Welcome to the new year everyone! No
matter how challenging 2016 may have
been (and I know it was a rough one for
many of us), the beauty of the rollover
into a new year is that with it comes a
fresh sense of promise and possibility.
As such, I’m sure many of you reading
this have, like so many others, decided to
partake in the time-honored tradition of
setting New Year’s resolutions. That
traditional practice by which you create
for yourself a list of goals to achieve or
good habits to establish in the next 365
days.
At some point during the holiday
festivities, parties, and countless
gatherings with friends and family,
you’ve probably found a moment to stop
and psonder what you want this new trip
around the sun to look like.
Especially as an entrepreneur, you likely
have many lofty goals on that list of
yours. Probably a couple about being more
productive, maybe even one or two about
how you’re going to expand or improve
your business. Some of you might even
have a resolution that this is going to be
the year you take the plunge and start
your own business.
But before you head back to that office
and start working, let’s make sure you
have the right goals in the first place.
Because if you really want to make a
difference this year, your New Year’s
resolutions should be all about how you can
start crushing your goals today rather
than what you want the end of your year
to look like. A great New Year’s resolution
should be about equipping you with the
habits and mindset you need to succeed
for life, and not just for the next 365
days.
SETTING GREAT RESOLUTIONS
The biggest trouble with New Year’s
resolutions is the fact that most of them
fail before January even ends. One
study even claims that only a measly 8%
of all resolutions will be fulfilled or
considered successful.
You know what it’s like. You start off the
year feeling great, the first week is a
success and so is the second week. But by
the third week, you’re starting to slip and
before you know it you’ve given up
entirely. And you find yourself hatefully
staring at that list taped your fridge and
wondering if there’s something wrong with
you.
Don’t worry, there’s nothing wrong with
you. It’s been scientifically proven that
the human brain is just terrible at making
plans and following through with them.
Often it has to do with the fact that we’re
not setting the right goals in the first
place.
So before you even set out to make your
list of resolutions, commit to setting clear
and achievable goals for yourself. Take a
step back and be honest with yourself
about what you can realistically achieve.
It’s all well and good to shoot for the
moon, but not if it means halfway through
your journey you start hating yourself for
not getting as far as you thought you
would.
We wrote at length about how to set
effective goals in last year’s New Year’s
post, which you can check out here .
With that in mind, here are four New
Year’s resolutions that every
entrepreneur needs to make for a
successful 2017 !
RESOLUTION 1: I WILL ASK MORE QUESTIONS
When I was a kid I always found myself in
awe of adults, because they always just
seemed to know everything . I remember
pestering my parents and teachers all the
time with questions upon questions
because they always seemed to have the
right answers all the time.
As I grew older, I began to stop asking
questions. Somewhere along the way, I
started believing that asking questions
was somehow a sign of failure. That asking
questions would make me inconvenience
my friends and family and make me
appear weak or needy. It just felt like I
always needed to have the right answer
too.
After all, great entrepreneurs like Steve
Jobs , Elon Musk, and Richard
Branson never had to ask any questions
did they?
Nothing could be further from the truth.
As an entrepreneur, you’re often taught
that you need to be self-reliant, to be
decisive, and at some point you might
have convinced yourself that to be an
effective leader you need to be one with
all the answers. All that pressure can
often stop us from doing something that
all children instinctively understand— if
you don’t know something, just ask.
Whether it’s asking for advice, asking for
feedback, or just plain asking for help,
learning to ask questions is one of the
most valuable skills any entrepreneur can
master.
Learning to become comfortable asking
questions means that you now have a tool
to drastically improve your knowledge,
resources, and even your network. Look,
contrary to what your ego might tell you,
it’s practically impossible to do everything
by yourself. If you want to survive as an
entrepreneur, you need to know who you
can turn to when you need it.
Not asking questions doesn’t make you
look smart. In fact, it just makes you
look arrogant. If you’ve ever been on a
road trip with someone who refuses to ask
for directions, you know exactly what I
mean.
