7 New Year Resolutions for the Smart Entrepreneurs

By Justine Gado | Dec 06, 2019

entrepreneursoffshore staffing in the Philippinesoutsourcing Philippines

Before every year ends, smart entrepreneurs ensure that setting the goals for next year is already planned out. Without a detailed strategy laid out for the next year, it would be like travelling without a specific destination.

With 2020 just around the corner, smart entrepreneurs are starting to plot their business strategy for next year. Big plans like those should also be discussed with other think tanks in the company to get more insights and ideas for a more accurate action plan.

Moreover, fast-paced businesses like the offshoring industry in the Philippines and in other countries are taking their time picking the right resolutions. As important it is in choosing the resolutions, sticking with them is more crucial.

If you want to get an idea on how your resolutions as smart entrepreneurs should be, then check out our infographic below.

smart entrepreneurs

Manage cash effectively

For smart entrepreneurs, one of the major concerns that they usually ask about is how to effectively manage their business income.

For the next year, irregularities in cash flow should be addressed immediately.  Also, learn to consider alternatives to be able to cut back on the budget.

Improve your digital presence

Digital presence is highly important for businesses. Regular updates on your website, most especially on social media can create a huge effect on your digital presence.

Talk to your digital marketing team to come up with ways on how to ramp up your online visibility.

Pricing

Get a financial expert’s help with your pricing concerns. And if you think that your products and/or services are worth more than what you are getting paid for, then try to revamp your rates. But before doing so, you must ask an expert to help you strategise and implement the new rates.

Increase manpower

Believe it or not, you can’t actually wear all the hats in your business, especially if it’s slowing you down. Remember that there’s always a space to delegate it to others. So, when you are having a hard time juggling every part of your business, then maybe it is an indication that you should consider offshoring. Although it sounds scary at first, there is so much more to it than meets the eye. The only way is to address your offshoring fears and learn how to overcome them.

Better communication

Your success as a smart entrepreneur lies in the hands of your people. More than keeping better communication with them, make sure to also relay the exact message to your target audience.

Here are 4 types of communication to consider improving.

Challenge yourself

Set goals that challenge you mentally and not one that would challenge your business. Do not set goals just for the sake of goal-setting or one that you can complete easily for the sense of accomplishment. Make sure that the challenge for yourself will have a long-term effect on your business.

Give back

Do not ever forget to give back to the community especially when your business is doing well. Aside from the significant promotion that your business can get, the willingness to give back will go a long way.

Conclusion

The New Year prompts for a fresh start. And if you have made mistakes in the past year that makes you feel a bit regretful, the next year will bring you more time to correct all of those.

Let 2020 bring growth and new beginnings to you and your business. As for us here in DBOS, we will be opening another office in Eastwood to start the year right! And if you’re interested in growing your business too, let us help you reduce your wage costs up to 70% and get a free consultation with our very own CEO/Founder!

 

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