Wrapping up a Challenging Year

Onward to 2021.

As small business owners and entrepreneurs, we are used to challenges, and 2020 was a year filled with them. As it draws to a close, it is worthwhile to review the year in relation to our goals and aspirations as business owners. In the spirit of looking forward, here are some suggestions for ways to reflect on 2020 and use that to help illuminate a path forward for 2021.

  1. Review your Business’ Performance

The outbreak of COVID-19 created immensely complicated circumstances, and for many businesses, these obstacles were not possible to overcome. In order to progress, it is necessary to check in on your business to uncover ways it can grow or adapt. Go over your financial reports to see directly how your business performed. Identify the factors that most impacted your business. Check in with your clients to see how they are doing and what their needs are.

  1. Make Goals for 2021

With how difficult 2020 was, it’s easy to say we just want 2021 to be slightly better. However, it will be more helpful to consider exactly what we want to achieve. To do this effectively, use actionable goals instead of broad ones. The S.M.A.R.T. framework is a method to create such goals, and it is demonstrated below.

Make a specific goal: Increase client numbers

Make sure you can measure it: Use revenue and client count

Check that it’s achievable: Is this something I can realistically do?

Ask yourself if it’s reasonable: Do I have what I need to succeed?

Set a timeframe: 3 clients for the first quarter

Once you have this, create your plan of attack knowing that you can obtain your goal.

  1. Take Stock of What you Have

Gratitude shifts our perspective to one of constructive growth and invites us to be more conscious of the resources and possibilities available to us. We can therefore focus on the aspects of our lives with positive impact, whether that be loyal clients and customers or supportive family and friends. Take time to sit down and consider the best parts of your life and the impact it has had on you. Maybe even consider reaching out and thanking those people or paying something forward to others, be it kindness or anything else.