Almost on a daily basis, news reports detail the marketplace factors that can affect businesses large and small. No matter what the potentially game-changing information is that is coming out of Washington, D.C., or China, there are winning strategies that not only endure but should be part of every workplace’s culture.
With some merit, analysts are always reviewing contingencies that may change investments by businesses. Most recently, there was the fiscal cliff. But there are many ways to invest in your own business regardless of the economic climate. As a business owner and entrepreneur, here are a few resolutions you should consider to make 2013 the most positively transformative year:
- Consider buying. After a business has survived three to six years and is stable, commercial property ownership is a natural next step with benefits that new entrepreneurs often overlook. Ownership is a path to more stability and long-term wealth, and the government program administered by the Small Business Administration--SBA 504--offers long-term financing at below-market fixed rates.
- Invest in yourself. Often in business, one measure of strength reflects your strength of character, so invest in yourself. Identify business books that focus on areas you need to develop or lessons shared by successful businesspeople you admire. Commit to reading at least one of these books per month.
- Improve your company’s culture. Your company’s culture has a lot to do with your success. Come up with three ideas that will improve your company’s culture and take action on them. Improved health, the most universal resolution, can have a profoundly positive impact on the workplace, from boosting morale to increasing productivity.
- Refresh or jumpstart your marketing. Identify three new marketing initiatives that you can implement on a regular and ongoing basis. Start small and track which ideas seem to have teeth. Remember that repetition and consistency are keys.
- Become an authority in your field: Research publications in your industry and pitch yourself as a media source. This can net you some free publicity later in the year. The key is to focus on media outlets; become a familiar name to the media so that they can turn to you as a reliable source. You have to convince contacts that you know your stuff and that you’re available to comment when there’s news to report. If you simply don’t have time for this, consider investing in a reasonably priced public relations firm.
By Chris Hurn
Chris Hurn is CEO and co-founder of Mercantile Capital Corp. in Orlando, Fla. MCC has earned numerous accolades and has been featured in various prestigious publications, including The Wall Street Journal, Forbes and SmartMoney. Hurn has also been a frequent guest on Fox Business News and PBS. He is the author of The Entrepreneur’s Secret to Creating Wealth: How the Smartest Business Owners Build Their Fortunes, (www.TheEntrepreneursSecretBook.com.