New Years’ Resolutions and Annual Business Plans…What’s Your Strategy for Business Growth in 2020?
How many of us made New Years’ Resolutions in the run-up to December 31st? If you, like me, made promises to yourself to do things like exercise more, eat more healthy food, lose weight, read more books, etc, then you should realise that we are not alone. Frequent studies show that a significant percentage of the population continues to see the end of the year as an opportunity for a ‘fresh start’; a moment in time to pause for reflection, and to introduce the changes that we know will help us achieve our longer-term goals (in my case to live a long & healthy life).
And yet, as we come to the end of the second week in January, how well are we all progressing with our New Years’ Resolutions?
The Problem with Vague Resolutions
Again, various studies have shown that over 80% of people fail to achieve their New Years’ Resolutions, and most lose their resolve by mid-February.
I believe that there are a few key reasons why many of us fail to achieve all our New Years’ Resolutions:
- Setting unrealistic goals (stretching beyond the achievable)
- Not tracking progress (not celebrating the small wins)
- Forgetting about them (making a list then putting it in a drawer)
- Making too many resolutions (trying to ‘boil the ocean’ in one year)
- The word ‘resolution’ itself isn’t very motivational
So how do we set ourselves, and our businesses, up for growth in 2020?
Refocusing on Your Resolutions
This is where I see the similarities between New Years’ Resolutions and Annual Business (or Channel, or Account) Plans, many of which are now being put into practice for 2020. They both prompt the same five questions:
- Developed with the very best intentions, how many of them are genuinely stretching, but still achievable?
- How often do you review progress against them?
- How often do you celebrate the small wins? (as well as reflecting on the learnings from the things that haven’t gone quite so well?).
- How many business, channel or account objectives are you trying to achieve this year – the three or four biggest opportunities, or a multitude of smaller unconnected items?
- How motivated are you to achieve them?
Here at Sellex, we’re very interested in supporting our clients to develop and execute the most appropriate Annual Plans to deliver improved commercial performance for their businesses.
We’d welcome the opportunity to sit down with you and review your 2020 plans whilst it’s still early enough in the new year to make a difference.
How are you getting on with your New Years’ Resolutions? Let us know on LinkedIn!