Many of us are working to establish our New Year's Resolutions for 2012.
Typically, these goals are of a personal nature; however, as a business owner, do you make New Year's Resolutions for your business? This is a great time to reflect on the successes of your business and any challenges or shortcomings that the company faced in 2011.
Making resolutions will help to focus on those things that brought success, or needed improvement.
If you're having a tough time coming up with some of your own, below are some tips on making a great New Year's resolution for your business.

• Renew Your Passion: No doubt, the last few years have been tough on everyone.
  This can make being a business owner feel like a heavy chore.
  There are many factors that led you to being a business owner - reconnect with those factors and renew your passion for the business you created.
  
• Set Realistic Goals: Promise yourself that you will set goals that are realistic and achievable.
  There is nothing more damaging to spirit and morale than being faced with goals that are seemingly unreachable.
  Goal setting is a very valuable practice; it helps to set the direction for the organization for the year.
  
• Keep what is working & let go of what isn't: Evaluate every aspect of your business, such as suppliers, vendors, staff, policies & procedures, and determine what is really working and what is not.
  If something is not working for you, stop using it.
  Many times we spend a lot of time & effort trying to fit a square peg into a round hole.
  Stop.
  Let it go.
  A better way will present itself.
  Work smarter, not harder.
  
• Ensure your financial house is in order: This could mean many things, such as making sure you understand your financials, reviewing leased equipment agreements, finding different vendors for supplies or processes, boosting sales, marketing only to those customers that can afford and use your products/services, or evaluating your staffing needs and making appropriate changes.
  Most importantly, make and stick to a budget, and perform regular budget reviews.
  
• Be in the "Know": Invest the time and energy in knowing the trends in your field to ensure you remain competitive.
  This could involve updating your website, developing a mobile app, or developing a new "knock their socks off" marketing campaign.
  It is also important to remember your customers and make an effort to improve customer relations.
  
• Make time for yourself: More and more personal and professional lives are merging, and as a business owner, that holds even more truth.
  It is important for everyone to have some down time.
  Schedule a vacation with no phone, fax or e-mail, and give your mind a chance to relax and wind down.
  

Remember, all great goals contain three important factors.
They are written down, measurable, and realistic.
It's okay to set a bunch of small goals rather than one large goal.
In fact, small goals give you benchmarks to see how you're progressing, and you can celebrate small achievements along the way.
Moving forward is the key.