New Year's Resolutions for Your Business in 2020

New Year's resolutions can be made by individuals or by businesses.
••• JGI/Jamie Gril / Blend Images / Getty Images

When you hear the phrase "New Year's Resolutions," you probably think about losing weight, quitting smoking, and vowing to enjoy life to the fullest. These are all very common personal New Year's resolutions, but resolutions are not confined to our personal lives. You can also create impactful resolutions for your small business. A resolution, after all, is a decision to do something different to bring about positive change.

So, if you are ready to make some powerful changes in your small business, here are seven possible resolutions you should set this year.

I Will Learn How to Manage My Cash Flow More Effectively

This is a great resolution for small business owners who have drastic ebbs and flows in their cash flow, have been unable to create enough capital to invest back into the business, or those who don't really understand the day-to-day finances of the business.

I Will Take Steps to Improve My Digital Presence

If it's been more than two years since your site has been updated, if you haven't done anything to make your web presence mobile-friendly, if you still haven't created an email marketing list, or if digital isn't a component if your marketing plan, it's time to add this resolution to your list.

I Will Finally Get Social in My Small Business

Have you been putting off social media, not even starting to explore which network is the best platform for your business? Have you talked about starting a business blog, but haven't had time to work on a content strategy yet? If so, this is the perfect resolution for your business.

I Will Get Focused and Become More Productive

This is a great resolution for those of us who often waste time on social media or find ourselves succumbing to other distractions that get us off-track, then end up wondering where the day went because we still have handful things left to complete.

I Will Charge What I'm Worth

Do you often feel underpaid and undervalued in your business? If so, then this resolution will help you market to the right audience, revamp your strategy, and raise your rates to accommodate the value you bring to the table.

I Will Grow My Team and Delegate More

If you have more work than you can handle and no time to focus on growing your business, it's time to stop wearing all of the hats in your business and start bringing in others to pick up the slack. This resolution that focuses on building your team and learning how to delegate effectively is right up your alley.

I Will Become a Better Communicator

Frequent issues with misunderstandings among your employees, lack of employee morale, and consistently wasting time repeating the same information over and over is a sign that you are communicating ineffectively. This resolution will help you focus on becoming a better communicator in your business.

So what's the next step? It's time to take your resolutions and create a plan for putting them into action. Make your resolutions stick by transforming them into goals, and make 2020 the year you finally bring all of your resolutions to fruition.