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18 Things You Can Do Better for Business in 2018

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It’s a new year!

New year, new resolutions, new opportunities.

2018 is a year of possibilities, but only if you make an effort to improve.

This year, make your resolutions less about you and more about your business.

Analyze and audit your budget

How much money did your business spend last year? Did all of those investments or maintenance costs do what you wanted them to do? Go through your budget carefully to look for areas where you can cut back spending or reinvest for greater growth and profit. There is no sense throwing good money after bad – especially if you didn’t realize just how much money you were wasting.

Investigate your tax situation

If it’s been a few years since you sat down with an accountant, it might be time to do a bit of digging. What is your current tax situation? Are there investments you can make that would pay off in deductions? Are you paying more in taxes than you need to? You should know the answers to these questions and be ready and knowledgeable about your tax position every year.

Update your websites

Website Should Change

Website Should Change

Websites always need fine-tuning, but have you gone through yours lately to check for broken links, out-of-date information and irrelevant offerings? Businesses change and your website should be changing along with it.

Expand your web presence

If you’ve been building up your business you may not have taken the time to also build up your web presence. This is a great time to get started with new social media accounts, new forum accounts and a new presence in industry groups and circles. You don’t have to spend hours per day online to have a good online presence, but your name should be out there contributing to industry discussion.

Look for opportunities to reinvent

Opportunities to Reinvent

Opportunities to Reinvent

If you are tired of one area of your business or you would rather take your business in a new direction, use the energy you’re feeling at the beginning of a new year to propel you in a new direction. Reinvent your business or just a single part of your business to be more profitable or simply more enjoyable.

Streamline and look for efficiencies

Waste is the enemy of profits. The more wasted product, time and energy you have, the more money you are potentially leaving behind. Look for ways to streamline your routines and operations so that your business is as efficient and functional as possible.

Look for networking opportunities

The passage of time brings new industry members and new possibilities. Look around for new opportunities for networking both in your area and online. Build relationships with others who might inspire you, motivate you, keep you on your toes, or connect to others when it’s time to take your business to the next level.

Revisit all expenses

Even if you feel confident that your business is running as smoothly as possible, take some time and look over all of your expenses for the year. You should always know where your money is going and how much it takes to make your business run. Consider this information gathering, but it is also an excellent time to look for providers who may be able to shave a few dollars off a hosting bill or website maintenance.

Delegate and expand resources

You are only one person and you can only do so much. You can push yourself for a while beyond your typical limits, but eventually you’re going to have to take a step back and find others to help carry the load. Look for areas you can delegate to employees or hire contractors to take on the more tedious and time consuming tasks on your behalf.

Reflect on the previous year

Reflect on the previous year

Reflect on the previous year

Business is about more than money. It’s about relationships, marketing, product development and developing a presence in the industry. How well did you do those things this year? Look back through the calendar to chart your progress in all year and reflect on what went well, what you’ve learned from the experiences and what you can do to make 2018 even better.

Eliminate unprofitable areas

You should always be looking to maximize profits, but sometimes it’s hard to make a cut to a program you enjoy but loses you money. The new year is a great time to take a scalpel or maybe a machete to your business plan and to either slice or hack away at areas that take up time and energy but don’t offer you anything in return.

Organize goals and priorities

What are your goals for 2018? Remember that a good goal is specific and measurable, so “doing better” doesn’t count. Take some time and truly think about what you want to achieve this year and then prioritizes the goals and the steps required to make those goals attainable this year. Remember, also, that some goals take years to fully reach, but those long-term goals should include short-term measures for success.

Upgrade technology and hardware

Many companies have been sitting on infrastructure funds waiting for a more favorable environment. That time has arrived. If you’ve been waiting to upgrade computers or invest in new technology, consider the possibilities and speak with your tax advisor about capital investment costs. It certainly doesn’t hurt to look for a good sale during the slower consumer months of the year either.

Revisit your security

Revisit your security

Revisit your security

Security should be a top priority for every business. Examine your current security plan and see what new options may be available to limit your exposure to risk and ensure that your information and your customer’s financial information is carefully protected. Every year brings new risks, so every year should also bring new safety measures.

Expand your server limits

If you have plans to grow your business, have you also made plans to grow your server? Your server may already be up to the challenge of a growing website and business, or it may wind up limiting what you can do and the directions you can go. Speak with your hosting company to see what options they have available. They may also have new packages that not only expand your server options, but help you streamline or outsource other tasks as well.

Keep an eye on AI

Artificial intelligence, or AI, is increasing and it may have terrific possibilities for your business. It’s not a good fit for everyone, but with new developments, new innovations and new price points, AI may be a something that is on the horizon for your industry this year. Or, it may be something that you might consider well into the future, but you should have industry developments firmly on your radar.

