Each new year, many people sit down, evaluate their past year and decide to make certain changes to achieve their goals. The most popular ones include: lose weight, eat healthier, improve the quality of relationships, quit drinking and/or smoking and so on. Resolutions are not only confined to personal lives. Small business owners need to make business resolutions as well in order to become better and take their ventures to the next level. Here are 6 business resolutions a small business owner can make in 2017.

1. Stay up to date

Staying up to date means knowing what’s going on around you in terms of technology, health and industry trends. Find out what’s new in your market and what’s trending. Always compare prices to know where you stand with your competition.

If you conduct your business online, follow blogs that relate to your business to find out what’s new. Look for new ideas to improve all areas of your business. Discover the latest applications used to deliver services and update your website (if you have one). If you don’t have a website, create one to market your business.

2. Get mobile friendly

With the world going digital, learning how to use mobile applications is important for any small business. Many companies are choosing to provide services via mobile apps they have created for their business. This makes conducting business easier and it also cuts operational costs.

With a lot of people using social media, being visible on social networks is a great marketing tool for any small business. You can advertise your products and services at a lower cost.

3. Hire an accountant

Many small business owners don’t see the need to hire an accountant because they feel they can handle their cash flow. A lot of money is lost this way because it is not possible to track every transaction made. Some details may be skipped out resulting in unbalanced books. Hire an accountant this year to keep a record of your transactions and note where money is lost and what can be done to avoid it. Also note what products or services make the most money so that you can market them more.

4. Network

Networking is one of the top New Year business resolutions you should make this year. Get word out about your business to more people. Networking builds relationships that can create a lasting impact for a business. It leads to creation of more business opportunities and exchange of valuable knowledge. A small business owner can also raise their profile through networking.

5. Put money back into the business

Picture this scenario: Maina buys 20 pairs of shoes for sale. He successfully sells all of them and makes 40,000 shillings. Maina realizes he needs school fees for his son, so he uses 35,000 shillings to pay it. He uses the rest of the money for house shopping. The next month, Maina will be looking for fresh capital to restart his business. What if after making the 40,000 shillings Maina put all of it back into his business? He would have bought more shoes and made more money.

As a small business owner, do not rely on your profits for your daily needs. Invest back in the business if you want to see it grow.

6. Keep records

Record keeping is a generally healthy practice for any business. Keeping records will help a small business owner manage their expenses, work more efficiently, manage risks, measure profit and performance, meet legal requirements like paying loans and taxes on time.