Resolutions for the Business Owner

As you write down your list of personal resolutions this New Year, take a minute to think about your role as a business owner. That’s right. New Year’s Resolutions aren’t just an excuse to keep writing lose five pounds every single year. It is a great time to stop and evaluate what you want to improve about your role as owner and your business.

• Be kinder to your employees. Yes, this one extends far beyond the workplace, but seriously, are you treating your employees the way they deserve to be treated? Do you listen to their concerns, feedback, and comments? Are you approachable? Do you recognize their efforts and contributions to your business?

• Be kinder to yourself. Business owners are responsible for so much, and it is very easy to tear yourself down. Don’t. This year practice the art of grace and make sure you are not beating yourself up for every mistake or failed decision.

• Check your budget. It is time to gather up everything for taxes and review your spending. Did you spend too much in some categories and too little in others? Just like evaluating your personal finances, now is a great time to check your business spending and make adjustments and think about growth investments.

• Set some realistic goals. That’s right. Realistic. Yes, every business wants to make millions and millions of dollars, but for many small businesses that just isn’t the reality. Instead set small manageable goals that will inspire both you and your employees. Maybe you want to have one day where you do over $10,000 in business or maybe you want to sign two new contracts in January. Pick things that can be achieved with a little extra work.

• Know when you need help. Did you know business owners can’t actually do it all? Sometimes you have to admit when you can’t do something even if it will cost you money to have someone else do it. If you don’t know how to to develop an app, for example, go ahead and pay someone. The amount of time you will spend researching, getting frustrated, and then eventually giving up is much more expensive than the cost of a developer. Admitting your weaknesses is an important part of being a business owner.

Being a good business owner means re-evaluating and making changes. The New Year is the perfect time to do that. You and your employees will come back to a better thought out year and a fresh boss.