Small Business New Year’s Resolutions

Small Business New Year's Resolutions

Small Business New Year’s Resolutions vs Goals

Small business New Year’s resolutions are different from goals. A goal is tied to ambition or effort, while a resolution is choosing to do or not to do something. “I’m going to lose ten pounds,” is a goal. “I’m not going to eat potato chips,” could be considered a resolution.

Small Business Resolutions

Small business resolutions are different from the typical promises we make to ourselves to lose weight. What will an entrepreneur do or not do in relation to their business? Budgeting to increase sales by ten percent is a goal, whereas resolving to stop wasting business hours on personal social media is a resolution.

Time Management Small Business Resolutions

For entrepreneurs, one of the most important resources we have is time. You won’t know how much you have, you will always need more, and you’ll never have enough. So, how do you change what you do (or don’t do) to make better use of your time? These are just a few ideas that have helped us in the past.

Small Business Resolutions That Limit Distractions

  • I will turn of notifications
  • I shall be social at set times
  • I can check email at set times
  • I won’t aimlessly surf the web

Scheduling activities will help you be more productive. Notifications that appear on your screen will trigger your brain to think that you need to address it immediately and distract you from your work. They’ll also add to your stress levels as the brain will try to remind you that you still have something else to do. This often leads to the feeling of being pulled in many different directions. You don’t need to respond to everything immediately, and sometimes not at all.

We all need time to rest and recharge, so having dedicated time to rest will have a big impact on your productivity when you do get back to work.

Small Business Resolutions That Accomplish Goals

  • I will review my strategy
  • I will use more automation
  • I will delegate administration
  • I shall update my business plan
  • I will map out my business processes

These are just some examples of how you can free up some of your time and be more successful. If you don’t have a plan, it’s essential. It doesn’t need to be super-detailed (though more detail is good), but it does need to be well thought out and will be impacted by the strategy you choose.

Having processes mapped out and, when possible, automated will allow you to do less when executing a process.

Jonathan Carter, CPA, CMA

Having processes mapped out and, when possible, automated will allow you to do less when executing a process. Moreover, it will allow you to hire people to work those processes for you. Even if you have processes in place, you should be reviewing them at least once a year to ensure that they make sense. Remember, simpler is usually better.

Small Business Resolutions That Look Forward

  • I will plan out my time
  • I will dedicate time to learning
  • I shall forecast my financial results
  • I’ll set new sales targets and goals
  • I’ll implement and stick to a budget
  • I’ll make time for meeting preparation

The biggest mistake entrepreneurs make in relation to their use of time is being in the present or the past. Creating systems to track what happens in real time will prevent pain from having to look back later.

Often, all the little things that pop up are mentally taxing. Larger, more complex mole-hills tend to become mountains because our natural tendency is to avoid difficult things. Although it’s a little extra work now, in the long-term it can save you a lot of time and frustration when you have a good system in place.

Another common thing we see is sacrificing the future at the expense of the present. How much will one more networking or education session help you when you could instead spend that time figuring out what you need to do? Often, these types of activities just add more to our plate. If we add more and don’t do it, we’re just wasting time.

Resolutions Help Meet New Year Business Goals

Setting goals and making plans to achieve them will help you progress, but making these resolutions can really help force you to be mindful of how you’re spending your time.

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