It's been said that 85% of New Year's resolutions are broken by the end of January. Making (and keeping) resolutions can be helpful to a business owner, especially during these difficult times.
Here are my five resolutions for 2009 (which I plan to keep):
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Review the business plan. My original projections for 2009 will have to be changed to be realistic in light of the current economic climate.
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Build a war chest of cash. Concerns about the need to borrow money can be avoided (or minimized) by amassing resources for business requirements so borrowing won't be the only recourse.
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Maintain relationships and develop new ones. Clients and customers are more valuable now than ever, so I plan to take the time to reinforce these relationships. I also plan to spend time creating new ones.
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Challenge myself. These times call not only for hard work and patience, but also for creativity. I plan to stretch myself in finding solutions to ongoing challenges.
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Stay optimistic. With doom and gloom being expressed daily in the media and many businesses facing real challenges (and, unfortunately, a number succumbing to financial woes and going under), it's not easy to remain hopeful--but that is what I plan to do.
