Do you set New Year’s Resolutions for your business? I do. I find it’s a terrific way to start the first quarter with focus. Here are some suggestions for your New Year’s Business Resolutions. Resolve this year to ROCK your business…

1) Boost the Value of Your Business!

A company’s value is 90% about perception, and 10% about financial reality. What is your company worth? Why? What should it be valued at? Make this the year to massively increase the value of your business, which will result in more choices, more financial freedom, and 5 star staff.

 
• Find 3 new easy revenue streams: get affiliates, become an affiliate, post content on Zipidee (see www.zipidee.com)
• Increase your credibility and influence in 5 ways: post articles, post comments on the top blogs in your field, do a regular blog/vlog/podcast, increase your # of monthly speaking gigs, attend 2 key conferences in your field
• Secure 4 new advisors: find 4 advisors with varying skill sets who will help you recruit staff, be a terrific sounding board, help you avoid making business mistakes, and increase the credibility of your company.
• Launch 4 new products this year: they don’t have to be huge, you can combine your top 12+ articles into a ebook, develop an extension/companion product to an existing product, repackage existing content/technology/services in a new form factor

2) Learn To Love Networking

Far too often, and for far too many people, networking is an uncomfortable social ritual. Most of us don’t do it well, and most of us don’t enjoy it, either. When done right, networking will not only be a career-enhancing experience, but will also build fulfilling personal connections. Learn the optimal techniques to increase your networking momentum.

 
• Start focusing on how much emotional equity you have–how deep your connections are–with others. Now improve your connections in 3 ways: do daily appreciation, practice palm-up networking [see networking essentials column], join a mastermind group
• Get out there and mingle: resolve to attend at least 1 networking event where you’ll meet new people each month. Mix it up, too, don’t always go to the same venue. Need a networking group? Consider joining Business Networking International, www.bni.com. Ideally attend 1 additional networking event each month virtually, by interacting with like-minded people on www.meetup.com.
• Help others find you: update your www.LinkedIn.com profile, consider a www.Facebook.com page (great option for when you have to turn down link requests), update your web site, join www.Plaxo.com.

3) Prime Your Power

As we go through life we learn about power—who has it and who doesn’t. Where does it start and stop? How do you exercise it with responsibility and compassion? How do you get it and grow it? Explore a new take on what power means and how to use it.

 
• Define what power really means to you. Is it positive? Who are your examples of power? Philanthropic/humanitarian leaders? Business/political leaders? The cute old lady next door? Your dog? Famous people? Unknown people? Really think about it.
• Where do you get a sense of power in your life? Make sure you can list at least 3 diverse areas (from exercise, from spirituality, from your career, from your family life, from your hobbies, etc). Now take it to 5 this year!
• Follow the Rich n’ Famous Formula: QTIP (quit taking it personally from Larry Ellison), declare supreme self-confidence (from Bill Gates), be gracious and really connect with people (from Barbara Walters)

4) Innovate and Execute!

Most businesses have done all they can to boost the bottom line. Now it’s time to pump up the top line, and the best way to do that is by accelerating innovation. It’s key to do so with specific processes and a structure for making the corporate culture more entrepreneurial, otherwise innovation falls on its face.

Next, you need to focus on execution, because dreams and visions are a dime a dozen if you don’t execute them. That’s where the rubber hits the road. Rapid innovation is key to competition in the global market place. And all too often, innovation and execution lag. Learn the keys to consistent innovation and optimal execution.

 
• Apply the 4 styles of innovation as you see fit: Existing Markets/Existing Products, Existing Markets/New Products, New Markets/Existing Products, New Markets/New Products
• Use 3 innovation acceleration techniques: time boxing, trial launches, ask campaigns (like an online focus group—ask your prospective customers what they want—they provide it!  See www.askdatabase.com)

5) Avoid the 7 Mistakes all Entrepreneurs Make

Being an entrepreneur is tough enough—don’t make it any harder! Resolve to skip the 7 top mistakes I constantly see entrepreneurs make—and with disastrous results. Learn how to not only avoid these mistakes, but how to follow the 7 key success strategies for entrepreneurs (which are the mistakes re-worded to be positive):

 
1. Study & model successful businesses
2. Communicate business via a powerful plan
3. Get sufficient funding: the right type of financing on the right terms
4. Hire the right blend of staff
5. Know how to handle competition
6. Enlist powerful & connected mentors
7. Build emotional equity to achieve escape velocity

What will you achieve this year? Will you double your revenue? Increase your customer base by 50%? Launch new products and services? I’d love to know.