On January 1st many people make New Years’ resolutions to lose weight, exercise regularly, or save money. Unfortunately, many abandon these resolutions shortly after making them. We stop going to the gym and end up blowing our budget on a shiny new widget.
The new year is also a time when companies set their own resolutions for what they hope to accomplish in the coming year. Leaders think about growing their company by adding a new branch, developing a new product, increasing sales, or executing an acquisition. As the year goes on, it can be harder and harder to fulfill these objectives. Fortunately, you are not alone! Here are three tips to help you succeed in 2018.
- Be Strategic – Make sure you have a strategy for 2018 and prioritize initiatives that are aligned with your goals. Sometimes we make the mistake of trying to do everything at once and end up diluting our efforts and achieving nothing. Following a strategy will help you stay focused on what’s most important and produce results for your company in 2018.
- Measure Success – This year, periodically take time out from doing to reflect. Reflection has two purposes. First, intermittent reviews will let you know if your initiatives are working or if you need to adjust your course. While you may feel like you’re too “busy,” for these reviews, in the long-run careful analysis pays off and helps you achieve your goals. The second reason is to celebrate your successes to-date. Turning dreams into reality is hard and everyone needs encouragement to keep persevering.
- Take Risks – Many business leaders hesitate to take the next step forward because they are afraid. Fear of the unknown, fear of failure, or indecision, holds too many of us back from action. While I’m not advocating taking unnecessary chances, some risk is necessary for the growth of any business. Fortunately, there are ways to balance risk and reward including using tools for objective decision-making and using data to validate assumptions. Don’t let fear hold you back in 2018!
The real lesson here is that it’s not when you make a resolution, but if you follow through. It takes hard work and perseverance to stick with your goals and make your dreams a reality. I hope these tips will help your company thrive in 2018. Good luck!