The New Year brings with it all kinds of hopes and dreams for the 365 days ahead. For business owners, making business goals in January can help you to streamline your focus and energy. To help you think about some useful goals for your business next year, here are five New Year’s resolution ideas that will boost your business in 2021:
There’s a reason you’re more likely to lose weight when you have a friend to hold you accountable and encourage you along the way. As a business owner, buddying up with a like-minded entrepreneur will offer similar benefits. You check in with each other, troubleshoot, bounce ideas, and generally support each other with business development.
A small business group mentoring program is equally helpful if you want support from a group of like-minded people rather than just one buddy. These can be a great idea if you want a structured programme that is already tried and tested.
Things can go south so quickly, especially in today’s economic climate. So, it is always a good time to secure finance for your business. For 33% of small business owners, the biggest challenge is a lack of capital. Indeed, 29% fail because they simply run out of cash.
Even if things look great in your business bank account right now, you should always have a backup. Having reliable business finance options will boost your confidence and secure your chances of reaching bigger goals and growth in the months ahead.
A boost in communication can improve your business much more than you may realize. It can help you hear employee voices more clearly, which is better for diversity, motivation, happiness, and staff retention.
Clear communication can also help you deliver important information more efficiently, which is essential as the pandemic continues to be a present and pressing issue in all businesses.
When it comes to performance, it also helps your business avoid adding to the 30% of projects that fail because of poor communication.
Take an honest look at how your business communication is right now and make a plan to improve it. This is one of the simplest and cheapest ways to boost any business.
Your workday is unlikely to be 9-5 as a business owner. Some days, you might only stop working to sleep and eat. The problem with this kind of lifestyle is that you put yourself at a high risk of burnout. This condition costs the economy $125 billion dollars annually and has been linked to a multitude of nasty health issues in people under the age of 45.
A strong business needs a strong business owner, and that starts with you prioritising your health and happiness more in 2021.
Become More Flexible
If anything has been proven by this pandemic when it comes to business, it is that flexibility is the most useful strength for any company of any size. Being able to adapt to ever-changing will keep it strong and fluid, whatever the next hurdle may be.
The key is to be open to problem-solving in ways that could flip your business strategy on its head. Being a proud and brave thought-leader means embracing innovation and creativity to survive.
With the tips above, you’ll be off to a great start creating resolutions for your business that will catapult you to the next level in 2021.