Top 5 New Years Resolutions for Business Owners

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As it’s the start of the New Year, you have probably already made some personal New Year resolutions like going to the gym more or eating healthier, which we hope you are sticking to so far! Now is also the ideal time to not only assess your personal life, but your professional life too.

It’s important to look to the year ahead and decide on some resolutions and goals for what you’d like to accomplish in your business. It’s a common fact most resolutions are forgotten about by the time we hit February as it is hard to keep up the enthusiasm for months on end but it’s not impossible. This year try to pick one or two worthy resolutions and stick with them.

Regardless of the type of business, here are five New Year’s resolutions every business owner should make to help you strike a better work-life balance, so you can achieve a truly satisfying and successful year ahead:

1. Automate or Delegate Routine Time-Sapping Tasks

There are so many things to do as a business owner and it’s easy to delude ourselves that we need to do all of them. Then we wonder why we’re so tired and frazzled and have no time to do anything else like actually work on building our business or enjoying the fruits of our labour.

Put a value on your own time, and always look for opportunities to delegate or automate recurring tasks or low-value activities. The best use of your time as a business owner is not troubleshooting, being the number one contact for your customers or getting bogged down in admin, but is in seeing new business opportunities, providing leadership to your team and mapping out the future of the business. Give your team the tools and processes, then watch them shine and see how much time you gain for more valuable activities.

2. Create a Default Diary & Plan For Fun

During the day-to-day running of a business, it’s too easy to get distracted with unnecessary tasks. By creating a default diary your time will be better-managed to focus on the important, valuable tasks, and you will get more quality work done in the available time.

When setting out your default diary for the year ahead, make sure to also plan in time for fun! Put some time in the calendar for what is important to you –  e.g. Holidays, Children’s Birthdays, Sports events etc.  You didn’t get into business to work all the hours that god sends. Make sure to reward yourself for a job well done. It will keep you more focused and passionate about what you do.  All work and no play is a recipe for mental and physical disaster!

3. Learn Something New

Learning something new will add to your skills and add a new dimension of interest to your life. To grow and develop your business, you need to constantly grow and develop yourself! Depending on what you choose to learn, you will also meet new and interesting people, who may become customers, colleagues or friends. This will also help you in achieving a healthy work-life balance.

4. Go Meet More People

Join a good local networking or business group. There is nothing like talking to fellow business people to spark new ideas, refine old ones, and make valuable business contacts. It is a great way to spread the message about your business and gain valuable insights into how to move your business forward.

5. Review and Plan Regularly

Planning is vital if you want a healthy, growing business. Every business needs specific goals to strive towards, and without a clear roadmap, how are you or your team expected to achieve the desired outcome for your business.

Regular business planning lets you take stock of what is working in your business, what strategies are not working and what needs to change.  It also helps you to set new directions or adjust old goals. Learn to set aside time in your new default diary every quarter to review, adjust and look forward. This will help you not only to avoid costly mistakes and stay on track, but will also help you feel more focused and relaxed.

We hope these few ideas help when choosing your professional New Years resolutions for 2016. Everyone knows keeping up these resolutions is hard work but if you can even just apply one or two it will make life easier and business more successful.

Author

Paul Fagan is Managing Director of Business Coaching Ireland, which is part of the largest business coaching, mentoring and training franchise company in the world, ActionCOACH Business Coaching. Business Coaching Ireland are providers of the ManagementWorks Business Growth Programme and Business Leadership Programme.