Most entrepreneurs think money is the most valuable asset for their business. After all, if you have money, you can do anything, right? But studies show that, in fact, time and energy is something that is highly valuable to any business, particularly for an entrepreneur. Time wasted is time lost and that can quickly translate into lost energy and enthusiasm. So how can entrepreneurs make the most out of their time, talent and energy to get their business on the path of success?
Here are some ways to effectively invest in your business in the next year.
#1 Clarify your mission and vision for the future
The best way to begin to identify your goals for next year is to start a clear vision and mission for your future. Writing down your goals makes them real and make it more likely that you will take action on them. Do this regularly and keep assessing how your goals match up against the mission and vision of your life and business. You don’t want your business to be in complete opposition to your life values and vice versa. Every goal need to tie into the bigger picture of where you want to be personally and professionally for it to really stick and become actionable.
#2 Attach numeric metrics to your success
A goal without a plan is just a dream. Don’t let your best ideas become simple figments of your imagination. Listen to your gut when reviewing your goals and be honest with yourself about what’s important and needs to be a priority. Attach achievable metrics to your goals. Remember that metrics don’t necessarily mean money. Metrics are numerical representation of a goal that is measurable. Too often we are vague about our goals which in turn makes us less likely to achieve them.
#3 Plan and schedule your goals and tasks
Goal setting should be on-going and not just a practice for January 1st. Break your goals up into smaller, actionable steps and put them on your calendar. Most importantly, honor these tasks and deadlines. As our own boss, it can be easier to keep promises to others while our own goals and dreams take a back seat. Make sure every goal you have has a date of completion. Without a date, you’ll likely keep pushing it to the bottom of your to-do list, never to get done. Even your wildest dream goals can come to fruition if you take the time to put the action steps down to achieve them.
#4 Acknowledge your shortcoming and get help
As much as we want to think of ourselves as a know it all, chances you are don’t know everything there is to know about everything in business. Too many people don’t acknowledge their shortcomings and in an effort to save some money do more harm than good for their business. Simply acknowledging these shortcomings and then letting them go can be powerful. When you recognize these shortcoming, it frees you up to start thinking of ways to overcome it and also get the help you need. The right kind of help at the right time is invaluable to a business and can help you achieve a lot more by making the most use of your best resource – you!
#5 Be committed to your success
Some people write their goals down and keep it right where they can see them day in and day out. Some people schedule them into their calendar and others write post-dated checks as a payout to their future self. No matter what you choose, when you write down the goals it will help you see the finish line even when things get tough. You will be able to make decisions based on how they impact your goals and lets you stay focused at all time. No matter what happens, staying committed to having a successful outcome is the best motivation you can give yourself.
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