The "Six for '06" resolutions were developed by AllBusiness.com's team of business experts after a careful analysis of the current business landscape. Taking into account lessons learned from 2005 and information received from the company's recently-conducted "SMB State of the Union" study - the results of which were released earlier this month - the following provides practical tips for businesses to focus on in order to grow and succeed in the New Year:
“Through our research and our team of business experts, we have noted high levels of optimism on the part of today's business leaders. Our 'Six for '06' resolutions provide the practical information needed to match that optimism with tangible business results.”
1. Internet as Your Top Marketer
The Internet is the great equalizer and is often underutilized by small and midsized businesses as a marketing tool. Through a coordinated mix of search marketing, search engine optimization and keyword lead generation efforts; businesses have the opportunity to substantially increase their leads and, ultimately, their bottom line sales.
2. Business Plan: Blueprint for Corporate Evolution
Business plans often incorporate a "more of the same" philosophy, but the most successful companies are those that are constantly innovating - a mantra that starts from the executive leadership and permeates every part of the enterprise. Leaders must develop business plans that stress the need to change and adapt to current market conditions. The plans must also firmly assert that customer-centric innovation is not a project - it's a mindset - a facile, forward-looking approach to every task.
3. People Power
With business growth comes an increasing imperative to recruit and retain people who consistently add value to the enterprise and contribute to the company's success. A targeted human resources campaign leveraging the right mix of job-related Web sites, Meta search engines and other innovative HR strategies insures that human capital remains the most valuable corporate asset in the coming year.
4. Keep Saving For That Rainy Day
Maintaining a healthy cash flow requires careful planning for fundamental operating costs - particularly employee healthcare. A lack of foresight when managing cost centers like healthcare can result in an unexpected dearth of cash and can threaten the entire enterprise. Companies in need of liquid assets should consider the possibility of strategic partnerships that provide an extra boost of cash flow.
5. Stay Step Ahead of Technology
Technology continues to move forward at a rapid pace - providing companies with multiples ways to streamline their internal processes and reduce operating expenditures. Externally, a growing body of research indicates that today's consumers increasingly rely on the Internet, cell phones and PDAs to access information, purchase new products and communicate with family and friends. Businesses must package their advertising/marketing messaging and their product/service offerings for these coveted platforms to remain relevant and visible to today's increasingly tech-savvy audience.
6. Perform Random Acts of Kindness
Performing random acts of kindness improves and differentiates the culture of the firm and the brand itself. Business is all about relationships - and even the smallest gestures are memorable and provide a visceral affinity for the company by customers and employees.
"Next year promises to be the 'Year of the Internet' for small and midsized businesses - where companies will employ strategic search marketing initiatives to generate leads, support their brand and branch out into new markets," says Peter Horan, CEO, AllBusiness.com. "Through our research and our team of business experts, we have noted high levels of optimism on the part of today's business leaders. Our 'Six for '06' resolutions provide the practical information needed to match that optimism with tangible business results."
About AllBusiness.com.
AllBusiness.com is a leading online resource offering advice and solutions that help businesses grow and succeed. Founded in 1999, the Company operates one of the Web's premier business sites, providing practical information and services for business professionals and growing businesses. The site includes how-to articles, business forms, contracts and agreements, expert advice, blogs, business news, directory listings, product comparisons, business guides and more. In addition to its flagship Web site, the Company's content can be accessed by its content syndication program, RSS feeds and email newsletters. AllBusiness.com is based in San Bruno, CA and backed by VantagePoint Venture Partners, one of the leading venture capital firms in the world.
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