A new year's resolution is a kind of promise a person makes to bring change. Not just individuals make new year's resolutions for themselves, but business owners do it for their businesses too. In 2022, They had taught us many things, the new normal followed by the pandemic is the ultimate truth now. To be prepared for the future and how to manage all things, especially in business. So all businesses want to make 2023 better and the requirements for the organization.
There are so many new year resolutions every entrepreneur should make so that they can see great growth in their respective businesses. Resolutions can be goals you want to accomplish over a short period (short-term goals) or goals you want to accomplish over a year or many years (long-term goals).
The end of the year is the time when all businesses set up a plan for the next year and fill the gap that is not covered in the past year. In this article, we will talk about some new year’s resolutions that every entrepreneur should make for the success of their business. So let us get started.
Time management means prioritizing things for one's life and activities. By doing so, you can reduce your stress. The main goal of time management is to be productive. When you are aware of what you need to do, you can better manage your workload. Forgotten items, details, and instructions always make us do extra work.
We often talk about time management in our daily life. But do we really know what it really means? When you manage your time, It means you are prioritizing your tasks. So that you can create more time for other things in your life.
Being on time and working produces great opportunities. By being on time, you are able to start meetings and projects, and your workday is properly managed. Discipline helps you to manage both your time and tasks. It helps you to separate emotions from your tasks. When you are away from your emotions and worries. That is when you perform well.
Initially, start with small goals that are part of a bigger goal. Most bosses and companies make blunders by giving unrealistic targets to their employees, but that always backfires and reduces the productivity of the employees.
Expand Your Business
Growth and expansion are key goals for almost all entrepreneurs. Growing your customer base is important for business success. Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, location, interests, activities, and values. The idea is to market and sell existing products and services.
Social media is a powerful tool to promote your business to potential customers and gain valuable insight. Analyze new opportunities in business. One of the best and most effective ways to grow a business quickly is to build an email list. Many entrepreneurs find initial success in copying a competitor’s business model. But it is not a healthy practice in the long term. It is about making your presence everywhere possible. However, quality should not and must not be compromised over quantity. So select online platforms carefully apart from your website.
It is said that in the 21st century, one skill that requires the most and will be relevant is the ability to inspire others. Personal value is like a magnet that attracts all good things into our lives—the greater our value, the greater our reward. Since the solution to having more is becoming more, we must be in constant search for new ways to increase our value. When you work for yourself, you inspire others by your action and not by words.
Work on your Health
Entrepreneurship is always considered a demanding job. Being a businessperson is a hectic job on earth, but so is our health. When we consider the word 'health', we think we have to join a gym or go 10 or 20 miles running or lose weight.
However, health means balancing one's life physically, emotionally, and mentally. In terms of physical fitness, we can follow the WHO recommendation of 10,000 steps daily for adults and for mental and emotional beings, and we can do yoga, meditation, or deep breathing according to our schedule.
Secure Your Business
Protecting your business against losses means securing your employees, customers, building, equipment, and revenue-related assets. According to CBS, over 80% of businesses have reported that their systems have been hacked. Security cameras and other technologies can also help protect your company from harassment or performance issues.
The first and most obvious security investment to make for your business is to install surveillance cameras. Modern business is almost impossible without a network where data is kept and shared among employees. If you have employees, keeping accurate records can greatly improve your payroll accuracy and reduce the risk of overpayment.
A recent Gartner study found that 90% of companies that suffer major data loss close within two years and that 80% of business owners have no plan to protect their data.
Lead Through Crisis
“During a crisis, your goal is to reduce loss and keep things operating as normal as possible.”- Gene Klann
The Coronavirus pandemic is a reminder of how rapidly things can change for businesses. When you are in a crisis, most people are terrified and unfamiliar with the situation. Effective leaders can remain calm and maintain a sense of perspective.
Organizational leaders faced the current coronavirus (COVID-19) pandemic and associated disruptions in the global economy. Sustainability is going to be a major challenge for a large number of businesses.
