The start of a new year is a great time to pledge to do better financially. This is something many people do on an individual basis, and it’s something you may be doing on behalf of the small business you run.

It turns out that small business owners have a lot of big goals for 2024, according to a recent YouGov survey. A good 27% of small business owners say they would like to expand in the new year, while 23% want to invest in new technology.

Meanwhile, 18% of small business owners want to hire more staff members. And 13% want to improve their employees’ mental health and well-being. 

Your goals for your company might be similar or different. But no matter what they entail, here are three steps to make them happen. 

1. Make sure your goals are rooted in reality

Maybe you’d like to expand your business in 2024. But if your accounting program is showing that your revenue figures decline from month to month, that may not be the best move. And if money is tight, it may not be an optimal time to sign a loan or seek outside financing.

Before you commit to a goal, think about whether it’s a reasonable one given your financial circumstances, and whether the time is really right to pull it off. Consider your personal life when making that choice, too. It may not be a great time to expand, for example, if you’re having a baby in the new year.

2. Make sure you have support from your staff

You may be in charge of running your business, but you most likely don’t work in a bubble. Rather, you probably rely on the support of your entire team to achieve success for your company. 

Before you move forward with your goals, loop your employees in. Hold a company-wide meeting to discuss what’s on tap for 2024, and, if possible, incentivize employees to help you achieve those objectives. 

It’s also generally a good thing to be transparent about the direction you’re taking your company so your employees feel like they’re in the know. That tends to make people feel as if they’re part of a team, which can be a big motivator, too.

3. Figure out what outside help you need — and get it

Maybe you’re looking to invest in new technology for your business. Or maybe you want to shift your focus so you’re advertising more on social media. 

These may be reasonable goals — if you get the right help. Don’t hesitate to seek that help from the start.

Perhaps you’re a really organized business owner who knows your industry well. But that doesn’t mean you’re up to date on the latest software. And you might have experience in print marketing, but social media management is a different beast. Figure out what help will be required to make your goals happen rather than push yourself to tackle everything yourself.

Ideally, 2024 will end up being a successful year for your business. And you can do your part to make that happen by following these key tips.

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