9 Business Resolutions for Every Entrepreneur in 2020

Business Resolutions for 2020 that every business person needs to make

2020 is here, and business owners everywhere are already in resolution keeping mode, drawing on the failures met last year to decide on what they want to achieve this year.

Unlike everyday resolutions about weight loss and bolder living, business resolutions are more serious, and have to be achieved if a business is to grow and expand.

For 2020, these are some futuristic resolution ideas you can consider for your business.

• Boost customer data security

It’s overly ambitious to think hackers can be barred against completely, but with the damage caused by the Equifax breach and other recent data hacking scandals, businesses have to prioritize customer data security now more than ever before. Business owners will be integrating better security practices in their businesses come 2020, and you can’t be left behind.

• Improve your cash flow strategy.

If you’re still postponing a review of your cash flow management strategy for later, you’re doing it all wrong. Keeping regular tabs on your accounts helps you spot trouble before it arrives, and must be one of your resolutions for 2020.

• Boost employee productivity.

You know this better than anyone: that your business survives on the productivity of your employees/co-workers. The coming year offers the prime opportunity to set in place tools and resources to boost your employees’ productivity all year round.

• Better customer service.

Think of this in terms of faster product delivery, faster customer responses, and personalized customer service. Improving your service delivery in 2020 is no longer an option; it’s a must if you want your business to stay afloat and keep its customers.

• Get informed.

Information is now everywhere; technology has made access easy and seamless. As a business owner, it’s a crime to be in the dark regarding current events or trending technologies. This year, you can start a weekly book reading schedule, listen to top business podcasts and get in on informative TV shows – anything to improve your knowledge and keep you updated.

• Expand your business’s social media and online presence.

The 2019 retail apocalypse is one small sign of the growing power of the web, and the consequences of not waking up to its advantage early enough. Build your website and social media accounts if you haven’t already, and grow engagement by offering personalized service through each platform.

• Start smart networking.

If you haven’t done this in 2019 or before that, 2020 is the year to start. Business networking is no longer just about conferences and bar sessions; it’s a whole lot more today. Learn the ropes next year and develop a business network you can rely on, count on and get business from.

• Get more clients/customers.

In other words, grow your market share. 2020 should be the year when you incorporate smartly targeted marketing campaigns, expert customer service and other performance strategies in your services to reach out to more customers and expand your customer/client list.

• Personal life development.

As a business owner, your life is undoubtedly your business. But your health and wellbeing deserves attention too, and 2020 is the year to make that happen. Managing your work-life balance better is the key point here.

2019 was marked by growing employment figures, higher performance figures for small business, the bitcoin mystery and scars such as the retail apocalypse. 2020 promises to have even more in store for the Canadian small business owner.