by YAHOO! SEARCH
Sound Advice
Local business experts offer resolutions that companies and individuals can make for a prosperous new year
Updated: January 7, 2012, 11:00 PM
What will the new year hold in store for your company, and what can you do to make it better?
The start to a brand new year is a great time to take stock of your business, to renew commitments to profitable behaviors and to invigorate staff to forge ahead into the future.
"It's a perfect time to reflect on what went well in 2011 and on what you need to do to make 2012 a better year," said Sharon Randaccio, president and CEO of Performance Management Partners in Amherst.
But where to start?
Local business experts offered several healthy resolutions that companies and individuals can make for a prosperous new year:
* Pare down priorities. Create no more than six goals for 2012, said Michael Cardus, founder and CEO of Create-Buffalo, a local leadership development company.
The goals should take from three to 12 months to accomplish and have definite deadlines. You should have a system in place for measuring the success of each.
"[They] must have the 'what' -- what the outcome will be -- and the 'by when' -- when the outcome will be achieved," Cardus said. "The 'by-when' drives the prioritization."
When prioritizing, it's just as important to decide what needs to be changed as it is to decide what needs to stay the same.
Business owners should decide what is already going well within their company, and then leave it alone or build on it.
"Do more of what's working to bring in revenue," Cardus said.
When it comes to what's not working, Cardus suggests business leaders "judiciously eliminate." Look at what is not serving the company well, then make thoughtful decisions about getting rid of it.
"Bad is stronger than good. It is more important to eliminate the negative than to accentuate the positive," Cardus said.
* Focus! Once you've decided on your core goals for 2012, concentrate on them relentlessly. Whatever you've decided will have the greatest positive impact on your company should get your undivided attention.
"We see way too many businesses paralyzed, overwhelmed or taken off course by the onslaught of hundreds of little daily 'firefighting activities,' if not kept in check," said Thomas Ulbrich, executive director of the Center for Entrepreneurial Leadership at UB's School of Management.
* Take your company into the global market. As president of the World Trade Center Buffalo Niagara, Chris Johnston has seen how exporting has benefited such large companies as Rich Products Corp. But he insists that having a global presence can benefit even the smallest businesses.
"All successful businesses, regardless of size or specialty, must remain proactive and growth oriented," Johnston said. "Exporting is an option for businesses of every size, in every industry."
Exporting is the next logical step for businesses that want to manage risk, generate new sales, produce more efficiently and increase their company's stability, Johnston said.
To get started, companies should develop an "international business plan," and identify their markets by conducting thorough market research.
"Understanding your export markets will give you vital information about how to manage your efforts," Johnston said.
But don't jump into too many markets in the beginning, Johnston warned. Three foreign markets are usually more than enough for most small businesses. Consider testing one market, then moving on to secondary markets as your experience level develops, Johnston suggests.
There are plenty of organizations in Western New York that can help you keep this resolution, such as the U.S. Export Assistance Center, Empire State Development and of course, World Trade Center Buffalo Niagara.
* Go green. Personnel at the Small Business Development Center at Buffalo State College said they have seen great benefits for local small businesses striving to become more environmentally conscious.
The single best strategy for companies looking to get the most green bang for their buck is to find ways to reduce energy consumption.
"The beauty of this resolution is that, in most cases, if you reduce energy consumption, you reduce energy expenses," said Susan A. McCartney, director of the Small Business Development Center at Buffalo State College. "That should sound good to most people."
To do it, McCartney urges small businesses to take advantage of free energy audits being offered by the New York State Energy Research and Development Authority.
The Development Center will handle processing of the energy review application for Western New York businesses free of charge. Contact the Development Center's energy adviser, Fred Bristol, at 878-4030.
* Be humble. Research conducted by Bradley Owens, assistant professor of organization and human resources at the University at Buffalo School of Management, shows humble leaders are more effective and better liked, according to a study to be published in the Academy of Management Journal.
Humble leaders achieve greater personal growth and are able to take their companies further, the study showed. A leader who shows humility is able to admit mistakes and point out strengths in others.
* Get flexible. If the economy's most recent ups and downs have taught business owners anything, it's that volatility is the only thing that's predictable anymore.
"There are people waiting for things to go back to normal, but the reality is that this is the new normal, and things aren't going to go back to the way they were," said Randaccio.
In order to react to the fast and furious changes coming down the pike -- whether they're in technology, staffing, regulation -- businesses need to be able to turn on a dime.
"Flexibility is huge," Randaccio said.
Comments
Sort:NEWEST FIRST | OLDEST FIRST
All these ideas MUST come in the context of the capacities of your people. An organization will only rise to the level of sight and goals that are established by the executives. Goals-drive everything a company and people do. Culture, engagement, innovation etc... Are all irrelevant unless they align with the organizational goals. When developing the 2012 plans be sure that the language and delegation is in the proper context, to the proper person, in then proper way.
For prosperity 4 paths must align for goal achievement. 1. Goals that are broadly set and allow the ability to exercise their judgment + decision making. 2. An acceptable level of autonomy for people to complete the goals. 3. A objective way to measure progress and setbacks, the manager coaches within the metrics. 4. Supplying the necessary resources to get the work done.
Michael Cardus
Create-Learning Teambuilding & Leadership
www.create-learning.com
MIKE CARDUS, BUFFALO, NY on Sun Jan 8, 2012 at 01:09 PM
advertisement
Entertainment Calendar
Best bets:
- Thu 2/23: An Evening with Brian McKnight
- Thu 2/23: Rascal Flatts
- Fri 2/24: Molly Hatchet and Jimmie Van Zant
- Fri 2/24: Denny Laine and Terry Sylvester
- Fri 2/24: An Evening with Sylvester Stallone
- Sat 2/25: Golden Dragon Acrobats
- Sat 2/25: Charles Bradley & His Extraodinaires
- Sat 2/25: Golden Dragon Acrobats
- Sat 2/25: Larry Carlton Trio
- Sat 2/25: Buffalo Philharmonic Orchestra: All-American Masters
- Sat 2/25: Seth Meyers
- more events »
The Feed / What’s Happening Now
Arrest made in Watkins' shooting death
New company to run Maid of the Mist in Canada
Ex-Bill Losman selling his Oakland Place home
Sabres, Roy making their points
Sheriff's takeover of transit police eyed
Boyes tries old routine to end slump
Couple lauded for a lifetime of love
Arrest made in Watkins' shooting death
Miller remains sharp between the pipes
New company to run Maid of the Mist in Canada
Stay Informed
Newsroom Tips
Have a news tip you think The Buffalo News should investigate?
Call The News tip line at 849-4475 or email us at investigations@buffnews.com.
All calls and emails will be kept confidential.
Buffalo Marketplace
Marketplace videos
Watch the latest offers, products and services from our advertisers.
Browse our print ads
It's the ultimate advantage for Buffalo consumers. Never miss another ad again!
Buffalo Savers: coupons
Buffalo coupons at your fingertips.
Just click and print. It's Easy!


PHILIP JAMES JAROSZ, BUFFALO, NY on Sun Jan 8, 2012 at 11:10 PM