Look at costs and returns in advertising

How have you been advertising this year? Many of the more traditional means of advertising are becoming less profitable as audience preferences are changing. If you haven’t changed your advertising strategies in a few years (or even a few months) check to see what returns you’re actually getting and make some plans about how to try other forms of advertising where appropriate.

Reinvest in yourself

Finally, if you are like most small business owners, you’re close to burning out at any time. You have been working extremely hard to get your business up and running and sometimes it feels like profitability and sustainability are done simply through sheer will power. If you’re running on fumes, take some time this year to invest in yourself. Give yourself permission to outsource some tasks, to take a vacation, to relinquish some duties to employees so that you can grow as a person and avoid working yourself into the ground.

While you may have resolutions in this New Year to eat more vegetables or cut back on coffee consumption, the New Year is a perfect opportunity to improve more than your diet. This is the time to look closely at what has been working in your business and what hasn’t and then develop a plan to make 2018 a year of growth, exploration and additional profitability.

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Oleg Kaluger

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Comments

32 Comments on “18 Things You Can Do Better for Business in 2018”

  1. Joy Healey says:

    Hi Oleg,

    An interesting article for the new year.

    I have certainly been re-evaluating my business for the last few weeks. Mainly along the lines of your last comment – that I should stop working myself into the ground! Towards the end of 2017 I was experiencing extreme burn-out, and it’s not worth doing that.

    So I’m taking much more time for myself in 2018 and going forward.

    Joy Healey – Blogging After Dark

    • Oleg Kaluger says:

      Hey Joy,

      Thank you for the comment,

      Great to know that you are trying to give yourself more time, which is a great idea. I have seen serious burn-outs myself by working throughout the day and then stretching it towards the night without taking any rest. For us, bloggers – since we like our work so much, it is easy to overwork and burn ourselves and hence we need to be careful about it,

      thanks,
      – Oleg

  2. Sadhan Pal says:

    Hi Oleg,

    Useful 18 things you described for success in business 2018. As a blogger, I will follow this 18 things to get new success in new year. Thanks for this article.

    • Oleg Kaluger says:

      Hey Sadhan,

      Welcome to Temok and thank you for the comment,
      Try to get a Gravatar for your profile image, that way your photo will be displayed next to your name,

      Let us know when you apply the tips,
      thanks,
      – Oleg

  3. Hi Oleg,
    These are awesome tips to acquire a better business model for 2018. I especially like organizing our goals and priorities. I sure have spent a lot of time strategizing that one! My fiscal year is 11 months and I like to keep the month of December the time when I like to prioritize my goals. Plus checking my security etc.
    By January I like to have things in motion. I like to re-evaluate my business in a quarterly basis and check how my goals are doing. Sometimes the goal is finished within a few months and I’m on to the next one.
    The new year brings in many promises we make ourselves. But the most important one of all is our business and doing the things necessary to make it grow. I like to see the new year like that then break it down to mini goals. Accomplishing them one by one is a great way to reinforce myself to keep on track.
    -Donna

  4. Hi Oleg,

    Such great information here.

    I especially like the ideas of reinvesting in yourself and getting rid of things that are not working in your business.

    These are two things I noticed people often are very hesitant to do.

    But like you say you can’t just keep running on fumes alone.

    You need to restructure your business so that it works the way you want it to.

    Have a great 2018!

    -Donna

    • Oleg Kaluger says:

      Hey Donna,

      Thank you for the comment,
      Yeah, one totally needs to get rid of the things that aren’t working out – personally, I always like to keep trying and don’t giveup on things easily, but when you see something that isn’t working out – then perhaps it is best to discontinue it or better yet – change the direction to a more profitable future!

      Happy 2018 to you too,
      thanks,
      – Oleg

  5. Moss Clement says:

    Hi Oleg,
    I enjoyed reading your article. The tips for updating your business and make it better for 2018 are amazing. For example, the success of every business depends on how well the business is structured – terms of budget, etc. That is where analyzing and auditing your business comes to play.

    In this context, you have to analyze and audit to identify what works and what doesn’t work. As well as to figure out where to invest for maximum ROI and where to cut investment.

    Thanks for sharing this remarkable article!

    • Oleg Kaluger says:

      Hey Moss,

      Welcome to Temok and thank you for the comment,

      When you plan about your business for a year or so in the future, it is important to see where your business is going. What are the things that are bringing in more money and what are the activities that are worst in terms of ROI. Here ROI can be more than just profits but it is important to pin point activities that does bring in money and put more focus on them,

      thanks,
      – Oleg

  6. I love these tips! They are a good reminder of what to do while you plan for your upcoming year. So timely, too. 😉

    I am currently in the planning stage for what to do with my year. I have so many varied goals that I know I need to prioritze them.

