Business critics state that by the end of February each year, 80% of resolutions made for the new year fail. That shouldn't deter any entrepreneur from mapping out higher expectations for the future.
Experienced professionals should always seek new ways to revamp productivity goals every year. Despite naysaying, resolutions are a great way of making this happen.
Whether it's finding creative balance or a new venture, positive change is growth. The clock's ticking.
As we embrace the coming of a new year, it's time to pledge some intentions. So, if you're looking for ways to feed your entrepreneurial spark, read on. Discover these five New Year's resolutions every entrepreneur should make.
1. The Best New Year's Resolution is Time Management
There will never be enough time in a day, so you have to find a way to make every second count. Time management is a valuable skill every entrepreneur should have.
The key is to find creative ways to double your productivity in less time. But at the same time, you don't want to become over-inundated. Enjoying what you do should remain a priority in the process.
Resolve to work smarter. Remain faithful to your to-do lists and stick to time schedules.
2. Financial Perspective
Accountants are valuable resources, but you should always know the numbers. Every entrepreneur should know what's coming in and going out.
Financial perspective is understanding the basics of your finances-the accounting part. Sit down with a professional and learn how to take part in your financial picture.
Examine revenue and operating costs. Weigh assets against debts. Figure out a progressive plan that brings in future earnings. Put your business on track to hit all its fiscal targets.
3. Get Healthy
We often relate health to proper diet and a fit frame. But getting healthy involves more than exercise and clean eating. Mental health is a priority for successful entrepreneurs as well.
Half the people who start companies undergo some form of mental health struggle. Whether it's excess stress, anxiety, or fear of the unknown, thriving professionals suffer.
Get a grip on reality and embrace your vulnerability. It doesn't make you a weak leader; it makes you smart. Obtaining optimum health-physically and mentally-helps keep your wellness in check.
And, never be afraid to sit down with a professional.
4. Embrace Benevolence
Getting involved in social issues is a proven win-win for any business. People appreciate practices and leaders who give back.
Taking on the role of an influencer expands your business audience. It also gives you the opportunity to give back. Becoming a benevolent entrepreneur helps you set an example in your community.
You put yourself and your business in an accessible position. In return, you empower people by creating a cycle of hospitality. Good generates more good. It's That's always good business to do good for others.
5. Restructure your Team
Unless you're a one-man or one-woman army, you're only as good as your team. So focus on hiring smart in the new year.
The right team is crucial for the growth and productivity of any business. As a business owner, you should seek to staff people who support your vision. Team members who love the brand, become its's biggest supporters.
In return, you'll deter attrition, which keeps your overhead costs low.
Make a Resolution
Rules get made, and rules get broken. So are resolutions sometimes. Make some new year's resolutions that you can live with.
Pencil in some time to write down goals and objectives for the future. Then plan to see them through.
Read over our entrepreneur's guide for insight on becoming a better business professional.