and define the new way of working.

8. Improve shopping experience

To find out what to improve, carry out satisfaction surveys where your buyers can give you feedback and thus know which actions they value most. Among the actions you can take are: improve product packaging, accept various forms of payment and provide better delivery and shipping methods.

9. Carry out an advertising campaign

Marketing and advertising campaigns are one of the best tools to reach the target audience. You can start by running campaigns on social networks and gradually strengthen it, with attractive designs and promotions.

10. Get trained

Constant training is essential, this will allow you to learn about new trends and apply them in the business. You can take courses online or in person, there are also free courses that the government offers and that can be taken digitally.

11. Personal life balance

Finding the balance between business and personal life is not easy, but you can start with small actions such as setting a limited time to work and giving yourself free time during the day. Also, you can rely on digital tools to coordinate the agenda and make your day more productive.

12. Find good collaborators

The collaborators are the key piece of the company, if one of your objectives is to grow the business, finding the best workers is essential. Look for those who match the company’s philosophy, who are committed to the company and seek to grow alongside the organization.

These are some of the purposes that you can implement throughout the year for your business. Remember to adopt good practices that make it possible to give the company greater strength and achieve business objectives.