New Year’s Resolutions for Entrepreneurs

Updated: Jan 24


The new year is upon us, and therefore it’s time to start thinking about your resolutions for the year 2020. Often people are reluctant to make resolutions at the beginning of the year, in fear of not reaching their goals. More often than not, people fail to reach their goals because they are either unrealistic or unreasonable. As an entrepreneur, here are a few goals that you should consider as you enter the new year.


Understand Your Finances

Learning the basics of accounting is incredibly useful to you as an entrepreneur. Even if you have your own accountant or accounting department, it’s a good idea to familiarise yourself with the basics. Learning the basics will help you make financial predictions, pay off debts, lower your expenses, measure your business’ progress, and even ger your personal credit up.


Get Healthy

The last thing you want to be doing is running a business while you are exhausted and burnt out. This year make it a priority to be healthy on all levels, mentally, physically, and emotionally. Try exercising and eat right, you will find that you will be more productive and happier. With fewer sick days, you can get more tasks accomplished.


Be More Social

If you aren’t already active online, this year is your year to become a social butterfly. Getting involved in social media is one of the most advantageous ways to interact with customers, increase brand awareness, and connect with leaders in your industry. If you have an inactive Facebook, Twitter, or LinkedIn, make it your mission to resurrect these profiles.


Spend More Time Not Working

There are some entrepreneurs, like Elon Musk, who dedicate more than 60 hours a week. This may work for him, but for the average entrepreneur, it is not feasible. When you work too much, you can easily get burnt out and even lose sight of why you become an entrepreneur in the first place.

Be sure to make time for your personal life. Spend time with your friends and families, and step out of the office to clear your head. Spending time out of the office will do wonders for your health. The office won’t burst into flames if you take a long weekend.

Hire Smarter

Investing in your hiring process will be beneficial for your business. The right people will help bring the best out of your company. You’ll find that your business will grow and turnover will stay at a low.


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