New Year’s Resolutions Small Business Owners Should Make in 2024
It's a new year, and that means it is time to make a resolution. But resolutions don't need to be personal, they can be resolutions designed to help your business thrive. Taking some time to identify areas of your business you want to change or enhance is a great way to take your brand to the next level.
Making targeted and direct resolutions and breaking your goals down into tangible steps allows for measured progress and meaningful change. However, it can be hard to know where to start with so many different ideas to consider.
To help, SOCA has put together this quick guide of seven New Year's resolutions you can make for your business heading into 2024. We have also listed some SOCA benefits that can help you achieve these goals to make this process easier for you. Keep reading to learn more!
Seven New Year's Resolutions for Your Business
As a new year begins, it is the perfect time to reflect on your business's achievements and identify areas where improvement is needed. Let's take a look at seven different resolutions you can make to improve your business for 2024 and beyond.
Embrace Technology
In today's rapidly evolving world, it is of paramount importance for individuals and teams to constantly seek out new technologies that can enhance their abilities and resources. As technology continues to advance at an unprecedented rate, failing to embrace it can leave us lagging and struggling to keep up with the competition.
To stay ahead of the curve, it is crucial to be proactive in seeking out new technologies that can upgrade our abilities and team resources. This could include exploring the latest software applications, hardware devices, or online platforms that can streamline our workflow, maximize efficiency, and improve overall productivity.
Embracing new technology is one of the best things you can do to keep your business on the cutting edge and vying for the best employees, clients, and customers. Not only that but investing in new technology allows you to automate processes, thus saving your business in the long run.
Invest in Employee Development
Investing in employee development is crucial for the success of any organization. By developing your employees' skills, you not only enhance their capabilities but also foster their loyalty and commitment to the company. Here are some effective ways to invest in employee development.
Firstly, provide continuous learning opportunities. Encourage your employees to attend relevant workshops, seminars, and conferences to keep up with industry trends. Additionally, consider offering online courses or training programs that align with their professional goals.
Such as Magnify Education's empathy course through SOCA.
Secondly, establish mentorship programs. Pairing experienced employees with newer ones allows for the transfer of knowledge and expertise. These initiatives not only enhance skills but also promote collaboration and professional growth.
By implementing small changes designed to help employees develop, you can help your business improve into 2024 and beyond.
Offer Your Employees More Savings Benefits and Retirement Options
Offering your employees more benefits and retirement options is a great way to show them that you value their contributions to your business. It also helps to create an environment of employee satisfaction and loyalty, which can pay dividends in the long run.
SOCA is one of the best resources for such initiatives. We help small businesses provide 401k and retirement options that go toe-to-toe with the benefits offered by even the biggest corporations.
Our 401k plan, offered through the Newport Pooled Employer Plan, typically provides 30%-40% cost savings on your current retirement plan. These savings can help reduce your budget and retain your top talent.
Another benefit SOCA can offer your business is the Anthem Chamber Saver Plan, which provides an extensive array of programs to businesses local to Ohio. Anthem offers affordable plan options geared towards companies with between 2 and 99 employees. Your business can access up to 1.4% savings of Anthem group health insurance through this plan.
Simplify Your Payment Processing Solutions
Offering a wide variety of easy payment processing solutions is one of the best things you can do to diversify your business and welcome more customers than ever before. When you offer a wide variety of payment options through a single source, you not only simplify your payment processing, but you also tell your customers that their convenience is a priority.
One solution for this issue is taking advantage of Elavon Payment Processing, another benefit through SOCA. Let's take a look at some of the biggest advantages of using Elavon for payment processing.
- Elavon allows you to accept payment anywhere at any time. That includes payments on the go, mobile payments, payments by phone, payments by mail, and payments by credit card. -
- Elavon improves your cash flow and ensures that money is transferred to your account quickly, even on weekends and holidays.
- You can save money with solutions that allow your business to mitigate fraud, improve chargeback management, and reduce costs associated with accepting credit card payments.
- You receive 24/7/365 support from knowledgeable representatives who want to help your business succeed.
Look for New Shipping Options and Discounts
If your business relies on shipping products as a key source of income, then anything you can do to reduce the costs of shipping will help your business save in a big way. Looking for cheaper shipping solutions and discounts can go a long way.
SOCA offers exclusive shipping benefits through PartnerShip that can help with this goal. PartnerShip offers exclusive FedEx discounts through SOCA that you will not find anywhere else. These benefits are designed to save you on shipping fees.
Here's a quick overview of some benefits offered by PartnerShip.
- 45% off on FedEx Express shipping
- 45% off on FedEx Express international shipping
- 25% off on FedEx Ground shipping
- 25% off on FedEx Home Delivery
Consider Environmental Sustainability
Environmental sustainability is becoming increasingly important for businesses, as society recognizes the need to address the urgent environmental challenges we face. To effectively address environmental sustainability in business operations, some key principles and strategies can be implemented.
Businesses can focus on reducing waste by implementing recycling programs, reusing materials, and minimizing packaging. This can not only lower costs but also contribute to a more circular economy where resources are utilized more efficiently.
Businesses can also access benefits through the Chamber Energy Program through SOCA. These benefits include free utility bill reviews, savings identification on natural gas and electric supply, help identifying rebates, grants, incentives, and more. Check out the full energy savings benefit here!
Upgrade your Cybersecurity
In today's digital world, upgrading cybersecurity measures is of utmost importance. With the increasing frequency and sophistication of cyberattacks, it has become imperative for individuals and organizations to ensure their personal and financial information is protected. Neglecting to prioritize cybersecurity could result in devastating consequences such as financial loss, reputation damage, and identity theft.
To upgrade your cybersecurity, consider implementing the following recommendations based on the background Information:
1. Use strong and unique passwords. Avoid using easily guessable passwords and opt for complex combinations of letters, numbers, and special characters. Additionally, refrain from reusing passwords across multiple accounts, as this can leave you vulnerable if one account is compromised.
2. Keep software up to date. Regularly update your operating system, web browser, antivirus software, and other applications. These updates often include important security patches that fix vulnerabilities and strengthen your defense against cyberattacks.
3.Enable multi-factor authentication (MFA). By enabling MFA, you add an extra layer of security to your online accounts. This typically involves providing a second form of verification, such as a fingerprint or a unique code generated by a mobile app.
Make Your New Year's Resolutions a Reality with SOCA
Setting New Year's resolutions is one of the best ways to set your business up for sustainable success in 2024 and beyond. By identifying areas where your business can improve, you make your brand more attractive to employees and customers and make your internal processes more efficient.
SOCA offers numerous benefits designed to help your business thrive. We proudly offer your business 401k plans, human resource assistance, payroll outsourcing, energy benefits, shipping benefits, and more.
To browse our full range of benefits, click here, or contact SOCA now to learn more!
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