New Year is around the corner, and everyone is gearing up to making fitting New Year’s Resolutions trying to follow the annual self-improvement tradition.

Everyone around us is setting goals but only a few are able to achieve it by the end of the year and all of us know why. If you plan to set unrealistic and unapproachable goals, then you are bound to fail. But then again, we are entrepreneurs and we win where ordinary people fail!

Your New Year’s Resolutions can help you achieve the long-term success by helping you gain perspective and make you a better individual both professionally as well as personally.

We at Merrchant are making these New Year resolutions and other businessmen and entrepreneurs should also consider making these as they look ahead to 2018 with a clean slate:

  1. Be a Better Planner

When you lead a business, you are constantly under pressure and are expected to determine the long-range plans and strategies. Take a step back and plan out your goals- closing a big sale, wrapping up a product update, hiring or firing employees- meticulously planning out everything is the key to success.

lan well in advance
Plan well in advance
  1. Keep a track of your spending

Concentrate on understanding the basics of accounting, even if you have a fantastic accountant or even an efficient accounting department. The key is to familiarize yourself with the basics of accounting since it will help you pay off debts, make financial predictions, cut down on expenses, measure the progress of your organization and also help you in getting your personal credit up. Learn to spend wisely.

Don’t just spend money because you can. Wise men always keep a track of their spending and make thoughtful financial decisions and so should you.

Keep track of your expenses
Keep track of your expenses
  1. Spend some ‘Me’ time

This piece of advice is not only extremely worthwhile but should also be religiously followed because you are constantly changing whether you realize it or not. Focus on being a better person. Meditate and introspect and constantly strive to be a better person.

Make time for yourself
Make time for yourself
  1. Learn to say ‘No’

If there’s anything we have learned from Jim Carrey’s movie “Yes man” it is that we must learn how to say ‘no’. People undermine the significance of saying no or refusing to do things they don’t like and that’s why almost all of them are stuck in a rut. Don’t be like them, take a stand for yourself whenever you feel it’s necessary.

Learn to say no
Learn to say no
  1. Don’t be judgemental

Being quick to judge will only cause problems for you in your professional as well as personal life. So, this year learn to be patient and make informed opinions after checking all the facts.

Refrain from judging
Refrain from judging
  1. Associate yourself with philanthropy

If you are an established entrepreneur and you think you could achieve it all alone, then I might just go ahead and say it: you’re delusional or a narcissist or probably both. No one has ever been able to build a fortune without the emotional and financial support of others. Show some generosity, help the unfortunate individuals. Don’t just stop at writing checks rather devote your time. Nothing should stop you from giving back.

Learn to give back
Learn to give back
  1. Know your clients

Commit yourself to understand your clients and their needs as deeply as you would if it were the most important thing in your life because, in a manner, it is. Question anything that isn’t geared up to deliver the best products or services to your clients. Chicanery won’t help you achieve it but forthrightness will.

 

Maintain cordial relationships with your customers
Maintain cordial relationships with your customers
  1. Laugh more often

Business is a no-nonsense work but don’t let it consume you. Everyone can use a good laugh. Lighten up. Stop taking yourself so seriously. Have the ability to have a good laugh every now and then. Apart from that, laughter is also said to have a range of health benefits like increasing immune cells and lowering stress hormones. Laughter is contagious and will help you make everyone around you feel happier. So you might as well just use that sense of humor every once in a while.

Lighten up
Lighten up
  1. Limit the use of buzzwords

The industry is addicted to buzzwords but there isn’t enough reason why you should be obsessed with them. Stop the madness and start speaking like a normal person. You will actually end up being a more impactful speaker if you stop using buzzwords and speak up like a normal person. Using jargons is fun and games until someone publicly pinpoints you.

Don't use buzzwords
Don’t use buzzwords
  1. Take a vacation (or two)

You’re probably wondering why taking a vacation should be a part of your new year’s resolutions; it’s because the key to achieving great heights lies here.

Recharge yourself by taking a month or two off by lounging on a serene beach with your loved ones. Upon your return, you will find yourself refreshed and working with twice the vigor. You will without a doubt be ready to take on the world.

Take a break
Take a break

Related: Work and Play, Places Entrepreneur’s Should Vacay

  1. Take up classes

Whether it’s participating in a free online course or attending a class at the college, never limit yourself. Widen your horizons by committing yourself to lifelong learning. Education is a virtue and continues to pay off long after the class is over. Challenge yourself by taking up classes or workshops in any field of interest be it marketing, accounting, public speaking, etc. You will be richer in understanding for every second invested because education helps you make finer choices as you work towards creating a simpler and more fulfilling life.

Go back to college
Go back to college
  1. Learn to be more Empathetic

Empathy is the ability to share someone else’s feelings, that is, the ability to feel that you understand and can relate to another person’s emotions and experiences. It is one of the most useful traits an entrepreneur can and should possess. Communicating compassionately with employees, clients, investors, and shareholders will help your business succeed. They learn to appreciate your care for them when you understand what is important to them.

Be more empathetic
Be more empathetic
  1. Learn to Hire smarter

Hiring the right people is of paramount importance as these individuals will bring out the best in you and your organization. They can either help your business grow or let it go down because they will be the organizations biggest brand advocates. Also, low turnover helps in keeping the costs low. The process of hiring is taxing but drawing and retaining the right kind of people that fit in your company culture will greatly increase your chances of success.

