7 Resolutions That Every Entrepreneur Must Make In 2020
As the new decade begins, entrepreneurs are ready to take up the new challenges, it is important for them to plan new strategies to tackle the obstacles. Here are some resolutions which can help the entrepreneurs to take their business to a new level in 2020.
As we are already in 2020, it is crucial to bring changes in the business strategies and prepare for the upcoming challenges & opportunities.
Changes happen every day at a compounding rate; what we have created might change by tomorrow.
Hence, the start of the New Year is a great chance to figure out where you’d like to be and plan an action that can help you to get there.
As an entrepreneur, setting the business goals and preparing for the future is essential to success. Without a plan in place, it’s impossible to determine the next steps. It could be anything more income, launch new product or service, or expanding the pool of employees, etc.
To make the most out of the years to come, following are some of the new year resolutions that can help entrepreneurs to achieve their goals.
Implement Sustainable Business Ideas
2020 is definitely going to be the year of sustainable and creative ideas.
While there is always a challenge to maintain the balance between economic growth and the environment, it is the responsibility of the entrepreneur to solve the problem and create new business models.
With this change, entrepreneurs can provide the product or service that reduces energy and address the concerns of sustainability. Entrepreneurs, who have the vision of sustainability at its core, can bring change and provide value to the customers. They can easily identify the opportunities in a new market and helps businesses in increasing profits.
Take Steps towards Business Agility
Looking forward to 2020, the agile concept is expected to grow even more rapidly. Today, the nature of the business has been shifted to continuous delivery and faster speed to market. Decisions are made quickly.
With today’s level of uncertainty, ambiguity, and globalisation, it is crucial to be agile and quickly respond to change. Thus, entrepreneurs must focus on achieving agility to tackle complex tasks, deliver faster and reduced time-to-market.
Adopting an agile mindset helps you to prepare for challenges driving more business opportunities and fostering innovation.
Focus on Change Management
Gone are the days when change took place at the long intervals. In today’s fast-paced environment, organisations are facing more complex changes than ever before.
Companies are ready to accept, embrace, understand, and commit to the changes without any resistance. Change helps to learn new skills and enable to explore new opportunities that benefit the organization.
Today leaders are implementing the changed mindset to revolutionize the market:
- Customers are ready to pay premium amounts to opt for safe, reliable and high-value products.
- In order to adopt new change models, business is ready to leave the contented lifestyle
An entrepreneur who focuses on strong culture change will be able to create a competitive advantage and maintain the company’s productivity.
Invest in Good Skills
The New Year is the best time to hire the right employee.
When recruiting, choosing the right person can become the right face of your company’s brand. The inexperienced workforce will create a negative impact resulting in the risk and failure off. Thus, it is important to hire the right workforce that has the required skills. A comprehensive background check can help the organisation to mitigate the risk.
However, hiring the right talent is not easy; but the right approach of attracting and retaining the top-notch employee increases the chance of your success. As and when the company grows, they must provide the appropriate training so that employees can catch up with the pace.
Because one outstanding contributor is worth more to the organisation than two usual ones.
“Continuous learning means improving yourself on a daily basis and making a better version of you for better tomorrow.” – Umesh Langade (Senior System Eng. Infosys)
In today’s technology age, things change at a rapid pace, affecting every aspect of professional life. Continual learning is crucial, and not the choice.
It is all about expanding the employee’s skill set, knowledge, and expertise by providing the right toolset that fosters innovation. An entrepreneur can train their employees for future opportunities by cultivating the constant learning culture in the organisation.
Many organizations invest in learning platforms so that employees can have access to the information, share what they’re learning at any time from anywhere. As continual learning expands knowledge and supports the company’s goals, it is the basis of organization culture.
Boost your content strategy
With each year comes to the new content trend; if the entrepreneur doesn't align the content strategy as per the current trend, the business may fail to drive traffic to the website or generate leads.
To check what type of content leads to engagement, entrepreneurs can track their website by analysing:
- Returning visitors
- Daily traffic
- Unique visitors
- Organic keywords
Take a look at the past strategy and analyse what worked and what didn’t. When you are aware of the things you need to improve, it becomes easy to create a content strategy that is appropriate for the business.
Provide outstanding customer service
Providing great customer experience is crucial for the business to be successful. However, you may be providing the best customer service; it is significant to bring change in the service so that your customers are more contented in the years to come.
Though investing in the new customers is far more expensive than retaining the existing one, thus, the entrepreneur must think upon this resolution to provide better service in 2020 and beyond.
It’s time to create a plan and put them in action.
It’s time to do the makeover of old entrepreneurial goals and rethink the strategies to achieve new goals.
It’s time to embark your journey on innovation;
Its time to break old things and devise new ones
Forget about the past strategies that didn’t work and focus on the objectives of the next twelve months.
However, setting your goals SMART (specific, measurable, achievable, realistic, and timely) will prevent you from giving up on your New Year’s resolutions and increase the chance of achieving them.