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4 New Year’s Resolutions for Small Business Owners

Businessman Planning


The end of the year is a time of reflection for Canadian small business owners. It’s a time to celebrate your successes and be proud of what you accomplished this year. It’s also a time to think about the things you want to change. No business runs perfectly and there are always ways to improve.


Here are 4 New Year’s resolutions we suggest for business owners:


1. Get more Customers

The average Canadian spends 45 hours online a month. That’s more than any other country and almost twice the global average. Are you making the most of the opportunity to reach people while they’re online? Reaching more people is almost a sure way of boosting sales. The great thing about online marketing is the campaigns you run can be tested. It allows you to make adjustments to ensure you’re allocating your resources in the most efficient way. Putting together and implementing an effective digital marketing strategy can be a huge undertaking. One of our experts can save you time and money – email us at help@411.ca.




2. Improve your Financial Knowledge

In a small business financial literacy test, a staggering 8 out of 10 Canadian small business owners failed to achieve a score of “good or basic knowledge”.  If this is an area where you struggle, spend more time with your accountant.  Take the time to learn so that you have a deep understanding about your company’s financial picture. It will help you make better decisions. There are also many courses you can take that will fit into your schedule.


3. Have a Better Work-Life Balance

More than 40 per cent of  Canadian small business owners work more than 50 hours per week. Only 6 per cent of Canadian employees fall in the same category. Make a conscious effort to limit the amount of time you work. Though you may love what you do, the time away will help you reset and is better for your overall health.


4. Update your Business Plan

You should update your business plan any time there is a major change or at least once per year. Business plans are based on future projections and it’s hard to get the future right. Updating your business plan gives you a chance to approach the project with more experience and make more useful projections. Business is always evolving and smart business owners are proactive about making strategic changes for long term success.


Planning is a key component to achieving your goals. It forces you to think about the smaller actionable steps you need to take to get there. It also acts as a guide to make sure you’re consistently supporting you goal.


Let us know your what your goals are and we will see how we can help. Email us at help@411.ca.


Dwight has a double major in Marketing and Business. He is passionate about helping small businesses grow and enjoys writing to provoke thought and start conversations.