By SIMON COOPER Res Socius THE NEW Year is upon us once again, and resolutions are flowing like champagne. Wise entrepreneurs around the world are doing something similar. Why is that? The answer is as simple as saying: "Innovate or bye-bye." Perhaps you don't think this is necessary. Your business is playing like a violin and everything is under control. But wait. Which of the following do you think your competition might be up to, while you complete your year-end recreation? * Might they be learning to delegate a little better? That could free them up to enjoy a healthier lifestyle, while planning their next step into the territory you once thought of as your own. * Perhaps they're strategisng their next marketing drive? If you also need to attract new sales, then perhaps promotion should be your priority, too. * Maybe they are scheduling weekly business plan reviews? There could be some merit in tracking progress against plan. If not too busy, why not try it? You can't aim straight without a target. * Alternatively, maybe they are just Googling the time away. Did I hear you say it's cheating to grab ideas off the Internet? Nobody else does these days. * Perhaps they are having a refreshing drink down at the club? There is more to this idea than just that, though. Networking is finding new customers and new suppliers, and having fun while you do so, too. * Could they be spending time strategising with a charity or church? Doing this is a great cure for cynicism, while breathing fresh ideas. Try it sometime. * Maybe they are busy scheduling time for themselves? What's that you say? The best sports people take breaks. Successful entrepreneurs do precisely that, too. * Perhaps they are replacing pipedreams? Now maybe that's something you need to worry about doing yourself. No roadmap = getting lost along the way. * It's broken and they're replacing it! This is a silent but deadly one. Take a look around your own shop. What's tatty, what's broken, what should you turf? Think how the place looks from the customer's point of view. * If it's not working, ditch it! This time I'm talking sacred cows, like dead stock and bad supply chains. Have a clearance sale - the timing's perfect! I guess you realised by now that I'm actually talking to you about yourself, and not your competition down the road. While resolutions may sound corny, they actually work quite well with follow-through. So which of these 10 ideas are you going to follow up on this time round? And which will we still remember when the wheels turn once again, and 2013 arrives? See you there. * NB: Simon Cooper is a founding partner of Res Socius, a business brokerage firm authorised by the Bahamas Investment Authority that facilitates the sale and purchase of businesses. Contact 636-8831 or visit www.ressocius.com.