Operating and managing a business can sometimes feel like a battle against the tide. The lull before the start of a new year offers a welcome respite and is often the ideal time to review and reinvent your strategies. Consider making these business resolutions as you head into 2020.
Invest in Training Employees. Sure, you have hired your team based on their skills but cross-training them is a powerful business tactic. Employees with diverse skillsets that go beyond the rigid requirements of their primary roles are reliable backstops. Their broad capabilities are especially crucial during high-intensity periods and staff absences.
Key Takeaway: An employee trained beyond the usual scope of their work is also a prime candidate for leadership roles. They gain a greater understanding of the varied roles within the organization, which is usually accompanied by better rapport with their colleagues and increased confidence.
Improve Recruitment and Retention. Investment in training garners rewards beyond your existing workforce. A company with a reputation for investing in its employees will stand out within a crowded and competitive recruitment arena. Talented individuals may even consider a lower pay package if they see that your company values not just their current abilities but their potential as well.
Key Takeaway: During the recruitment process, commit to finding people who are open and receptive to taking on broader roles. They will be the ones who work actively towards self-improvement and, consequently, strengthen your company from the core.
Making Resolutions Work
Listing a set of resolutions, whether personal or entrepreneurial, is the easy part. The challenge is following through on them. Here are some strategies that greatly improve the chances of commitment and success.
- Small steps – Aiming for the stars is great but formulate a step-by-step plan that gives you the chance to aim for bite-sized checkpoints along the way. Not only does this approach give you a practical set of goals for the moment, it also allows you to build on them throughout the year and beyond.
- Deadlines – Small steps can only work if you align them with chronological limits. This can be an exercise in delicate balance – too liberal and progress will be undermined; too tight and you risk burnout and/or disappointing failures.
- Consistent reinforcement – Deadlines are easier to manage if you are motivated. Monitor your progress as you advance and share your goals with associates and friends who will encourage you along the way. This creates a positive environment that bolsters the likelihood of sticking to your goals.
- Reward yourself – Reward is perhaps the best reinforcement. Celebrate milestones along the way, share small successes with your support group and consciously bask in the satisfaction that you are moving inevitably towards your dreams.
By following the above suggestions, 2020 can be a productive and lucrative year for your business. Please contact me today if you would like to discuss your business resolutions for the upcoming year in further detail.