New Year’s Resolution: Business Resolutions for 2011

What will your New Year’s Resolution be for your business? Columnist Lester Pyatt from Omark Strategic Hospitality Solutions shares his advice on securing a prosperous 2011.

It’s time for hoteliers to make their New Year’s Resolution – and I’m here to offer a little guidance! So, here’s my top 20 tips to “condition” the mind for a fast start to 2011 and to get those cash tills “jingling”.

  1. Unblock your frustration, seek advice, and don’t sweep issues under the carpet
  2. Be honest with yourself: could you work harder and smarter
  3. Have a clear idea of what you want achieve during 2011
  4. Motivate your staff – even an arm around the shoulder and a “well done tonight” can make all the difference to morale
  5. Realise the lifetime value of your current customers
  6. Be open to change: remember the world is changing around you
  7. Challenge yourself to take some calculated risks
  8. Have a “we are where we are” attitude; you can’t change the past but you can change the future
  9. Position your business to meet customer requirements and expectations
  10. Have control over your business finances, and a forecast of where you maybe financially in a year’s time
  11. Always look to improve cost efficiencies in your business
  12. Get yourself out-and-about and eat at the opposition’s venue
  13. Benchmark your business for customer service and operational efficiency
  14. Ask yourself this: “have I really built a solid foundation for this business to grow?”
  15. Do you know where all your incremental sales opportunities lie?
  16. On a weekly basis, do you put together a “to do list?”
  17. Are you spending an appropriate amount of your turnover on advertising and promotion?
  18. Are you confident that customers are giving out positive referrals about your business?
  19. Do you know where you want to be in five year’s time?
  20. Are you using an arsenal of advertising and promotional weapons on a test and measure basis?

This leaves me, just to say, I wish all the readers of a very merry Christmas and a very prosperous new year!

By Lester Pyatt

About Lester Pyatt: Pyatt is the owner of Omark Strategic Hospitality Solutions, a company specialising in business development and turnaround for the hospitality industry.

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