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Mike Mehren, Ph.D.
Feed/Export Wheat Report

Business Resolutions for the New Year!

Happy New Millennium! So, how was business last year? Do you expect to do the same this year? Let's start the New Year with Lesson Number One: Business owners are in control of their business success.

Yes, the economy, weather, and a few other factors enter in----however, you have greater control and influence over the success of your business than you may realize. Now, at the start of the New Year, is the perfect time to take a close look at how you are running your business.

Make 2001 the year you kick out complacency and welcome new ideas! Now is the perfect time to make a few quick resolutions to do just that. See what happens to your business when you decide: "Just because I've done it this way last year doesn't mean I can't do it differently - and better! - this year."

Ready?

1. I resolve to increase my business smarts. Who among us knows all there is to know about business? At least once every quarter during the coming year:
   
   • Attend one business-related event. You have lots of choices! Consider:
     • a software demonstration
     • a chamber of commerce meeting
     • a talk by a business expert
     • a class through the local college or community adult learning.
       
       
   • Read one business-related book. The choices are almost endless! Where to start? Some quick suggestions: pick up a book by Jane Applegate (creative, easy-to-do and effective marketing ideas) or one of the books in the "Dummy" series. There are so many to choose from, and they are all easy to read and understand. (Human Resources for Dummies, Accounting for Dummies, and more. You may want to start with the web site www.dummies.com)
     
     
2. I resolve to become more Internet-savvy. This is the year! Start delving into some new and interesting web sites that can give you some great business ideas in understanding your competitors, attracting more customers or finding new products. Where to start? How about the Small Business Administration, which has a wealth of information for small business owners. The address is www.sba.gov.
   
   
3. I resolve to give customers more reasons to spend more in my store. Imagine the possibilities! What would happen to your business if customers walked out of the store with more than just the necessities on their list when they came through the door? What would your sales numbers look like if, instead of two items, your customers bought three, four, or even five items? Shoot for the stars! You definitely have an influence over how much your customers buy! Where to start?
   
   
   • Offer impulse items, well-merchandised and carefully selected, at the check out area. Bandanas, hand lotion, lighters, mints, pocket tissues, air fresheners, small flashlights….the possibilities are endless.
   • Change the front of your store. Far too many small businesses look the same, year in and year out. This is the year to break out of this habit. Consider designating a couple areas in the store front for changeable displays. And then commit to changing these areas every two to three weeks.
   • Bring in some exciting promotions on a regular basis. Promotions don't have to cost a lot to entice customers. Need some ideas? Check resolution number one to get you started.
   • Consider partnering with other businesses, like vets, groomers, or other related businesses. Want to try something else? Partner with your local movie theater, car wash, photo studio, coffee shop, etc. In exchange for being mentioned in their ads or radio spots, you give attractive incentives to your customers:
     Attention Customer! Spend $25 (or designated amount) on specified items and get two free movie passes. Or a coupon for a free car wash. Or a cappuccino from the local coffee shop. See what kind of creative marketing ideas you can identify.

This is the perfect year to dust off those good intentions. Get rid of the "we've always done it this way and it's worked just fine" complacency. 2001 may be the year you always dreamed of.