New Year’s Resolutions Entrepreneurs Should Make

When people hear New Year’s resolutions, they often think of things like “lose weight” or “travel more” For small business owners and entrepreneurs, personal goals often coincide with professional goals. This is the perfect time to reflect on your business’ progress and create impactful New Year’s resolutions for your small business.

If you haven't made your New Year's resolutions yet, here are 6 the team at our coworking office think would be great for your business growth in 2018:

1.I will charge what I’m worth.

Do you feel like your product or service is undervalued or that you’re underpaid? If so, then this resolution will help your small business market to the right people instead of treading water speaking to the wrong customers.

It’s okay to raise your rates to be in line with the value you bring to the table! Depending on your business model, you can implement this in a couple ways:

• Create package value to give prospects more choices and shift from the time spent to the value of your offering
• Small discounts for client loyalty (tech companies do this all the time where you get a discount for paying for the year as opposed to month-to-month)

Once you’ve committed to charging what you’re worth, maintain the prices have the confidence not to lower your price in an effort to win new business.

2. I will promote my business regularly.

We get it, promoting your small business can often find itself at the bottom of your to-do list. But if you want to attract new customers, then you MUST make promotion a priority. As your New Year's resolution either hire a marketing expert or take the time to create a marketing plan on your own and follow through on it!

This resolution is perfect for entrepreneurs who haven’t updated their website in more than two years or made it mobile-responsive, haven't created an email marketing list, or don’t use some form of social media. Its 2018 so now is the time to promote what you do!

3. I will take time for myself.

Better work-life balance is possible and can help entrepreneurs prevent burnout. Start by setting work hours and sticking to them! Set the expectation with clients, family, and coworkers when you’re working and when you aren’t. If you don’t set these boundaries and create value around your time, then no one else will.  

You can also schedule “me” time on your calendar to free up time to do the things you enjoy, and don’t push the appointment with yourself. You wouldn’t just skip a client meeting, would you?

4. I will make business planning a weekly event.

“Without a plan, you plan to fail.” For small businesses being agile is one of our top strengths so this may just be the New Year’s resolution you need to grow a healthy business. But we understand running a business can be hectic and it’s easy to get sucked into the daily operations. Business strategizing on a constant basis helps you see quickly what worked and what didn’t.

Most businesses do this only yearly or quarterly which can lead to spending longer than necessary on costly mistakes. Break out your calendar and set aside time each week to review, adjust, and look forward to the week ahead.

5. I will stop spending time on things that aren’t working.

After business strategizing, you’ll know what’s not working for your business. Don’t invest a lot of energy into trying to make the unworkable workable. If a product, technique, or business relationship isn't working for you, then move on. We swear something better is in your future.

6. I will give back to my community.

Your business isn’t the only thing that matters! Make a difference in your community by spending time on a cause that matters to you. This resolution not only makes you feel great, but community involvement can create goodwill and local advocacy for you & the business.

If you use one of these New Year's resolutions for entrepreneurs through the year, you'll be energized to make your business the success both it & you deserve!
If you’re looking to make a difference in your business, tour our top Tampa coworking office. Be around like-minded entrepreneurs to help you make your 2018 business resolutions successful!

From the entire team at CoCreativ, cheers to the New Year!