THE BLOG

Top 3 New Year's Resolutions for Entrepreneurs

07/01/2015 11:05 | Updated 08 March 2015

A New Year is a great time to refocus and regroup. It's a good time to take a long hard look at many aspects of our lives.

At this time of year many people set personal health and fitness related goals. Health clubs will be bursting at the seams and weight loss products will be flying off the shelves.

As well as your physical condition, it's also a good time to look at what shape your business is in and where it will end up if you stay on the current course.

Many people will already have budgets and plans in place but this should not be a reason to miss the opportunity to re-visit, re-invigorate or even re-invent your business in preparation for the year ahead or the rest of your financial year end.

Before steaming ahead and planning for the 2015 take a moment to reflect on last year.
• What went well?
• What could have gone better?
• What do you want more of in 2015?
• What do you want less of in 2015?
• And a big question: what would it take to double your turnover this year?

1. Take a personal skills audit:

Do you need to upgrade your skills in order to take your business forward?
Very often in small or new companies, the business owner has to wear many hats. We don't always have the luxury of having individuals who specialize in one certain area of our business.
Rate yourself in the following areas on a scale of 1-10 with 1 being very low skill and 10 being you are fabulous in that area. Also acknowledge how important the skill is to the future success of your business:

1-10 Current 1-10 importance
Sales
Marketing
Finance
Negotiation
Social media
Business planning
Networking
Creating content/ blogs, articles
Public speaking
Copywriting

Once you have done a basic skills audit put them in order of priority and consider how you are going to fill any skills gap that may exist. Is this a new member of staff, someone who you can outsource to or is it you?
Many entrepreneurs appreciate the importance of investing in their business but don't always appreciate how important it is invest in themselves and keep their skills and knowledge current.

2. Hire a Business Coach or Mentor (if you don't already have one)

Working with a Business Coach or Mentor is increasingly being seen as not only valuable but a vital resource for Entrepreneurs. Working with the right person can significantly fast-track your success. Although there is usually a cost associated with working with a coach or mentor many people find that the increase in productivity and profitability negate the cost.

3. Take your business for a test drive.

The popular TV show 'Undercover Boss' highlights the power of going back to the shop floor. Many of the CEO's find that their teams are struggling with out of date tools, systems and procedures. As a result of spending a week or so in various departments undercover, they make radical changes when they get back to the board room based on fact.

As a small or new business it is unlikely that you have become detached from the front line of your business but revisiting your customer journey on a regular basis will help you keep your finger on the pulse and iron out any potential flaws before they become a problem.

• Try viewing your company website on various mobile devises.
• Complete contact forms and look at auto responder emails.
• Fill in enquiry forms and see how long it takes for someone to reply (assuming its isn't you replying).
• If you are are a using virtual answering service test them out on a regular basis.
Businesses are varied so work out what your customer journey looks like and see if there are any weaknesses or points for praise for your current staff.

What would it take to make 2015 your best year yet?
Create a clear vision and clarity about how you can achieve it and then commit to making it happen.