New Year’s Resolutions Every Entrepreneur Should Make

Project Spaces

The new year is finally here, and if you haven’t already made your resolutions – what the heck are you waiting for? New Year’s resolutions have been used as a means for people to better themselves for thousands of years and for entrepreneurs, in particular, these promises are essential to staying accountable and actually accomplishing career goals. Read on to find out more about the resolutions you should be making as an entrepreneur stepping into 2020!

1. Know Where Your Business Stands

A good place to start when you’re coming up with your New Year’s resolutions is taking a long hard look at your finances. Call up your accountant and pay off any debts you have, look for ways you can lower your expenses, and, most importantly, get a sense of the progress your business has made and the targets you have hit. Knowing where your business currently stands is the only way to come up with resolutions that are realistic and achievable.

2. Make an Active Effort to Engage Online

Social media became a prevalent part of people’s everyday lives over the past decade and it shows no signs of slowing down in 2020. Platforms like Facebook, Twitter, Instagram, and LinkedIn have never been more important for business owners and you should be using these tools to connect with your customers. If you’ve been slacking on your socials, it’s time to jump back on them and start spreading brand awareness!

3. Adopt a Future-Focused Mindset

Whether you experienced a bad hiring (and firing), had things go south with clients, or burnt yourself out by taking on too much, it’s important to accept the fact that failure is inevitable as an entrepreneur, but it’s not something that should be dwelled upon. Adopting a future-focused mindset and committing to looking forward instead of back is one of the best ways to set yourself up for success.

4. Prioritize Your Health

Health-related New Year’s resolutions are always the most popular ones - and for good reason. When you’re not feeling your best it quickly becomes evident to those around you and there’s simply no way to run a business when you don’t have any energy. Prioritizing your physical, mental, and emotional health will make you happier, boost your productivity, and, in turn, benefit your business.

5. Be Open and Receptive to Feedback

Feedback from others is an invaluable resources that entrepreneurs all too often take for granted. This year, open yourself up to feedback from everyone in your life, no matter how confident you may be in your ideas. You never know when someone might point out a red flag that you missed altogether!

By putting these five New Year’s resolutions into practice, you and your business will be off to a great start this decade. And if you’re looking for a new coworking space in Toronto that’ll help you accomplish all your goals, look no further than Project Spaces.

Our founder-friendly coworking offices are the perfect place to give your hustle a home and get inspired by other like-minded entrepreneurs. Start your new year off the right way and book a tour at Project Spaces today!

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