New Year’s Resolutions for Entrepreneurs

Rahul Dogra

Whatever your business goals or resolutions are this coming year, make sure that you give yourself the best chance at achieving them by making them SMART: specific, measurable, achievable, realistic, and timely. Setting SMART goals will prevent you from giving up on your New Year’s resolutions in March and instead, you’ll achieve your resolutions and become even more prosperous in 2020. Here are some new year resolutions which Entrepreneurs should be thinking of making as they look ahead to 2020:

Increase productivity
Many Entrepreneurs wish they had more time in their day to get things done, so why not make a New Year’s resolution to increase productivity in your startup? To make your startup more productive, you don’t necessarily need to work on becoming a faster, more organized worker (although it helps)-all your startup needs to do is automate processses.
With the right tools, you can automate mundane and tedious processes like invoicing, social media scheduling, email marketing, tracking and nurturing leads and more. Automate the easiest tasks first and go from there. With some of your most time-consuming tasks automated, you are free to work on bigger and better things.

Start being proactive
This is your year, a brand new year that you can use to identify your weaknesses and to overcome them. Do you feel out of touch with your market? Take a look at what your competitors are doing and see if they are reaching a section of the market that you haven’t considered. Are your advertising campaigns failing? You can always take a class to become a more proficient advertiser.

Boost your marketing efforts
With each year come new marketing trends you should be aware of. If you don’t keep up with these trends and adjust your marketing strategy accordingly, you won’t be able to capture the attention of users online or turn them into customers.
Take a look at your marketing strategy from 2019 and analyze what worked and what didn’t. Then, you can replace the tactics that didn’t work so well with some new strategies in order to reach new audiences effectively in 2020.

Read more Books/Magazines:

“A reader lives a thousand lives before he dies . The man who never reads lives only one.”
– George R.R. Martin

No matter how experienced you are as an entrepreneur-whether you’re just opening your doors or have already started a few successful businesses-you can always glean wisdom from the words of those who have been down the path before.
Everything you read fills your head with new bits of information, and you never know when it might come in handy. The more knowledge you have, the better-equipped you are to tackle any challenge you’ll ever face.

Start embracing new technologies.
There is something absolutely necessary for your business to thrive, and that is staying abreast of technology. Even long before the advent of the Digital Age, entrepreneurs have understood that they would be left behind, if they did not implement the use of the latest technology for their business. Make a point of learning to use current technologies to your advantage because your competitors will be, too.

Take up a new skill
It’s time to invest in yourself and upskill. As your career progresses, more is required of you.
In addition, the market is continually changing so it requires skills and expertise to continually adapt.
No matter what field you are in, there are hundreds of new skills you can learn that could benefit your career. You can take a course to learn or improve on a skill that’s useful in your current role, or one that will help you get the next one.
If you have no idea what skill to take up, a tech skill such as coding is a good start. It is one of the biggest skills in demand today, and can help to future-proof yourself.

Update your company website
This is one of those things that most businesses tend to “set it, and forget it”. For a number of reasons, it can be problematic if your company website looks exactly the same as it did a year back. So if this looks like your site, it’s a good idea to go through your site, get in touch with your web designer, if necessary, and update all of your web pages.

Embed Trust
Quoting Seth Godin , An American Author and Marketing Entrepreneur, here:

“Earn trust, earn trust, earn trust. Then you can worry about the rest.”

In the era of fake news, data breaches and unfair use of personal data, trust and transparency are gaining importance and value. You need to embed trust as a key value in startup culture.

It’s easy to list out a bunch of New Year’s resolutions but we tend to neglect them over the year. In fact, roughly 80% of the resolutions fail by the second week of February, so the odds are against you.
The old saying “out of sight, out of mind” comes into play here. It would help to keep your resolutions visible throughout the year so as to not forget. This could mean posting them on the refrigerator, the bathroom mirror or even hanging up a bulletin board themed after yosur resolutions. Find what works and stick with it.