The New Year is here, and many of us are indulging in retrospection and evaluating some of our life and business choices. While there’s never a wrong time to set goals, the New Year is the perfect opportunity to reset and renew our aspirations and intentions.
If you’re considering priorities for the year and need a fresh dose of inspiration, keep these resolutions in mind.
1. Discover and revisit your ‘why’
Discovering your why is merely an iteration of identifying your purpose. As entrepreneur Simon Sinek has said, “Your why is the one constant that will guide you toward fulfillment in your work and life.” Discovering your why (i.e., purpose) for every venture, decision, and pivot will instill confidence and optimism at every turn. While your why will often include your ambitions, the most effective and inspiring why produces the depth to look inward and the breadth to include others.
“The most effective and inspiring why produces the depth to look inward and the breadth to include others.”Erica Nicole, Founder and CEO of YFS Magazine
2. Update your mission statement
Every business should also have a mission statement. A mission statement clarifies the “what,” the “who,” and the “why” of your company. It’s the roadmap for your vision statement (i.e., where you are going?), the anchor point of any and all strategic plans. It’s a roadmap that encourages me to reflect on a simple (and sometimes difficult) question, “What do we do, who do we do it for and why?”
I say “difficult” because, throughout the weeks and months, it’s easy to get sidetracked and veer off course. Often, we end up doing too many things and overlooking the next, right thing. A clear mission statement provides a guardrail, directional signs, and assurance on your entrepreneurial journey. It says, “We’re on the right road, for a definite reason, and this is why.”
3. Improve your mind
Your mind is the strategic command center for every decision you make and plan you carry out. And your mind is like any other muscle – it needs to be applied to reach peak performance. Mental health and wellness is a non-negotiable.
As author Robin Sharma stated, “Everything is created twice, first in the mind and then in reality.” This is why it’s incredibly important to keep your mind sharp and find ways to improve focus and cognitive capacity.
Today we can use anything from prayer to apps, books, supplements, and ancient meditation techniques to heighten concentration and hone our mental abilities. Discover specific practices that work best for you, and you’ll master your emotions, learn faster, and solve problems with more ease. Mental dexterity is invaluable in the life of an entrepreneur, but it takes committed and intentional work.
4. Catch more flights
I don’t know about you, but for me, travel is a force multiplier in my life. Not only does it offer new experiences, but it also expands my frame of reference and regularly brings clarity.
I’m convinced travel makes us better entrepreneurs. It encourages us to break from routine, explore new places, and triggers creative thoughts. If you’ve been searching for a fresh point of view, it’s time to go places you’ve never been to. Step outside of your comfort zone. And if you’re already a frequent traveler, add an unlikely and intriguing destination to your list.
5. Accelerate value creation
As entrepreneurs, we are in the business of value creation — regardless of industry, this is fundamental. Revisit the ways you’ve created value for your teams, partners, and customers last year. Consider what works and define success metrics for the year ahead.
Frankly, “there is no substitute for real value creation,” and it “builds stronger companies, economies, and societies.” As McKinsey partner Tim Koller suggests, leaders “make smarter and more courageous strategic decisions if they arm themselves with the tools to understand which actions will create and destroy value within their organizations.”
Accelerate value creation this year by brainstorming what matters most to key stakeholders, define a list of value activities and metrics to track through the year. Revisit and optimize your value creation plans through the year, and you’ll find that giving is a strategic plan that pays dividends.
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