5 Goals Your Business Should Set for 2020

5 Goals Your Business Should Set for 2020This year and, for good measure, this decade, are about to come to a close, representing a great opportunity for businesses of all sizes and industries to look ahead to the future. The end of the year is a great time to reflect on your business’s progress and areas of improvement, coming together to provide you with some insight into how to move ahead successfully.

Here are some goals you can set for your business in the new year and new decade, helping you to stay on track and set new milestones.

1. Delegate, Then Delegate Some More

When running a small business, there are so many things to take care of and tasks to conquer. And as a small business owner, you want to make sure every detail is taken care of. But doing this can end up draining you both mentally and physically. Business owners should make 2020 the year of delegating, learning to delegate correctly and effectively. This will help business owners stay focused on what they have in front of them while giving their employees an opportunity to learn as they go.

2. Market Your Business More

The task of having to promote your business could find itself at the bottom of the priority pile, especially when needing to focus on meeting business goals. However, this is a great opportunity to revamp—or create—a marketing plan to attract new customers and retain current ones.

Take time to create a marketing strategy and follow through with it throughout the year with certain checkpoints. In a survey from SmallBizTrends, more than 50 percent of marketers who have been implementing social media marketing tactics have reported improved sales. Using social media and email messaging as a start, businesses can see major gains in their clientele numbers.

3. Review Your Insurance Coverage

No matter the size of your business or the industry you find yourself in, your business can only benefit from having the right level of protection. While making sure you have the basic business insurance CT options in place, like general liability coverage, it’s also important to look at other vulnerabilities in your business that need coverage, such as cyber liability.

Small businesses are just as much a target as larger companies when it comes to cyber risks, like data breaches and sensitive information theft. Whether it’s a customer email address list or keeping your business’s network safe, having cyber liability coverage will help to back everything up with the right resources.

4. Plan Out Your Business on the Regular

Planning is important when it comes to the growth and health of a business. Planning offers you the opportunity to take a look at what worked and didn’t work the week, month, or quarter before, and can help you with setting new directions and goals. Set aside time every week if you have to in order to get a fresh perspective on your business performance and direction on the weeks and months ahead.

5. Link Up with a Networking Group

When it comes to keeping a business strong and gaining new business, it could come down to who you know. Getting connected with other business people and local businesses can help spark new ideas, refine old ones, and invest in new contacts. This could be done through a group uniquely designed for networking or an organization that’s dedicated to a particular type of business or industry. Making the effort to be part of a growing business community, whether in-person or online, will help revitalize you and your business.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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