If you’re a business owner, leader, or have the ability to shape the outcome of your organization, I have to ask, are you actively pursuing goals for the new year with your business, and will you have the right tools to succeed?
YouGov did a survey of the top NY resolutions in mid-December and below are the results…
Amazing results but we’ve seen most of these before, right? And we all know that #1 on the list keeps our favorite gym in business all year round. Many of the choices we make are noble, but sometimes the statistics show that we lack the follow-through or maybe the right tools to get the job done. History has shown us, the road to failure is paved with good intentions. Our job as leaders is to increase our chances for success by having the right tools in place.
If you’re a business owner, or leader, or have the ability to shape the outcome of your organization, I have to ask, are you actively pursuing goals for the new year with your business, and will you have the right tools to succeed?
Here are a few of the best examples of “New Year’s Resolutions” for your company, AND more importantly, how you can get the right TOOLS in place to reduce your risks and increase your odds for success.
- BRAINSTORMING – This is a great time to stop, reflect, and put new ideas into motion. The new year seems to create a great environment for getting the creative juices flowing, and there is no better time to create new habits within your organization. Take the time to engage your team and cultivate an environment for new ideas. Your next million-dollar idea, product, or service could be just a conversation away.
- DELEGATE – Work hard to identify areas in which you can delegate responsibility. This doesn’t only apply to the individual; it can apply to the business. Great leaders surround themselves with great people that know more than them. In business, look for areas that others may do better, or more cost-effectively, and capitalize on the recaptured time of your teams.
- LISTEN – Listening is a great skill and it’s one that takes practice. Practice listening to your team, your clients, and your intuition. This will take you much further than continuing to do things as you’ve done them in the past.
- THANKING YOUR CLIENTS – This is a big one! There is much more to thank your clients, than just sending a thank you card. You will always “get” great referrals from those who like and trust you. Take the thank you to the next level by simply asking if they are happy with your service, and if they would recommend you to others, then get those names and numbers. Better yet, ask for a personal introduction. Warm intro = high % close.
- REFINE YOUR AUDIENCE – Do you know who your best customers are? By defining who your best customers are, you will be able to target those who you want to do business with. Refine your audience by doing business with the right type of customer.
- CONNECTING WITH YOUR CUSTOMERS – The pandemic introduced us all to some very interesting working habits; some good and some bad. Many of those habits are still in place with Zoom calls and working from home. Rekindle your relationships with your best’s customers, to ensure they know who you are. If they know you well, it’s much harder for your competition to steal them away.
- CASH RESERVES – A simple principle that goes a long way, not only in your personal finances but also within your business. Lenders, VC firms, and good business people in general value the evidence of cash reserves in your bank account. This shows that you know how to manage your budget and look great when, and if, you decide to sell or exit.
- DIVERSIFYING INCOME STREAMS – We’ve all heard of side hustles and having multiple streams of income, right? Your business should be no different. Be creative and look for ways to generate income from other sources. Your business could be in software, but diversifying by investing in real estate. Don’t get distracted by doing this, but focus to find areas that can enhance your net worth, even if it’s in a related or ancillary industry.
- DEVELOPING YOUR BRAND – This could not be said any clearer… Your BRAND is more important now than ever in this digital age. Try using AI technology to generate copy and content. Take some time to shoot a podcast, chop up the content into shorts, and utilize it to communicate directly with your customers about important topics. This will help you make the all-important connection with potential clients as well.
- STOP MICROMANAGING – There’s a lot to be said about strong leadership. One of the best signs can be when you let the qualified people (that you hired) do the job they were intended to do. This lessens the stress on you, and upon your team. Stop thinking that you can do it all, and do it better. Give some latitude to those people who need to feel some ownership in helping build your business and your team. Loyalty is built with trust.
These are simply but a few suggestions for you and your team to think about implementing within your operation. Dependent on where you are in the life of your company, there may be more important things that you would put on your personal or company list. I feel the most important thing is that you take action to get the right tools in place so you’ll have an amazing 2023.
In closing, remember… that Choosing the right Tool(s) matters. Never try to drive a nail with a set of pliers or a screwdriver. Choose the hammer… it’s made to do the job more efficiently.