To overcome this crisis, it is always advised to think about the long-term rather than the short-term. However, you need to plan and work for small-term goals, which will be part of your end vision.
Important steps to lead through a crisis:
- Connect as a human.
- Stay on top of the information.
- Act Responsibly.
- Choose people over profit.
- Leaders can prepare their organization to deal with the crisis by acknowledging it.
- Do not try to control and manage everything. Let things take their own turn.
- Make yourself available to your employees and people. It is the most important thing to do in a crisis.
- Addressing your feelings and needs is as important as taking care of others.
- Decisions like to act or avoid may come at a greater personal cost. Remember the saying by Simon Sinek, "Leaders eat last."
- Flexibility in thinking is crucial while dealing with any crisis.
There is a difference between work and life, which, for entrepreneurs, is rarely true. Deciding when you are available can be much easier than deciding when you are not available. It is hard to inspire and enroll others when you are not healthy. Be “you” in every situation. You should have less stress, more peace, and more harmony in your whole life.
By doing meditation, anxiety, focus, and productivity will be improved. During your working hours, make yourself readily available by phone to your customers. After working hours, communication via phone should only be allowed in an emergency.
Making time for yourself and your family makes for a better personal life, and it also gives you the time you need to reenergize so that you are at your fullest potential when you are working. The most important thing is to learn and grow from mistakes so that you can change what needs to be changed to help you, and your relationships.
Learn Something New
Learning new things has its own set of advantages which brings success and helps you become a better version of yourself. Whenever you make up your mind to take up something new, you get to know different people which helps you get a better idea of life. You can always grow, increase your knowledge base, and improve your skills to better yourself. Developing a new skill will influence the way you do things daily today and it will make doing things quicker and easier, saving time, energy, and stress.
Reading books can be a boon for entrepreneurs. Reading not only supplements us with knowledge and information, but it also increases our focus and analytical skills. On the other hand, a bunch of books on entrepreneurship or critical problem-solving will put you much ahead of your competitors.
Top benefits of learning a new skill:
- Your brain chemistry changes.
- Your learning speed enhances.
- You make great coordination between skill areas.
- You become a more interesting person.
- Learning new things makes things interesting for you.
- When you learn something new, your mind's horizon and your perception change.
Join New Networking Group
Whether you are interested in strengthening your network or furthering your, career professional networking organizations can be a great option for you. Professional organizations can enhance your personal and professional development and provide endless networking opportunities. Being part of a networking group gives you a great chance to discuss ideas with your friends and associates.
Network groups are a useful source of strong referrals that can boost your business. Professional organizations sometimes offer courses, seminars, and lectures to keep themselves and their members up to date on the latest industry innovations, research, and trends.
Give Back to the community
As Pablo Picasso said, the true meaning of life is finding your gift and the purpose of life is to give back to the community where we come from. Whatever we earn, not only in terms of money but in every realm of our lives. We should try to distribute to others; that is the way the universe works.
New year resolutions are just a way to give an ultimatum to yourself to fulfill all your short-term and long-term goals. The concept of a New year, a brand-new beginning is taken here and business owners often use this to push themselves to make their businesses bigger and better. The above resolutions are important for every business so that they can enjoy the taste of success.
A visitor once visited Nobel Prize winner physicist Niels Bohr and, having noticed a horseshoe hanging above the entrance, asked skeptically if the professor believed horseshoes brought in good luck for him. “No,” Bohr replied with a smile; “However, I am told by the sender that it brings luck even to those who do not believe in it.”
The above-quoted line “that it brings luck even to those who do not believe in it” is the perfect fit for new year's resolutions as well. They work for those people as well even if they do not believe in it.
What are New Year's Resolutions?
New year's resolutions are good practices and new changes one wants to implement in the new year and continue throughout the year.
What are some resolutions entrepreneurs make every year?
Some of the resolutions that entrepreneurs make are:
- Time Management
- Expand Your Business
- Secure Your Business
- Lead Through Crisis
- Work-Life Balance
- Learn Something New
- Join New Networking Group