Make Your 2020 Business Resolutions More Meaningful by Taking Stock of your Wins and Losses in 2019
Whew! You’ve survived the holidays, and you’ve made it to 2020.
Hopefully, you’ve already made a business plan and a few business-related resolutions for the new year.
The problem is resolutions are easy to make and, unfortunately, just as easy to give up on. That’s because they tend to be too broad. Your new year resolutions need to be specific, so they are more impactful on the growth of your business and you personally.
We have a few suggestions for you. But before we delve into them, it’s essential to examine what you did right and what you did wrong last year. Taking stock of the past year before making your resolutions helps you define more appropriate goals for yourself and your business.
So, grab a pen and paper and prepare to take stock on the current state of your business and how you got here.
Celebrate your most significant accomplishments of 2019
Let’s start with the positive.
Last year you made some decisions that positively affected your business. Think about everything you did right in 2019. Out of all of them, what were your most significant accomplishments?
Now, why were these accomplishments successful? What obstacles did you overcome to ensure these strategies helped grow your business?
How can you build off these successes in 2020?
Embrace your failures so that you can learn from them
So, you had some wins last year.
But you’ve undoubtedly had some losses.
It happens with any business.
Along with your greatest successes from last year, make a list of your failures. Then list the reasons you think contributed to these failures.
Maybe your social media strategy was ineffective, and you didn’t see the growth in your audience that you would have liked to see. Or perhaps your product parties didn’t warrant the uptick in sales or new clients you were expecting.
Mistakes are made so you can learn from them. As the famous saying goes, “fail fast.”
Now that you’ve listed your successes and failures from 2019, it’s time to look ahead to 2020.
Use the lessons you learned last year to grow your business in 2020
Using the two lists you made, it’s time to think about your 2020 resolutions.
As we mentioned earlier, we do have some recommendations. Though they won’t be easy, these resolutions will help you think about ways to further address your successes and failures from last year so you can build from them throughout the year.