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Business owners: How to be a boss in 2020
Thu 12 December 2019 - 8:08 amExpert
Every business owner, big and small, needs objectives to stay motivated, keep their business on a healthy progression and for all their employees to feel a part of the process.
A new year is a new opportunity to set goals, and with 2020 around the corner, there is no better time than now to ensure you enter the next decade with your business on the right track.
Don’t be left behind in 2019 – enter the new decade with the mentality of an organised and thriving business boss.
Don’t reach too high or stoop too low
Setting achievable goals seems straightforward, yet business owners often get it in wrong in formulating their business strategy.
Ensure that your goals are measurable by establishing clear objectives. Need better social coverage? Formulate clear objectives such as creating social media accounts and measuring success through volume and reach of social interactions.
Your business will become lost if you don’t have manageable and do-able goals.
Big and small dreams
Your goals as a business owner need to fit on a timeline both in the near and distant future. Have all your goals too far and you’ll lose motivation from feeling no sense of achievement. If your goals too close, you’ll twiddle your toes unsure what else to accomplish.
Keep a healthy mix of short term and long-term goals to establish an ongoing progression with your business. Relish in the short-term goals being achieved and use that motivation as fire to your burner to accomplish your long-term ones.
Remember that once a goal is achieved, you should replace it with another. Order your goals on a logical timeline through tools like a personalised calendar or notebook.
Say them out loud
An effective tactic to staying accountable and building on your 2020 business resolutions is to share your objectives with your employees and peers. Feedback is part of the workshopping process of goal setting and having a soundboard will open you up to perspective on your goals. It helps as well to have your employees aware of your goals to keep them motivated and feeling a part of the team.
You may also like to share your goals with your customer/client base. This transparency demonstrates to clients and customers your willingness to continue developing and growing. Don’t be afraid for to share your goals as it may just develop your stakeholder relationships.
Know the market
Investing in market research and competitor analysis will equip your business strategy with the edge it needs.
Study the customer base and understand their needs and desires. Setting up goals adjacent to market needs will ensure they are measurable and achievable. Understand what it is that your target wants and what is missing, and your goals will write themselves.
Tracking your competitors will lead you to goals that go above and beyond their movements.
Approaching your marketing with a holistic vision of the industry will also assist in highlighting your unique selling proposition, and make your business stand out from your competitions in the coming year.
Melissa Haywood is Head of Vistaprint in Australia.