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Updated: March 27th, 2020
New Year’s resolutions don’t always have to be about losing weight or spending more time with loved ones. If you’re a business owner, some of the most impactful resolutions could be the ones you make for your business.
Whether you’ve been in business for two years or 20, here are three smart resolutions you should consider making for your business in 2019.
While many entrepreneurs say it’s less stressful running their business than working for someone else, it’s not easy having to wear so many hats. Of course, it’s normal to have some hectic weeks, but if your stress level is always at a nine or 10, one of the best resolutions you can make is to find a bit of balance.
In addition to stress being detrimental to your physical health, it could also take a toll on your company. As a leader, your employees are always looking to you for direction and watching the signals you give. If you’re always running around frazzled, they may end up doing the same — leading to rushed decisions, sloppy mistakes, or burn out.
To help manage your stress in 2019, try some of the following tactics:
The phrase “a penny saved is a penny earned” is especially true if you’re a business owner — your business is likely what helps you take care of your family, so you should always be looking for smart ways to save, spend, and borrow money. Here are a few suggestions that may help you do so:
Learning on the job is invaluable, but it does you no good to isolate yourself only in things that pertain to your business. You may feel perpetually strapped for time, but think of this time as an investment in your business.
If meeting weekly with a mentor or going to a week-long conference is too big of a commitment for you right now, don’t fret — there are other ways you can continue to learn. Why not listen to a podcast on your commute to and from the office? Or watch a quick TED talk while scarfing down your lunch? Or visit your favorite resource center while waiting for your kid to get out of school? You never know — just five minutes could improve the way you run your business forever.
Paige Smith is a Content Marketing Writer and Senior Contributing Writer at Funding Circle. She has a bachelor's degree in English Literature from Cal Poly San Luis Obispo, and specializes in writing about the intersection of business, finance, and tech. Paige has written for a number of B2B industry leaders, including fintech companies, small business lenders, and business credit resource sites.