As we settle into the new year, here are four resolutions every entrepreneur should consider adding to their 2017 goals.
At the top of that list: Make a commitment to take more stress-free time off this year.
For most entrepreneurs, the hardest thing to do is to take time away from their business. Even when they try to take time off to enjoy life, they cannot. Their minds simply do not allow them to let go.
That said, it is critical to find a way to step away. Failing to do so can have catastrophic results.
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A friend of mine was the owner of a small business, and I could not get him to reduce his stress. He was worn out by everything he dealt with on a daily basis, and you could just look at him and tell he was not doing well. However, he refused to change and ultimately had a heart attack, which forced him to cut back.
Four easy resolutions for business owners: 1. Reduce stress 2. Deal with the economy 3. Learn about technology 4. Consider all stakeholders
In so many ways, this incident turned his life around. Now he looks back and wonders why he let stress eat him alive. So, in 2017, resolve to develop a plan for reducing stress.
The second resolution: Develop ways to deal with whatever happens in our economy.
With a new president entering office on Jan. 20 and interest rates likely to continue to rise, this year will be chaotic. Although it is nearly impossible to predict what these circumstances will bring in 2017, you must develop contingency plans for every probable outcome so you are ready to respond no matter what happens.
The third resolution: Commit to learn more about technology.
Understanding information technology isn’t the responsibility of one person or department. Every part of the organization should have intimate knowledge of how technology can affect their areas.
Technology changes at lightning speed, and every entrepreneur must make an effort to learn more about it so that they are prepared to make decisions when needed.
Finally, make sure you consider all stakeholders in your business – don’t let one have too much weight in your decision-making process.
Some businesses try to become employee centric, but doing so lets other stakeholders fall to a secondary level. Vendors, customers, owners and employees are all stakeholders in your business, and they each need to be considered fairly.
If you make these four resolutions part of your goals for this year, it should help lead to success.