Here are some tips from the Montana Women's Business Center to help make your 2019 a successful year!
For a downloadable version of this list click here
1.) Keep People Front and Center
• Entrepreneurship is about people, whether that's customers, employees or investors.
2.) Catch up with your customers
• Check in to see if they need anything in 2019
• What new products or services you are offering in 2019 that might give them the competitive edge
• Lets face it, we need our employees to be out there kicking butt
• Check in on what motivates them:
*If money or becoming a manager motivates them, put together a career ladder for them to visually see what they need to do to move up in the company
*Include raises or bonuses at each level
*Include certifications at each level for them to advance
• See what they need – retain good talent!
• Trainings? Check in with your Department of Labor to see if there are training grants for your employees to get new certifications. In Montana, we have the Incumbent Worker Training Grant to help cover costs
4.) Referral Sources
• Take them out to coffee or invite them into the office to see what you have been working on
• These folks are your cheerleaders
• Ask them for reviews on your social media pages and you return the favor
5.) Focus on your profit margin
• Focus on increasing your margins, not on more revenue
6.) Work on your business, not in your business
7.) Think in New Ways
• Look at what your customers or community needs are and address it!
• Do we really need another brewery?!
8.) Its OK to say No
• If it’s not in your wheel house its okay to say no or bring on independent contractors that know what they are doing to help you do the job well.
• It can sometimes create demand
9.) Work on your exit plan
• Is your business worth anything?
• Accurate bookkeeping
• Profit margins
• Healthy business – does the business provide benefits to you and your employees?
• Build your team of experts and advisors including an accountant, financial advisor, insurance agent, business lawyer
10.) Protect Yourself
• Do you have a plan for your business if anything happen to you?
• Do you have a keyman life insurance policy on your best employees?
• Disability insurance
• Life insurance