In a couple of days, the curtains will drop on yet another year. It seems like just yesterday that 2011 started. With every coming year, come new challenges for small business and start-ups. You can never be too sure about financial conditions of an economy for the business environment. Inflation, unemployment and recession are some of the few indicators that hinder the growth and progress of any small business.

Most small business failure is attributed to lack of planning and forecast. Since small business owners aren’t skilled in risk mitigation techniques and crisis management, they often fail to analyze the imminent threats to their business in the long-run. Today, I wish to emphasize 8 healthy tips that will help you bring your small business and start-up on track in the year 2012.

1. Keep SMART Goals:

In the next year, instead of setting objectives which are unrealistic and impractical, keep SMART goals. That is whatever business targets you wish to accomplish in 2012 must be Specific, Measurable, Active, Realistic and Timely. Small business owners make a mistake of going wayward with their future prospects. Rather than going for an all out approach, set a few but achievable goals for your business.

2. Run an Identity Check:

Customer preferences are erratic and prone to change over a period of time. That is why it is crucial for a company to run an identity check on their corporate logos and ensure whether the current identity system accurately reflects the values to the customers. It isn’t always necessary to redesign your logo every year. Just a minor tweak and adjustments can also do the job. So make sure that your brand identity is not outdated for the year 2012.

3. Blue Ocean Strategy:

Every year, companies try to compete with one another for an already existing market space. But they often overlook the huge unidentified gaps left in the market that can be served. Finding this unknown and uncovered space in the market is called blue ocean strategy. This is the strategy that you must follow in 2012to gain leverage over your competitors and increasing your client base.

4. Acknowledge Your Mistakes:

Human beings, by nature, are imperfect. No matter how hard you strive for perfection, it is hard to avoid mistakes in small business. But it is well said that all the life’s precious lessons are learned the hard way. So instead of fretting over past blunders that cost you losses in business, one should acknowledge all their errors and take lessons from the year 2011.

5. Take Cost-Effective Measures:

If you wish to stay alive in the cut-throat competition, you must think of creative techniques of correcting your cash flows. In the coming year 2012, follow “A penny saved is a penny earned” principle. Take all possible cost-effective measures in order to minimize overhead expenses and eliminate unnecessary operating cost. Another options include divesting resources that are redundant and outsourcing all secondary business activities. Be advised that downsizing is never a good option, so instead you should try to reposition your resources efficiently.

6. Clock Your Business Wisely:

When it comes to business, time is money. Many a times small businesses don’t give their business due attention it deserves. So in 2012, try to clock your business wisely and schedule it to increase your productivity. Also, keep some time for regular planning and envisaging corrective measures for your business for future.

7. Go One Step at a Time:

You must have heard of the phrase, “Haste Makes Waste”. It accurately depicts small business owners who get anxious and try out everything at the same time. So in 2012, go one step at a time and don’t rush things as it damages your concentration and focus.

8. Say No to Pessimism:

Last but not least, make a promise to yourself that whatever may happen, you will say NO to pessimism. Facing minor setbacks in small business is a common phenomenon but one should remember that falling down only gives you a resolve of getting back on your feet in a stronger and better manner. Crying over spilled milk has never helped anyone in fixing issues. Instead, be optimistic and stay positive so that you work with determination in the year 2012.