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5 New Year’s Resolutions for Entrepreneurs

20 12 2006

by Tim Berry | Via AllBusiness.com

Happy New Year…

1. Take better care of yourself and your loved ones. Remind yourself that you should take the time to set your own definition of success, which might be wealth of billions and fame and buildings named after you, but might also be coaching the kids’ soccer team and being home for dinner.

2. Adopt a planning process — the whole process, not just the plan itself, but all the follow-through — to improve management.

3. Take better care of your cash. Plan cash flow better, understand cash flow, manage the factors that influence cash flow.

4. Take a fresh look at the business and its market. Take a step away from the day-to-day routine and look at how you are meeting the fundamental needs of your present customers and how you might better meet their needs and those of other potential customers.

5. Take better care of your people, making sure that you appreciate how hard it is to lose one person and train another, making sure that people are fairly compensated, motivated, rewarded for specific successes, and, perhaps most important, that they fully understand expectations and performance compared to expectations.

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One response to “5 New Year’s Resolutions for Entrepreneurs”

20 12 2006
Josh Bickford (21:12:44) :

I like Earl Nightingale’s definition of success.

The progressive realization of a worthy ideal.

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