Wells Fargo Executive Vice President Lisa Stevens details four New Year’s resolutions for small business owners.
- Have a written plan for 2016. Reflect on your current business needs and goals and see which ones you have met and which ones you need to work on in the New Year.
- Get a leg up on your competitors by researching and understanding your competitive landscape ahead of time. This will not only help you better understand your market but also help you identify potential new customers.
- Evaluate the payment options you have for your customers and determine if updates are needed, such as utilizing mobile payment or chip card/EMV. Giving your customers more payment choices could help increase sales.
- Create a cash flow projection to manage cash flows in 2016. This can help you identify potential cash shortfalls and understand your company’s financial health.
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Story Source: Entrepreneur