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 differ 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 never have enough. So, how do you change what you do (or don’t do) to use your time better? These are just a few ideas that have helped us in the past.
Small Business Resolutions That Limit Distractions
- I will turn off 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, sometimes not.
We all need time to rest and recharge, so having dedicated time to rest will greatly impact your productivity when you 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 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 needs to be well thought out and will be impacted by your chosen strategy.
Having processes mapped out and, when possible, automated will allow you to do less when executing a process.
Jonathan Carter, CPA, CMA, CPB
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 review them at least once a year to ensure 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 add more to our plate. We’re wasting time if we add more and don’t do it.
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.