Business Resolutions: Taking Your Business into 2011

This time every year, people draw up lists of New Year's resolutions: lose weight, exercise, quit smoking, etcetera. New Year offers us a sort of "restart" opportunity to throw off the chains of doubt and walk towards our “dreams.” This January 1st, 2011 will be no different but if you’re in business for yourself you might want to take the time to commit to some Business Resolutions.

Here are 5 possible ideas:
1. Listen more. This is my No. 1 business — and personal — New Year's resolution because listening is a critical skill for both business and personal success. Listening — really listening and not just thinking about what you're going to say next — enables you to understand others, empathize, and build relationships. That's critical whether you're interacting with customers, employees, suppliers, or your family members and friends. Don't be quick to start talking about yourself, your business & products. Instead, ask questions, find out about what the client needs, why they need it, what motivates them.

2. Embrace change. Frankly, in today’s economy you have to be willing to step away from what has always worked in the past to see what will work in 2011. Technology is also changing rapidly (including the social media phenomenon) and if you think you can sustain and grow your business without paying attention to this arena, you will be fighting an uphill battle.

3. Be brave. There's no question that 2011 is going to be a challenging year. It's going to take courage to get through this. This part goes along with embracing change. This is life and I for one am not going sit in the corner and cry. I’m going to be smart, think outside the box and make my dollars work for me. My family and I chose the middle of 2010 to start a new business which to anyone else looks like suicide. We’re doing more than surviving, because we’ve listened to the needs, changed with the times and cut out frivolous costs. Your business should be adaptable so let go of the fear!

4. Grow. Yes, even now you should be making plans to do more than just keep your head above water. Many companies come out of recessions much stronger than when they went in. That's because many competitors are weakened or go out of business altogether. And disruption creates opportunities. Take advantage of them.

5. Cut Costs. Being brave, embracing change and growth doesn’t mean you don’t need to watch how you spend your money. Be smart with where you need to invest your returns and where you can trim excess fat. Negotiate hard with suppliers, cut down on every unnecessary expense, find innovative (inexpensive) ways to keep marketing. (By the way, cutting Marketing altogether is not a smart cost to cut.)

Now I know the problem many have is that by Valentine’s Day most people have given up on their New Year’s resolutions. This sadly is a fact of life but I emplore you to consider this...

“In times of change, learners will inherit the earth while the learned will find themselves beautifully equipped to deal with a world that no longer exists."
~ Eric Hoffer, American writer and philosopher, (1902-1983)

Be a “Learner” who lives in today, prepares for tomorrow and learns from the past! Happy New Year!