With the start of the New Year comes the declaration of many lofty resolutions, most of which are quickly forgotten by the time February rolls in. On the other hand, setting realistic and engaging business goals can produce benefits seen and felt months, if not years down the road. Implement the following 3 tips that will help create a more positive, productive and profitable 2010.

Update your lending resource contact list. The last 12 months found Americans in an economic downturn not witnessed since the Great Depression some 80 years ago. Just about everyone felt the effects of the struggling economy, regardless of size and perceived influence in their industry. Just as some financial brokers are no longer working in the industry, many of our funding sources have either closed shop or revamped their approval profile and lending criteria, think Sunbridge Capital.

As we begin to pull out of this recession, spend some quality time updating your lending contact directory. Your previous go-to source may be long gone since you last had a viable transaction for them. Dialing the telephone to fax over a lease application for an eager client is not the time to discover a non-working number for an outdated contact. Reach out to your sources and let them know you are still operating and you’d like updates on their product offerings, terms and rates. 

This is a great time to not only clean out your rolodex, but to identify new lending sources to add to your network. Initially, you may search for lenders to replace those who are no longer operating in the space you previously utilized them. Research new lenders to ensure they are credible and reliable before you initiate business with them. The Better Business Bureau is a great resource for checking business credentials, as well as professional associations such as the NAELB. But don’t limit the additions to your network to replacement lenders. 

Ask yourself if there have been repetitive inquiries concerning transactions that your existing lenders restrict. Have there been requests for mini-golf equipment financing, but none of your current sources would consider approving a nine iron? If so, consider adding financing for under-served industries as a new product offering or develop a referral relationship with someone who specializes in those deals. It’s a great way to develop a source of passive income for minimum work on your part.

Challenge yourself to incorporate more technology into your business. Without losing a personal touch, use software to reach more clients in less time and provide more frequent communication with them. Increase your use of tools such as Constant Contact for email blasts, newsletters and company updates. Constant Contact can also be used to survey your clients and potential customers to find out their needs directly from them so you can position yourself to better service your target market. When done properly, it can be an effective two-way communication tool, allowing clients the opportunity to provide feedback and offer suggestions.

Invite business partners and clients to become a fan of yours on Facebook or to follow your tweets on Twitter. Both platforms offer inexpensive methods to social network without the geographical limits of traditional networking events. If you’re not quite sure how to use Facebook or Twitter to increase your business exposure, there are various websites that offer tips that will teach you how to set up your fan page and tweet like a pro.

The year ahead is full of great possibility for everyone. It’s up to you to decide the probability of it being a powerful one. Prepare yourself for a great year by having an updated funding source network, by expanding your resources with new lenders and strategic partners, and by using technology to connect with clients without boundaries. Resolve to have a “no limit” year.