Growth & Jobs | Making a new year’s resolution for your business supports strategic direction

At the start of a new year, it is customary for people to set goals that reflect their unique priorities and aspirations. Similarly, entrepreneurs should embark upon a parallel journey of making business resolutions.

Just as personal resolutions guide individuals towards self-improvement, resolutions propel businesses towards enhanced performance, innovation, and a strategic direction. Business operators who take the time to set goals for the year ahead are more likely to thrive and be better equipped to navigate a competitive business environment, financial experts advise.

Making business resolutions yearly is relatable to Denies McLean Campbell, chief executive officer of Visionary Outsourcing Solutions Ltd, a contact centre solutions company based in Montego Bay, St James since 2016.

“We are always in the mode of setting goals. It is important to do so because it furnishes you with the ability to meet and exceed your client expectation, which can result in further growth for your business,” she affirmed.

McLean Campbell said that her business operation is in rebuilding mode following the adverse impact of the COVID-19 pandemic.

“We lost quite a bit of clients, hence we have quite a bit of empty seats. My goal for 2024 is to fill out the entire centre to capacity and, in the same breath, to contribute more to the communities around us, where we not just employ people, but be the game changers,” she said.

She indicated that to achieve her goal of rebuilding clientèle for her business, she would be engaging the services of a broker.

Similarly, Suzet Constable, the operator of Passion Nails and Hair, a registered company located in Old Harbour, St Catherine, aspires to increase her client base for nail design services, and to reorganise her shop space to accommodate two additional tenants, increasing the number of tenants to five.

“I plan to do some rearrangement in the shop to put in partitions for a make-up artist and an eyelash technician,” said Constable, an entrepreneur for the past 15 years.

To ensure she achieves her business goals, she disclosed that she is considering promoting her business online and facilitating clients making appointments online. She plans to keep up-to-date with the latest trends in nail designs by watching online videos.

Sharon Smith, head of the Business Banking Division at JN Bank, emphasised that one of the primary benefits of entrepreneurs setting New Year’s resolutions is the opportunity to establish a clear strategic vision.

“It is essential for business operators to make resolutions that align with their specific business goals and thereby align their efforts and resources towards these goals in order to remain competitive and meet the changing needs of their customers,” said Smith.

“The key is to set realistic and achievable resolutions to ensure success is achieved,” she added.

Smith believes that one resolution which every business operator should make for the new year is to be more customer-focused. This she says should include one’s external customers as well as internal customers, those being the business’ employees.

“Resolutions that prioritise the improvement of customer experience, whether through enhanced services or innovative product development, contribute to customer satisfaction and loyalty. A customer-centric focus is essential for the long-term success of any business.”

Smith underscores that management involving employees in the setting of resolutions plays a critical role in the achievement of those goals.

“Encouraging employees to think creatively, and setting ambitious targets can spark fresh ideas for businesses. When employees feel a sense of involvement, it fosters a positive work environment and boosts morale. Engaged employees are more likely to collaborate effectively, leading to increased productivity and overall success,” Smith maintains.