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January 21, 2019
Ask ACE

Three New Year's resolutions that will boost your business growth in 2019

Dean Michaud can be reached at dean@michaudaccountingsolutions.com.

The Association for Consulting Expertise (ACE) is a nonprofit association of independent consultants who value "Success through Collaboration." The public is welcome to attend its regular meetings to share best practices and engage with industry experts. For more information go to www.consultexpertise.com.

Q.: What kind of New Year's resolutions should I be making for business growth in 2019?

ACE advises: Making New Year's resolutions is a common practice this time of year. Taking a look at what you can do in your personal and professional life is a great way to start the year with focus.

Here are three New Year's resolutions to head your business in the right direction for 2019:

1. Invest in the business: Be willing to invest in the right infrastructure to support the growth of your business on a solid foundation. Maybe it's time to install a new customer relationship management system, expense management software or a more robust accounting solution.

2. Focus on improving your financial reporting: When you don't have a clear, up-to-date picture of your financial status, you can miss opportunities for growth, and make poor management decisions. Having a handle on your financial reporting can lead to performance and revenue improvement for you for 2019.

3. Work on implementing more-efficient processes: Take a good hard look at your processes and ask yourself these questions:

  • Do my employees often get frustrated?
  • Does work get duplicated often?
  • Am I wasting resources?
  • Are process bottlenecks causing delays?

If you answered yes, it might be time to consider automating some of the processes that you do manually.

If you follow these tips in 2019, you'll be able to look back on the year and see continued growth for your company and it will likely be running much more smoothly.

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