Gearing up for 2020 as a business owner:
- Reflect and Resolve: Look back on the year past. What worked? What didn’t? Reflect on the goals that you made and if they were achieved. No matter if you fell short or if you exceeded, consider the circumstances for why and how your goals for the next year should change accordingly. Next, evaluate your successes. Make sure to celebrate these, whether they are big or small. And as you recall everything that went well, evaluate your takeaways–what did you learn from these, and how can you continue to succeed in the new year? Finally, look back on what you wish you had done differently or had hoped to do better. Though you may have had a great and profitable year, seek out these areas of improvement for an even better year to come!
- Anticipate Automation: You may have heard of the foreboding concept of computers taking over the world, AKA automation. It is no question that in the digital age, our world is changing at a faster rate than ever before. But as a business owner, it is necessary to consider how it will change and what a world of automation will mean for your business. Several projections estimate that about a quarter of all jobs are at a high risk of becoming obsolete in the coming years with new technology. However, don’t let these somber estimations scare you too much. With a more computerized world comes new opportunities. It could free your employees of menial tasks and allow them to foster their creativity and innovativeness. Though no one knows completely how our world will change, make sure you and your business is ready to embrace all that’s to come!
- Boost Your Online Presence: People of all ages are online. They shop, they’re inspired, they work, and they learn all on the Internet. So without a strong online presence, your business will get lost on the unvisited pages of Google. Make sure that your social media and online presence is up to speed, frequently updated, and always improving. As we approach the new year, take time to review what you’ve been doing and how you might do it better. Evaluate your engagement stats, your website performance, and its SEO. How can these all be improved and updated for current trends (which change very often.) Keep these stats in mind year-round and resolve to attend to these with greater consistency in the new year.
- Find Ways to Cut Costs: Over the years, your business may have accumulated a few unnecessary subscriptions or kinds of software that you either rarely or never use. And with a busy schedule, these often go forgotten. So, as you head into 2020, take the time to check if you’re paying for anything unnecessary. Evaluate your use of every service and tool and consider the value of its usefulness. If it’s seldom used to grow your company, quickly unsubscribe. You may also assess the costs of the services or products on which you do depend. Consider cheaper or free options that could provide the same value. Make sure to welcome the new year free of debilitating costs.
- Set Personal Goals: As the leader of a business, your personal growth will influence that of your company. So, what do you need to grow this year? While personal reflection can be exceptionally challenging, make sure to honestly evaluate your strengths and weaknesses as you seek practical means for improvement. In doing so, you’ll become a better leader, a more compassionate boss, and a more mindful entrepreneur. Here are some questions you might consider in your reflection:
- What are your areas of weakness? This isn’t a job interview. You can be honest. What are your real weaknesses? (not just those that are actually strengths) Reflect on the areas in which you regularly fall short.
- What are your interests? How do you hope to see your company grow in the context of your passions? Consider the opportunities you might have to pursue your interests and ambitions. This will renew your love for your industry and spark creativity.
- How will you address the evolving needs of your business? As your company continues to grow and change, your responsibilities as its leader will change as well. Be aware and attentive to these in the upcoming year.
As you gear up for 2020, spend some time in reflection. Recollect the joys and successes of 2019. Take some time to thank your employees. And be sure to anticipate change with the new year. 2020, the year that always sounded distant and futuristic is almost upon us. So be sure to welcome it with open arms!