Jan 9, 2019
The new year is the perfect time to reinvent your business. Decide what you want this year to look like, then put on your entrepreneurial shoes and get to work! Here are five ideas you can aspire to in the new year for a happy and successful business year.
1.) Set an Exciting Goal
As Tim Ferriss puts it in his must-read book, “The Four Hour Workweek,” a goal that makes your heart beat faster is easier to achieve than a ho-hum goal. That’s because there’s less competition when you’re doing the impossible, and also because an exciting goal comes with a super adrenaline rush that makes you surpass what you thought were your limitations. Can you triple your income this year? Identify the 20% of activities that generate 80% of your results and focus only on that? Don’t limit it — give yourself permission to call your biggest dreams “goals.”
2.) Write a Marketing Plan
The most frustrating part of being a business owner is the constant need to put out fires. Everything demands your attention, and there are never enough hours in the day. One of the best things you can do is get away from it all and spend a solid, uninterrupted block of time crafting a marketing plan for your business.
Your plan doesn’t need to be perfect. It’s a living document, so expect to make changes throughout the year as you respond to new opportunities and developments in your industry.
3.) Get in Front of Compliance Deadlines
January 1 is when many new regulations take effect. If you aren’t staying up to date on your regulatory environment, you’re playing with fire.
Take a look at the new regulations that may affect your business. Consult with your compliance personnel or attorney to figure out the steps you need to take to keep your company updated.
4.) Trim the Fat
Is there a person in your organization who isn’t working out? Technology that takes more time than it’s worth? If it’s not an asset to your business, it’s holding you back.
It’s never fun to be the bad guy, but as a business owner, it’s your responsibility to see to it that your team is doing what needs to be done and productivity and morale are high.
5.) Keep Learning and Growing
With so much on your plate, it’s easy to get caught up in the day-to-day responsibilities of working both in and on your business. Make this the year you invest in your own knowledge by resolving to read one new business book a month. Make a list of websites, blogs and publications you’d like to read regularly. Revisit classic business books, or ask others for recommendations.
Regardless of how last year turned out for you, it’s over. Close the books and learn from the experiences. The new year is up next, and it’s up to you to make it the best year ever. Bring on the challenges and rewards of another new year!