7 NEW YEAR’S RESOLUTIONS ENTREPRENEURS NEEDOluwaseun Olayisade
Have you made your new year’s resolutions? What is your New Year resolution?
Every success pursuing entrepreneur needs these 7 new year’s resolutions.
It is that time of the year when resolutions and plans are made but as a successful entrepreneur the plans and resolutions should have been made in the previous year. The resolutions help to put our goals into perspective thereby making them achievable thus contributing largely to our long term success.
This is an important aspect of your new year’s resolutions due to cash-flow being the business lifeblood. In the previous year the annual financial reports, tax returns, audits etc. should have been prepared and the necessary meetings held. This is to start the New Year with a picture of where the company is presently at and where it needs to be financially. This is to help know the profit and loss statement of the previous year, if there are debts owed the company and if the company also owes, expenses and if there is a need to apply for loan to carry out some projects. This is to better manage the cash-flow of the business.
It is imperative to revisit your reason for being an entrepreneur so as not to lose focus or get carried away. Either your reason is enjoying what you do, for profit or to provide solution and value to the society. Whatever reason you have to leave the nine to five grind should be revisited as part of your New Year’s resolutions to help keep you on track.
This cannot be over emphasized. We should only stop learning when we are dead. There are so many new things to learn in the business world of today such as new accounting skills, marketing skills, tech skills, leadership and management skills etc. These knowledge can be acquired via reading books, attending seminars, classes or watching videos.
We are at a point whereby businesses would fade off if they refuse to innovate. As an entrepreneur it is crucial for survival to inject new ideas into your business as part of your new year’s resolutions. It could be in form of doing things in new ways such as customer service, dropping products and services that are not performing or develop new products and services. Something that would add to the value your business is already providing your customers.
A lot of entrepreneurs get caught up with the hustling and bustling and neglect their health. Part of an entrepreneur’s new year’s resolutions should be to go for checkup regularly to avoid being caught unawares by one health condition or the other. No need waiting for that moment you land in a hospital to realize that you can only be on ground in your business if you are of good health.
This is the time to restructure the organization. From the past business year appraisals should have been done to know the strengths and weaknesses of individual employee. Reshuffling should be done to ensure people are where their talents are used maximally. Also if there are staff that incur debt for the organization this is the time to address their issue; either they are reassigned to new duties, retrained or their contract terminated.
GO ONLINE; GO MOBILE
This is 2016 why would your business not be mobile? The trend for businesses this year would be to go mobile. You could start by getting a creative website; this would enable old and new customers alike to have access to information on your products and services also buy-buttons can be added to your websites or call-to-action buttons that bring about conversion on your website. Do not forget to make your website mobile friendly; a lot of people use their mobile devices to surf the web.
2016 is just some few days old but a lot can be done in a few days. If you feel we have omitted any important new year’s resolutions entrepreneurs need to make their journey successful feel free to drop them in the comments section.