Here are the New Year’s Resolutions every small business owner should make:

1. I will track my cash flow and review my financial statements every month. Too many of us don’t do this because we don’t understand what they really say. Remedy this by having your bookkeeper or accountant explain it to you.

2. I will create a budget and goals for my company and track my results towards them. Every team needs goals. Create them for your company and monthly measure your results against them.

3. I will put together a systematic marketing plan and run it all the time thing. Marketing can’t be a sometime thing, it has to be a daily activity. Customers buy from companies they have relationships with over a long period of time.

4. I will fire the people who are not contributing. Stop kidding yourself. Let those people go that hurt the team.

5. I will focus on retaining customers rather than just replacing them with new ones. Stop the revolving door. Focus on the long term value of each customer.

6. I will raise my prices by charging for more value. Stop cutting prices and offering discounts. Be the high value, high price provider.

7. I will pay myself first. Most owners pay  themselves last. I agree with Mike Michalowicz’s philosophy of “Profit First”. http://www.profitfirstbook.com

8. I will do culture deliberately. Setting out on a clear mission of the company drives the team forward.  Know what do you want your company and people to stand for.

9. I will focus doing a few things really well, rather than more. Stop the endless to do list. Stop doing two things that you do out of habit, but really add no significant value to your company.

10. I will focus on one social media tool until I have I built a community around it. Stop thinking you have to be everywhere. Focus on one place and do it really well.

What are your New Year’s Resolutions?