Rethink and refresh your business for the year to come

2009 brings resolutions, lose weight, exercise, go to kids' soccer games. When making these personal promises, think about your business. The business pays for the soccer uniforms, gym membership and the ice cream (when you get past resolutions). It is important to keep rethinking and refreshing business plans and processes. In this challenging economy, putting off improvements to your business may mean the business doesn't survive to another year! Keep your business efficient, cutting edge, economical, and flexible. Take time to look at where your business has been and where you want it to go in the year to come. * First, pull out that business plan. Compare the original to today's reality. Refresh the plan with current conditions and future plans. * Second, if you don't have a business plan, make one! It's a great road map for your business. * Third, look at how you conduct business. Are you using current communication systems, cutting edge information technology, and innovative, best business practices? * Fourth, remember the human capital side of the business, including the way you involve yourself in your business. If you are spending 24/7 at the office without satisfying results or your employees are leaving in droves, you need to rethink how best to use the team you have in place (including your own talents). * Fifth, look at the long term, big picture. What about three years from now, or even 5-10 years from now? Current crises should not dictate long-term plans. Where do you want your company and yourself at those future points? * Sixth, what effect is the current economic crisis having on your business? Is it the economy that is challenging you or is it your way of doing business? Is your business nimble enough to adapt to the changing needs of customers and suppliers? Make sure your business plan includes alternate strategies. * Seventh, assess your company's financial position. Make sure your internal financial controls are in order and records are up to date. Do you have enough in reserve to weather the storm? Are you wasting money? Are you prepared with accurate, current information should you need to deal with a lender? * Eighth, are we having fun yet? No amount of money can make up for a satisfying, fulfilling, fun career. If you can't say you're having fun as an entrepreneur, maybe its time to leave the business helm to someone else. Don't wait. Examine your business now and set in motion those improvements that will help you accomplish your goals. Roslyn Goldmacher is the president and CEO of the Long Island Development Corp. (LIDC) and the Greater New York Development Co. (GNYDC), Bethpage, N.Y.