NEW YEAR RESOLUTIONS FOR ENTREPRENEURS

Once again, Happy New Year folks. If you have'nt done so already, it’s the time to start thinking about setting resolutions that we’ll work on in 2016. Entrepreneurs must also set New Year Resolutions for their businesses. It helps you to stay focused and to keep things in perspective. It can also be a valuable tool for breaking down your long term goals into annual, monthly and weekly goals for your business, thus helping you to keep track of your success. 

Here are 8 New Year’s Resolutions that every entrepreneur should consider as they begin this new year.

 

1. Be More Social

If in 2015, you underrated the impact of Social media, you need a change of heart.. Social media is one of the best ways to engage and interact with customers, spread brand awareness and connect with influencers and investors in your industry. If you have been inactive or minimally active on your Facebook, Instagram, Twitter, Blog or LinkedIn account, spend the next year being active and making the best use of your social media channels.

2. Be More Healthy

You need to be mentally, physically and emotionally healthy to run and grow a successful business. How do you expect to run a productive business if you’re constantly sick and exhausted. Eat more healthy, exercise more, boost your immune system and take out time to rest. When you are more healthy, you are more productive and happier.

3. Revisit your Business Plan 

Whether you just drafted it last month or it's been two years, go back to your business plan and see where you've succeeded, where you haven't, and re-draft it to reflect your current situation. If you don't have a business plan yet, the first quarter of 2016 is the time to get on it. If you need help, get professional help.

4. Mind your cash flow

If in 2015, you operated your business as a typical one man business with no proper record and monitoring of your cash flow, you need to have a re-think in 2016. You need to manage cash flow like water from the Sahara. This is important to entrepreneurs because cash flow management is a vital aspect for the growth of every business. Cash is king in business and positive cash flow management will speak volumes when presented to investors, customers, and partners.

5. Make New Friends

Every Successful entrepreneur understand the importance of networking. It is often said that “you are four people away from meeting who you really want to meet”. Network with smart and accomplished people in your industry. Identify who you need to help grow your business and strategise on how you can get closer to them. Send them an email, offer to buy them breakfast or dinner. In all you, make sure you are networking with the right person.

6. Know Whats'up in the news

Paying attention to the news keeps you well informed and current about happenings in your environment and industry. It helps entrepreneurs to gain insight about what is going on in their so that they can make more informed decisions. Keep in mind that we live in a small and connected world now. What’s going on around the world impacts your business. Being well informed is also a great conversation starter for when you are networking with other professionals in your industry.

7. Identify a Business Book and Read it..

Entrepreneurs are typically very busy people, dealing with a whole lot of different issues and challenges. However, the New Year offers the perfect opportunity to broaden your knowledge base by reading relevant business books. Set aside time to read business books as they will help you to consider the bigger picture and be harmed with more knowledge as you manage more challenges that impacts your business. There are huge numbers of business books available at any bookstore and some will naturally be more relevant to you than others.

8. Always remember why you became an entrepreneur.

To wrap this up, as an Entrepreneur, you will be faced with myriads of challenges and also beautiful and profitable moments. Regardless of whatever situation you find yourself at any point, good or bad, never forget why you became an entrepreneur in the first place. For most of us, we had an idea to make the world a better a place through our products and services. Take the time this year to remember why you embarked on this entrepreneurial journey. Let that be your propelling force. 
 
Cheers to an amazing 2016!!!