Three New Year's resolutions for franchisees

Before anyone can really make a New Year's resolution and perhaps change direction, it is vital to review what was accomplished in the past year. Which goals and targets were achieved in the past year and which were not? A business owner needs to conduct an honest 'stocktake' of the current business situation in order to determine the course of plans.

Should some goals not have been achieved, it is important to revisit and clarify these goals and prioritise what actions need to be taken to reach them within a stipulated timeframe. The business owner also needs to gain an understanding of the reason why these were not achieved to set corrective measures in place.

Once the current situation is defined, the next steps can be taken. An entrepreneur does not have the time or resources at his or her disposal to stagnate. In order to progress, a business needs to keep growing and making bigger plans to expand.

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Three resolution pointers

1. Review the progress of your employees - and do something about it
Every business has its top performing employees, those team members who always work hard no matter the circumstances. In the same instance, most businesses also have a fair share of employees who seem to struggle to make a meaningful impact. In 2014, make a point of reviewing employees' progress more often to identify those who hold the company name high and those who are battling to do so. While it is important to praise the 'good' employees for their efforts, it is also vital to work with those who may be struggling in an effort to build them up. On the other hand, upon examining staff, it might also be necessary to take corrective measures should an employee be holding the business back.

2. Be a better boss
Once you know what your employees need to do to progress, make an effort to earn their dedication. This is done by showing them that you invest not only in the work that they deliver, but also in them as individuals. Encourage staff to grow, both within and outside the business, and assist them in reaching these growth points as best you can. The only way to ensure a return on investment when it comes to employees is by investing in them to begin with.

3. Re-connect with customers
The customer is king in any business. You need your customer to make your business thrive. In 2014, make it your mission to reconnect with your customers on a deeper level than in the past year. Whether it is a smile or simply greeting them (by name is always best), personal connections will always go a long way in business. Start by choosing a handful of customers at random each day, week or month (depending upon your schedule) and make a point to connect with them. Strike up a conversation - even the weather is a useful one - and use the time to make an effort. They will be back for more.

For 2014, do not just set New Year's resolutions for the sake of it. Pen down what needs to happen and make it happen according to a timeframe. After all, the difference between a great business owner and a mediocre one is the determination to improve himself or herself and the people in the business.