What New Year’s resolutions can businesses make to ensure a better way of working and a sound balance sheet for 2020?
Here are 7 tips.
1. Set key business challenges
The first one of these 7 tips is to define reasonable monthly goals or projects and commit to accomplishing them.
Change management experts advise analyzing corporate culture to identify which long-term strategies can be adopted in order to achieve deliverable results in the established timeline.
Allocate skillful and responsible staff accordingly, monitor progress constantly and set small rewards for achieving common goals by involving and motivating them.
2. Keep things real
With an unstable economy, market uncertainties and shaky consumer confidence, it’s more important than ever to consider where cuts can or have to be made.
Focus should be on redundant activities that, in spite of being part of the overall operations, are not generating real profits. Although this point may sound pretty obvious, there are still many small and medium-sized enterprises that struggle understanding this passage, in the name of the evergreen “We have always done that way, why change?”.
Avoid getting tangled up in your own work routine
3. Encourage customer’s feedback
Constructive criticism helps to understand customers and provides first-hand insights on improvements that can be made. Listen to old and new customers, and find out what they really want, need or like. This will show you are willing to adapt to their requirements and, eventually, serve them better.
4. Build partnerships through networking
Setting up strategic partnerships should be a year-round objective, but the New Year is the perfect time to expand our contact base and develop new alliances. The overwhelming popularity of social networks makes it easier to showcase products and services, find opportunities and generate new revenue.
Many call this “the era of the new collaborative economy”.
5. Surround ourselves with good, efficient and positive people
Businesses have the opportunity to recruit fresh and enthusiastic resources eager to learn, test and show their skills. We have to be clear and consistent in communicating our message to our staff. If it’s not effective and we don’t deliver it in the right way, then the response will most definitely be unsatisfactory.
Let’s be inspiring and let actions speak of our plans and dreams.
6. Believe in everything you do.
Passion and the desire to make a difference are crucial to pursuing and reaching goals, really any kind of goal. The only real way to learn is to try.
Forget what’s comfortable! It has been said that the quality of our lives is proportional to the amount of uncertainty we can embrace.
7. There is no failure, everything is learning.
Last but not least of these 7 tips is that when we commit to taking action, it’s always a victory. There is a great quote by Vince Lombardi, the legendary American Football coach, that should be regarded as everyone’s resolution for each New Year that starts.
Businesses are no exception.
A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive, and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done.
