Business Resolutions for New Year 2020 and Beyond
Business Resolutions for New Year 2020 and Beyond

Does your business have a New Year’s resolution yet? 2019 is almost behind us and the end of the year is a great time to reflect on the progress of the year and plan on how you want your business to develop in the future. Do you want to grow in success in the coming year or simply want to enjoy the success you have achieved? Most businesses come up with a New Year’s resolution and it is designed to help you achieve a better work-life balance as well as increase your business success. Let us look at some of the things you should plan for next year;

1. Learn to Delegate and Distribute Tasks Efficiently

There are so many things to do when running any business. It becomes very easy to delude ourselves that we need to do everything ourselves. Then we wonder why we are so exhausted and frazzled with no time for ourselves or doing anything else. Let someone else do some of the tasks for once. The business delegation is not only important for managers or business owners but also for employees. Assigning them higher level tasks boosts their confidence and also serves as a test for them as every employee is looking for promotion and a boost in their careers. For you, it is about delegation, which is the key to a healthy work-life balance.

2. Regular and Consistent Business Promotion

Too often the task of business promotion slips to the bottom of the to-do list in the press of more urgent tasks. The aim of all businesses is to attract customers and generate revenue, so promotion should be made a top priority. One of your top New Year’s resolutions should be to hire an expert in marketing or take the time in developing a marketing strategy and follow through. You can start of with free or low-cost strategies like social media, search engine optimization and content marketing.

3. Make Business Planning a Prioritized Weekly Event

Planning is vital to if you want a healthy, growing business and planning lets you take separate what worked and what did not work. This helps in setting new directions or adjusting old goals. So, why do this just once a year or every three months? Why not set aside an hour every week to review, adjust and look forward. Consequently, not only will this help you avoid costly mistakes, but it will also help you develop contingencies to keep you on track, thereby keeping you more relaxed and focused.

4. Business Networking

There is nothing like talking to other businessmen for new creative ideas, refining old ones, and making more contacts. However, this does not mean you share your ideas with competitors but businesses or people that you can collaborate with or whose businesses complement your own. The grouping can also be among your employees, especially young ones. These young minds think more openly and may come up with something that can possibly change the future of your business. Moreover, approaching different networking events is a great way to obtain relevant feedback and opinion.

5. Give Back to the Community and Your Employees

New Year is a time for happy beginnings. There are all kinds of organizations that make a difference not just within the organization itself but also in the community. So, make it one of your top New Year’s resolution to contribute to a cause in a way that matters. You can be a mentor, volunteer, make a donation to a group or even serve on a committee. Furthermore, your employees are also looking to end their years on a high. So, be generous and reward them with gifts or bonuses. This will not only make them happy, but also boost their morale and motivation for the year to come.

6. Set and Assign Realistic Goals

Goal setting is one of the most important part of organizational planning. However, you need to resolve that the goals you sent will be achievable, rather than unrealistic dreams that are so out of reach and simply lead to frustration. The same goes for the goals you set out for your team. They need to be assigned realistically and should be rewarded on achievement.

Achieving a healthy work-life balance is like maintaining a high-quality relationship; you have to keep working and building on it. But, if you apply these top New Year’s resolutions throughout the year, you’ll not only feel better, but you’ll have more energy to apply into your business and make it the success you want it to be.