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New Year’s Resolutions for Entrepreneurs for 2020

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New Year’s Resolutions for Entrepreneurs for 2020 

As 2019 is going to end, it marks not only the end of this year but also this decade.  Many of us have already begun to think about our new year’s resolutions for 2020. 

Traditional resolutions such as ‘eat healthier and exercise more’ will fall high up on most lists, although if you are a business owner or entrepreneur, why not take a different approach to your new year goals?

Every New Year gives a sense of motivation to address aspects of our business that we need to change. Whether it is a desperate need to streamline communication or to focus more attention on your brand’s social media page, take advantage of this surge of motivation to make the long-overdue changes. 

  • Plan for the Future 

Establishing a new year’s resolution list is a great way to track your business’ growth throughout the year and ensure your motivation is focused on achieving them, but why stop there? Take some time to think about what you want for your business beyond 2020, and into the expected future. 

Where do you see yourself in 2, 5 or even 10 years? Keep these goals close, look over them from time to time, and adjust your habits and actions to achieve them as your business grows.

  • Offer Experience to Those Starting Out 

Do you remember when you were starting in your industry? How would you describe the experience? Looking back, do you wish you had more support or opportunities? Offering some sort of support to talented, hard-working people can be fulfilling. 

Establish a meaningful connection that could pay off down the line. Give them a mentorship program, providing work experience or simply impart some of your wisdom. By offering some form of support to these hard-working youth can go a long way when it comes to kick-starting their career.

  • Take Less, Give More

Giving more to those who need is a common New Year’s resolution adopted by individuals and businesses around the world. The key reason behind devoting your time or money to a worthy cause is to create a positive impact and to help others, although the practice can be good for your brand reputation.

Not only it is beneficial for the community, but the practice is also tax-deductible an excellent marketing tactic and a great way to boost the morale of your staff members. It’s a win-win situation. Make a positive impact by making a conscious decision to support a cause close to your heart in 2020. 

  • Broaden Your Team and Delegate More 

Delegation is a common practice adopted by many leaders to boost morale, save time, and increase productivity.  As a business owner, it can be difficult to put a crucial task in the hands of someone else, especially if you want to be in full control. 

If you find it difficult to hand over a task to another person, set a new year’s resolution to delegate more. Try to begin with something small. 

Delegate a simple task onto someone you trust, and if they perform well with this responsibility, continue to do so. As time passes, you’ll build trust and common understanding with your employees which can make the delegation process much easier and will overall leave you with extra time to focus on more important tasks. 

  • Share More Content on Social Media 

A strong social media presence is an asset which you should not underestimate in this age of digitization. 

A well-engaged Facebook or Instagram page can increase the number of potential customers, breathe more personality into your brand, and provide a platform for you to directly speak with your target audience. 

It’s a unique and powerful tool to have as a small business owner. Although despite the benefits, many businesses still aren’t taking full advantage of social media. Make the change this new year by not only creating an account for your brand but by also sharing a consistent stream of content for your audience to engage with. 

How can you get started? If you’ve already established your desired target audience, it’s easy to create and share a combination of content including images, videos, and blog posts. 

Use social media analytics to see what’s working for your brand, and begin to tailor your content for your followers. From here, it’s merely a matter of staying on top of your content creation, posting as regularly as you can, and interacting with your audience.

  • Dedicate Time towards Networking 

Generate more referrals, create new opportunities, and attain advice from other like-minded individuals; these are a few simple benefits that business networking can deliver. 

However, it’s a practice avoided by many business owners due to the uncomfortable nature associated with putting yourself out there and meeting new people. Due to the unlikely fear of rejection, many individuals will never even try this. 

Networking is vital when it comes to growing and sustaining a small business, so make 2020 the year you turn it into a habit. 

Put aside some of your valuable time and begin by finding some local networking events in your area. Once you’ve found an event, summon up some confidence and commit to attending the event. It’ll most likely feel a bit unnatural or awkward at first, although your confidence will begin to shoot the more you try it. As they say, practice makes perfect. 

Over to You

In the upcoming decade, if you want next-level entrepreneurial success then you should set boundaries and create priorities so you know what is more important to you. So what’s your business game in 2020?

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