On my family road trips, our favorite
games to play are “heated argument”
and “the GPS is lying.”
Great entrepreneurs and leaders
instinctively know that it’s not their job to
have all the answers, but instead to have
the right questions and be unafraid to
ask them. This year, make it your mission
to learn how to start asking questions
again. Don’t be afraid to ask someone to
explain something more clearly, or to ask
for help and advice when you need it.
At the end of this year’s meetings, or
business interactions, or even casual
conversations, ask yourself briefly before
wrapping up, what did I not fully grasp
that I should have asked about but
didn’t? What information am I missing
that I’ll wish I had later?
While great entrepreneurs and leaders
might not have all the answers, they do,
however, always know the right questions .
It’s a skill to master over time.
RESOLUTION 2: I WILL WORK ON MY BUSINESS, NOT JUST IN IT
It doesn’t matter if you’ve just started a
business, are looking to start one, or are
a tried-and-true veteran. In order to
truly make entrepreneurial strides this
year, you need to learn how to work
on your business.
If, like many early stage entrepreneurs,
you’re the only person working on your
business, you can start falling into the
trap of thinking that everything relies on
you. And to a certain degree, that’s true,
especially when you’re just starting out.
But in order to build a truly successful
business, you’re going to need to learn
how to create a company that can exist
without you entirely.
After all, the reason most of us become
entrepreneurs in the first place is because
we want to escape the grind and find the
freedom in working for ourselves. So why
would you trade one grind for another,
only this time you have an infinitely
harsher and less forgiving boss?
If you really want to dramatically scale
up your business, you need to avoid the
trap of thinking you have to do it alone.
The most common mistake entrepreneurs
make when trying to take their businesses
to the next level is thinking that they
simply have to work harder, or work
longer hours.
But the problem with that is, as Michael
Gerber points out in his seminal book The
E Myth, it’s not scalable.
You have natural limitations on your time
and energy. If your business relies
entirely on the amount of work you can
put in then it will inevitably hit a wall that
you will not be able to get past, regardless
of how hard you work.
It might be true that no one knows your
business better than you, or even that no
one is as efficient as you. But the time
you spend doing jobs that other people
could be doing is time not spent running
and improving your business.
Seriously spend some time creating a
Business Model Canvas of what you want
your business to look like at the end of the
year. Force yourself to look at your
business objectively and figure out what
you needs to happen in order for you to
achieve this goal.
Once you’ve filled it out, take a step back
and highlight the key things that only you
can do . Be realistic with yourself. If
something can be automated then you
should automate it. If you need to hire a
virtual assistant , then do so. If there’s
any tech or resources out there you can
use, seriously consider it.
Let go of the reins a little this year and
thank me later when Christmas rolls
around.
RESOLUTION 3: I WILL MAKE NETWORKING A TOP PRIORITY
Networking is by far one of the most
valuable tools you can have in your
arsenal. Knowing the right person can
open up huge opportunities to grow your
entrepreneurial career, get in touch with
influencers, and find the mentors you
need. It has been proven time and time
again that who you surround and
associate yourself with drastically
influences your likelihood of success in
any given field.
Entrepreneurial guru Tim Ferriss says the
catalyst of his current success was his
networking efforts one fateful weekend
at the SXSW conference in 2007.
Everyone seems to know how important
networking is, but a shockingly low number
of entrepreneurs choose to get out there
and actually do it. Or, at the very least,
many of us are going about it in the wrong
way.
Now I’m not asking you to suddenly turn
into a power networker this year, or to
immediately plug yourself into multiple
mastermind groups. Nope, all I’m asking
you to do is to make it a New Year’s
resolution that you’ll take networking
much more seriously .
One of the biggest reasons you should
start investing time into developing your
network now is so you don’t have to do it
later when you really need the support. A
mistake that many young entrepreneurs
make is that they only start building their
network just before they need something.
