4 High Impact New Years Resolutions All Entrepreneurs Should Follow in 2022
Can you believe that the year 2022 is here? Right now, you’re probably thinking about all the ways you want to improve your business operations and increase your overall business success in the New Year. Yes, now is the perfect time to reassess your project management initiatives, customer retention strategy, and HR processes. However, there are plenty of other ways to take your business to new heights in 2022 and beyond.
Learn how to use basic wireframing software to reduce web development costs
As a business owner, do you constantly have to update your business website and add new product listings, testimonials, pages, and other features? Are you also planning to give your entire website a makeover in 2022? All the costs of web development could really drain your business’s overall monthly budget. That said, you can significantly reduce the cost of developing your website by learning how to use basic wireframing software. These days there are many affordable options online that don’t require any programming knowledge!
By creating a wireframe of your concept and code, you’ll be able to give any programmer you hire much clearer instructions on what the finished product should look like. Best of all, you can save programmers money because you can work with less experienced developers who just have to build what you show them (instead of having to figure it all out themselves). I have been a programmer for 20 years and a business owner for over 14 years, and this is the method that has saved me a lot of time and money.
Better prepare for future crisis situations by using geo-arbitrage
It is essential to ensure that your business is prepared for any downside scenario – that said, be prepared for any future crisis situation by using geo-arbitrage! Gone are the days when only large multinationals could draw on personnel, resources and tools based in other countries. No matter the size of your business, it is now possible to create affordable systems that take advantage of people and tools around the world. This not only has the potential to lower the costs of your operations as you grow, but it also helps you to diversify different parts of your business so that you have a bulkhead against future crises no matter where or where. they can happen.
To find new employees from around the world for your business, check out freelance websites like UpWork and Fiverr. You can hire a fantastic virtual assistant, content writers for your business website and blog, SEO specialists, public relations expert, social media marketing gurus, data entry specialists and many other people around the world to help your business grow. You can also join entrepreneur groups online which will give you the opportunity to meet other business owners and specialists from other countries.
Set your own annual salary and stick to it
One of the biggest mistakes business owners make is not setting their annual salary – they just take all the profits from the business and make their salary. This means that when the business is doing well, it has more money than it can possibly need. However, the mistake is that with this method, when the business is going through a difficult time or when the money is needed for a large investment, the business does not always have the money on hand. This can cause great financial hardship for the business.
Hence, set yourself a designated salary and make sure you stick to it. Everything else the company does should stay in the company’s coffers. Then, if the funds get too big, you can still pay yourself dividends, but be disciplined and only do this after certain criteria you set are met. As a business owner, you should do everything possible to stay on top of your business finances. Setting your salary will help you do that.
Constantly A / B test your marketing and sales tactics to increase conversions
If you want to maximize your overall profits and grow your business, optimize your entire sales funnel and marketing strategy through regular A / B testing. For example, test variables in your promotional emails (like copy style or call to action) and make adjustments to future emails to see how you can increase click-through rates. Or constantly edit parts of your call center scripts to see if you can improve the conversion rate, even if just a little bit.
Keep in mind that the faster you do these A / B tests, the faster you will be able to determine which marketing and sales tactics work best, and the more successful your business will be. Therefore, strive to A / B test faster than your competition to stay ahead of them in the market. Plan to do these tests on a weekly, bi-weekly, or monthly basis.
To wrap it all up
Wondering how to take your business to the next level in 2022? Yes, analyzing and improving your employee retention plan and customer service processes is essential, but there are plenty of other very effective ways to optimize your business. One New Year’s Resolution that all entrepreneurs should follow is to learn how to use basic wireframing software to cut web development costs. Other resolutions are to prepare for future crisis situations using geo-arbitrage, to set and stick to your own annual salary, and to constantly A / B test your marketing and sales tactics. Keeping these resolutions will help your business thrive for years to come.