    Thanks for the reminder about eliminating unprofitable areas. I spend too much time on Facebook and not enough on my blog posts! LOL

    • Oleg Kaluger says:

      Hey Lorraine,

      Welcome to Temok and thank you for the comment,

      We all spend much time on things that aren’t that profitable, ages back I have once done a big change to make sure that more profitable areas gets more time – but in time, things fall back to how it is. Facebook timeline scroll is a big waste of time and needs to be fixed strictly.

      thanks,
      – Oleg

  7. nichy says:

    Hey oleg
    i just come second time your blog and this post was very awesome as i reading last time
    Thank you for sharing awesome knowledge with us

  8. Dino James says:

    Kindly reply me to which hosting is best Dedicated Server or VPS Or Google Blogger Free Server

    • Oleg Kaluger says:

      Hey Dino,

      Welcome to Temok and thank you for the comment,
      There is no direct answer to this question – it all depends on where you stand, what is your budget? and what server resources your website needs.

      If you have a large site or a site that is growing rapidly, then dedicated server is the way to go, but for smaller site – VPS or even a shared hosting is more than enough … I won’t really recommend the free Google server though, just go for a shared hosting if you are starting out,

      thanks,
      – Oleg

  9. Hey oleg the information you share was amazing and very helpfull also.I also write some techie articles on my blog(www.kafil.us).Thanks for sharing your great knowlege to us.

    Cheers,
    md kafilur raheman

  10. There are always a lot of possibilities to improve business. You did give very helpful suggestions here and many can be implemented not only after the new year. I am sure everybody will find a good tip and will find an opportunity to use them. Good is the suggestion to get rid of things that do not work and I like the part about investing in yourself which is often forgotten.
    Thank you for a helpful post
    Erika

    • Oleg Kaluger says:

      Hey Erika,

      Thank you for the comment,

      Totally agree with you, these tips can be applied to a business at any point of time, new year is only an excuse to start working with new motivation – it can be done anyday!

      When something does not work, my primary instinct is to get it to work somehow but we should learn when to give up as well and find new directions which are more profitable and has a better future,

      thanks,
      – Oleg

  11. SAGAR says:

    What if we still fails by doing this 18 things.
    Anyways this article was awesome. Keep up the good work

    • Oleg Kaluger says:

      Hey Sagar,

      Welcome to Temok and thank you for the comment,
      It is unlikely that you will fail because anything that you do online to improve your business – adds some amount of value to your existing business.

      thanks,
      – Oleg

  12. Hi Oleg, Awesome content! I’m a big believer in business blogging. Staying offline at this age is not good for business anymore. There are far too many opportunities missed every day a business does not have a website and a blog. They help in creating a relationship with the customers and any kind of traffic to the site can be monetized for more revenue. A lot of people just forget about that. Thanks again for this list!

    • Oleg Kaluger says:

      Hey Stefan,

      Welcome to Temok and thank you for the comment,

      Surely, it’s 2018 now and if people still can’t get a blog for their business – they are sure to miss out on a lot,

      thanks,
      – Oleg

  13. Mr.Bakshi says:

    This is good one, everyone should aware before a business startup, these 18 sections can give someone an inspiration and the self-confidence for starting a business.

  14. I was looking from many days for this types for post, I will try to do more hard work for my success in new year 2018, I will try to promote my website on social media for my success.

    • Oleg Kaluger says:

      Hey Ansari,

      Welcome to Temok and thank you for the comment,
      Glad to know that you found an article that will help you grow further in the current year,

      Keep pushing your social reach and it will surely help your website in time,

      thanks,
      – Oleg

  15. Naina Singh says:

    great thanks for sharing 18 Things You Can Do Better for Business in 2018.
    this article is very helpful for new startups.

  16. […] just because you’re lacking all that, doesn’t mean you can’t make significant growth for your business. From making an awesome website to marketing your brand, we’ve got the easiest ways to build and […]

  17. I found all above tips and idea unique and worth reading for better business and I will surely it with a network.

  18. Anil Agarwal says:

    Great post Oleg,

    I agree with all the things you mentioned here. They’re really worth doing better in 2018 and always. One other thing I will like to add to the list is “content audit.”

    This is one task that a lot of content marketers dread more than any other thing. And this is because it’s very tedious and time-consuming. However, it’s still worth all the efforts. Once you audit your existing content, you’ll be able to find so many things that are not going on well on your blog, and also decipher some content gaps in your industry you need to fill immediately.

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