Hire Smarter
Hire Smarter
  1. Be updated

We completely agree that paying attention to what people are saying is arduous but the news keeps you updated and not only assists in starting conversations but also provides you with valuable insights into the market. Future predictions related to the markets becomes a piece of cake and enables you to make well-informed decisions. Remember, what goes around you, impacts you and your business so keep yourself updated.

Stay updated
Stay updated
  1. Attend events

You might be tempted to skip on an event related to your business but don’t. Apart from keeping you updated with the trends in the market, there is always going to be something new, something inspiring and something that will end up motivating you so attend that next business event. Business events also provide an excellent place to network and make some more valuable connections.

Step out more often
Step out more often
  1. Cut back on the time you spend in the office

I know you’re thinking I’m demented, after all, I should motivate you to work with all you have but let me tell you why you should spend less time in your office. Working more than sixty hours per week might work out fine for people like Elon Musk, but for creative people sitting in a cramped office doing a monotonous job tend to burn them out. It not only makes you lose sight of why you became an entrepreneur in the first place but also reduces the ability to work.

Step out of the office from time-to-time to let your mind wander and refresh yourself. Trust me, your organization won’t go down because you took a long weekend.

Reduce the amount of time you spend in your office
Reduce the amount of time you spend in your office
  1. Get Social

Make time for yourself, family and friends. Make plans and have a good time. Work on improving your relationships with people- in office and otherwise. Make time for the most important people in life and give them a chance to lift your spirits up.

Be more social
Be more social
  1. Indulge yourself in Recreational activities

Indulging yourself in recreational activities is a marvelous way to disengage with the society and focus on yourself. Rejuvenate your mind and body by doing things you love. Learn a new skill or simply unwind and relax while you watch the world go by.

Relax and unwind
Relax and unwind
  1. Stick to a Schedule

It’s another one of those green resolutions we forget to follow but sticking to a schedule assists you in achieving the set targets for that day, month or even that year. Constantly review and update your schedule because you will definitely try to tick off as much as you can that is mentioned in that schedule.

 

Follow your schedule
Follow your schedule
  1. Detach yourself

I’m not saying social media is bad for you but then again, I’m not saying it’s good for you either. While social media still remains to one of the best ways to engage and interact with customers, connect with influencers, spread brand awareness and network, unnecessary updated on people no longer associated with you will slowly begin to vex you.

My advice is to maintain a balance between the two. Optimize your LinkedIn account rather than being active on Facebook.

Detach yourself
Detach yourself
  1. Exercise

We see folks around us committing to better fitness in the New Year but the commitment frizzles out as we progress through the year. Exercising helps in keeping the mind sharp and relieves stress and therefore, you should never miss a chance to work out.

Exercise everyday
Exercise everyday
  1. Medical checkups are necessary

If you want to continue growing your business, then be committed to being in your best shape both mentally and physically. Preventive medicine and care are the keys to having good health. I don’t think I need to emphasize on how essential regular medical checkups are for your body. Schedule the visits to your doctor biannually (if not quarterly) to ensure that you are healthy as a horse.

Don't ignore the medical check-ups
Don’t ignore the medical check-ups 
  1. Eat foods that nourish your brain and body

You have to the energy of a superstar to be a star entrepreneur. Consume healthy foods and don’t pride yourself if you drink coffee all day long or eating junk all food shouldn’t be a point of pride. Start your day with a nutritious breakfast. Go ahead and do the research!

Good food, good life
Good food, good life
  1. Learn to eliminate negativity

Try to eliminate negative thoughts or information as much as you can. Learn to filter your thoughts and the kind of information that goes in your head because you don’t want to collect garbage. Get rid of thoughts that drag you down or lower your productivity and one of the best methods to achieve is through meditation. Don’t deprive yourself of positivity.

Eliminate negativity
Eliminate negativity
  1. Ignore your haters

Every individual has some people in their life who would love to see you fail, who hold us back or drag us down and do not have the best interests at heart. Unfortunately, at times these individuals are our closest friends or even our family members. It becomes vital to recognize them and bid them goodbye. Goodbyes are painful, yes, but nothing should stop you from being the best version of yourself- not even your loved ones. You don’t need people who don’t need you.

Ignore your haters
Ignore your haters
  1. Be a Finer Leader

Being an effective leader has to be one of the most difficult tasks as it means rallying the troops when the morale is low, inducing an environment that encourages the out-of-the-box thinking, never losing focus and keeping the efforts of everyone around you aligned to achieve the predetermined goals. Focus on how you can be a better leader as this will enhance the overall quality of work around you.

Strive to be a better leader
Strive to be a better leader
  1. Learn to improve work-life balance

Maintaining work-life should be no exception from the New Year’s Resolutions since every individual should make an attempt to enhance their own life.

Learn how to balance work and life
Learn how to balance work and life
  1. Remember who you are and why you became an entrepreneur

It doesn’t matter whether you are going through a rough patch or at the pinnacle of success, always remember who you are and why you became an entrepreneur in the first place. New Year is the perfect time to reminisce and to remind yourself what made you embark upon the entrepreneurial journey. Use this as your pivotal point to move forward.

Always remember who you are
Always remember who you are

 

Cheers to a Happy New Year!