New Year's Resolutions for the Business

Are you ready for 2021?

As 2020 draws to a close, it's also perfect time to take a new step and set goals for the year ahead. You may have plans to improve your health, attain that dream physique, invest your money, or finally take the travel you've been dreaming of!

A new year is a beginning, and with it comes the motivation to seek out new goals and resolutions, new plans, dreams, and new directions. Entrepreneurs, especially, are not immune to setting these resolutions for their business ventures in the coming year. Having a new year's resolution can also help align your goals, and keep your focus on what projects to do!

The end of the year is a perfect time to reflect on your business' progress over the past year and plan how you want it to develop in the year ahead. Or, if you're planning on starting a business, this is the right time to put those plans into concrete action.

Before we get into it - I know what you're thinking. We just got through an entire year that's so chaotic that it can be difficult to predict what lies ahead.

But with uncertainty, why not take it as a challenge? We just spent majority of last year holed up in our homes. Maybe it's time to take a risk!

Here are some suggestions for new year’s resolutions that you may consider for your business. It may help you strike for a better work-life balance and increase your business success in the new year!

1. Make SMART goals - Always remember that your goals need to be  Specific-Measurable-Achievable-Realistic-and Timely every year.  Establishing clear goals is like building an imaginary roadmap your destination. You need to be able to know where your business is going so you can stay on top of it and lead your team successfully. With the S.M.A.R.T. standards in mind, entrepreneurs can better achieve their resolutions or any goal they set their mind to.
   
   
2. Challenge yourself with your new year’s resolutions - One of the biggest factors in the successful completion of a New Year’s resolution is in challenging and engaging yourself. Making an easy resolution just to provide yourself with a sense of accomplishment might not have as big of an impact on yourself or your business, but having a successful accomplishment of a difficult goal will not only reward you with success, but with experience, too! Things can only go better for your business and yourself in the process. 
   
   
3. Delegate a task - There are so many things to do when running a small business. I know this by heart. But the best way to combat the overwhelm is by delegating. Try delegating tasks that your team members can do. Remember, you do not have to do everything in your business — which is the exact reason why you hired a trustworthy team! To start delegating, you can start small with a few simple things. Based from my experience, I found that allowing them to take on bigger responsibilities can actually improve work relationships because they know that I trust them, and in turn, they trust my leadership. With delegating, just make sure that the due dates are clear, and schedule regular follow-ups or check-ins.
   
   
4. Improve your marketing strategy - There's always a new marketing trend around the corner. Take the time to consider which marketing strategies you might want to use to make your launch successful next year. You’ll likely want to change up your current marketing mix based on what’s working the best for you now!
   
   
5. Make a difference to your community -  Giving back to your community is an amazing opportunity for you to grow. It enriches your life, it helps you know your community better, and it allows you to connect to people who can positively impact your life. Try going out of your way to help your immediate community and make connections. Becoming part of the community will not only make your business stronger, but it might also help your community!
   
   
6. Achieve personal goals while running your business - Running a successful business doesn’t mean you should push all of your personal goals to the side. If your goal is to enjoy the best of both worlds in the new year, you need to be able to find that balance!
   
   
7. Learn Something New - New year, new skill! Learning something new will only provide you with a better skill set that can add a new dimension of interest to your life. It can also be a great and important skill that can make your business a success!
   
   
8. Improve yourself on how to manage your cash flow more effectively - This is a great resolution for entrepreneurs who might have drastic debts in their cash flow. If you might have been unable to create enough capital to invest back into the business, or if you don’t really understand the day-to-day finances of the business, you might want to consider taking a few classes (or at least researching!) on how you can improve your cash flow. Remember, this is the lifeblood of any business venture so you have to be careful in handling it!
   
   
9. Be one step ahead to improve your social media presence -  Social media is an essential piece of your business marketing strategy. Social media platforms help you connect with your customers, increase awareness about your brand, and boost your leads and sales. With more than three billion people around the world using social media every month, the users and engagement on major platforms are just bound to increase. Imagine the amount of potential clients you can reach!
   
10. Restore your connection with your old business contacts - Your network of professional contacts is one of the greatest assets to your business, as you never know when you might need their help. Reconnecting with someone you've lost touch with might be an excellent way to rekindle past networking contacts to sustain and expand your professional network. 

I know following New Year’s resolutions can be a challenging task, and narrowing down to an actual resolution is hard in itself too. But to achieve that healthy work-life balance for 2021, you have to keep pushing! You may go up, you might go down, but you know what? It's always forward. 

If you apply those New Year's resolutions throughout the year, you'll not only feel better, but you'll have more energy to put into your business and make it the success you've always dreamed of. 

There you have it! Hopefully, this has inspired you to set your own entrepreneurial resolutions for the New Year!