New Year’s Resolutions
More than 80% of New Year’s resolutions are broken, many within weeks. Just over half (54%) of them involve financial resolutions, reports Fidelity Investments.
According to Forbes, one of the biggest reasons for failure is that the individual or business doesn’t have an accountability structure to help sustain change. So, if you and your team are making resolutions, ask three important questions before putting them on paper. Are the goals or resolutions doable? Are they sustainable? Is there accountability?
Tip: When it comes to staffing, remember that you don’t want to lose a good worker because a bad one pushed them out.
What to Include
Here are suggestions from several sources, including thedigital.com, Forbes, Entrepreneur, and connectedinvestors.com.
• Review your goals.
• Review your current business plan.
• Create monthly cash flow projections.
• If something isn’t working, dump it.
• The same goes for a problem employee.
• Increase your commitment to social media.
• Delegate, delegate, delegate.
• Listen more…to customers and staff.
How to Make Them Stick
• Write them down. A Dominican University study pegs written goals as 42% more likely to last than “conversational/spoken” ones.
• Break goals into small, incremental steps.
• Make sure they’re measurable.
• Prioritize them.
• Reward yourself and staff as you take those steps.
• Create realistic but specific deadlines for achieving them.
• Create a monthly cash flow plan that you can update at the end of each month.
• When it comes to staffing, remember that you don’t want to lose a good worker because a bad one pushed them out.
Have you set any New Year’s resolutions for your business? If so, tell us about them and share in the conversation on Facebook here.
Erinn Morgan
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