In that scenario, unless you happen to be
gifted with the type of charm that could
make George Clooney blush, chances are
people are going to notice that you’re only
talking to them because you want
something. Which is never a good first
impression to make.
If you’re familiar with people giving you
the ‘Simon Cowell’ then you’re doing
networking wrong.
Generally speaking, people don’t like
feeling used. By taking the time to
network now, starting in January, you
develop relationships when you have
nothing to pitch or sell. Then you’re far
more likely to develop the key
relationships and support systems you
need for when you actually do encounter
a problem.
The best thing you can do right now is to
get out there and meet people in whatever
way suits you best.
If you’re a bit more extroverted, then
check out local entrepreneurship and
networking events in your area through
sites like Meetup or Eventbrite .
If you happen to be more
introverted, then just jump on any social
network and start joining online
entrepreneurship communities . If you
want a bit more of that Foundr flavor,
then check out Foundr Club , our own
private entrepreneurship community,
when you get a chance.
Regardless of your own personal approach
to social situations , there are many ways
you can step up your networking game this
year.
RESOLUTION 4: I WILL MAKE MORE TIME FOR MYSELF
Last, and certainly not least, this will be
the year you’re going to start making
more time for yourself.
When your business starts and stops with
you, it can feel like you’re under a
constant amount of pressure to always be
working. As an entrepreneur, you
probably have the kind of mentality where
taking a break from work actually feels
uncomfortable, because there’s always
something that needs to be done.
Chances are, you’re quite familiar with
the routine of pulling over 60 hours a
week, and have seen your fair share of
all-nighters.
Most people will experience serious
burnout at least once in their lives. Those
with an entrepreneurial attitude are
likely to experience it more than once. If
you’re reading this article, I’m sure
you’re familiar with that sickening feeling
of exhaustion and stress.
Once you’ve hit burnout, your body just
stops, and once you stop, your whole
business shudders to a halt. Then that
feeling of being overwhelmed turns into
thoughts of self-doubt, harsh criticism,
and it can even manifest itself into panic
attacks.
What I would challenge you to do this year
is to make sure you don’t experience
burnout. Not even a little. In order for
that to happen, you need to learn how to
be okay with making time for yourself.
And no, personal time does not mean any
time you’re not at work. Personal time
isn’t just sitting on the couch and
browsing Netflix so you can pass the time,
or feeling stressed because of
commitments with friends and family.
When I say make time for yourself, I
mean find at least a couple hours a week
to do something you truly enjoy .
Something where there’s no pressure, no
stress, but something that you truly have
a passion for and invigorates you.
Basically I want you to place the same
amount of importance on your hobbies as
you do with your business.
What you choose to do might be very
different than someone else. I, for one,
strongly recommend that you pick up a
creative hobby if possible. That can be
anything from learning about photography
to picking up a musical instrument.
After all, it’s been scientifically
proven that those who engage in creative
hobbies outside of work are not only
happier, but perform 15-30% better at
work when compared to those who don’t
have one.
Now this might feel uncomfortable at
first, and some of you might even feel a
little guilty. But think of it this way—if
the success of your business relies on
whether or not you can work, then
investing time to make sure your physical
and mental well-being is taken care of is,
in fact, making an investment into your
business!
CONCLUSION
As you embark on these resolutions, I
would offer you one parting piece of
advice. Don’t be too hard on yourselves! I
think one of the big problems with New
Year’s resolutions is that they begin with
blaring optimism, and crumble into
despair at the first sign of failure.
I encourage you to find that middle
ground in which you’re not putting the
weight of the world on your shoulders, but
you’re also not convinced all is lost. If you
slip up, make it a learning experience and
try again. Resolutions, self-improvement,
success, these things happen through
practice, persistence, and patience. Keep
your head up!
I know you’re going to crush it this year,
Foundr family, and that 2017 holds
tremendous success for us. But what
resolutions did we forget? What are you
determined to do this year?
source: foundr
