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Three New Year’s resolutions for entrepreneurs

There’s a reason that people make resolutions at the start of a new year – it’s a time of refreshed optimism and positivity, perfect for new ideas.

It’s especially important for entrepreneurs to set goals for the 12 months ahead. See it as an opportunity to properly review the structures and strategies you have in place, and set yourself some realistic short-term objectives that can deliver long-term benefits.

Below are a few resolutions to start your own list with.

Define (or redefine) your company culture

As a leader, you have both the power and the responsibility to build a company culture that is conducive for success. The values, beliefs and priorities that underlie your organisation’s activities are directly linked to its performance – and just as a healthy culture can be beneficial, a bad culture can hold you and your employees back.

If you’ve not considered your company’s culture before, use this new year as a chance to build some foundations. Think about what you originally set out to achieve by starting the company and the manner in which you want to get there. Then ensure everyone around you is on the same page, all working towards a common goal.

If this is something you’ve worked on before, now’s the perfect time for a review; are your staff members fully on board? Is it helping you progress? If not, look for opportunities to improve. It may be that a change of structure or personnel is necessary; in which case, studying Leadership, Strategy and Human Resource Management as part of an MBA programme could be invaluable.

Formalise your business practices

Having formalised processes and procedures for your organisation will help to improve your team’s efficiency, saving you time and money. Especially when your business is on the high-growth track, it will be crucial to keep all the new employees ‘on the same page’ by having these processes and procedures in place.

The consistency that comes with formalised procedures will also reduce the risk of your staff making costly errors when delivering services and products. This in turn means clients and customers will receive a better service and are more likely to return – crucial when customer experience is expected to be well ahead of price and product as the biggest differentiator for businesses by 2020.

Master business leadership

The right MBA programme can give you the skills and knowledge needed to not only achieve the first two resolutions, but to lead your new company to the next level.

Studying in 2019 will certainly benefit your company in the long-term, and it needn’t be at the expense of your short-term success. Our fully Online MBA can be completed from anywhere in the world, with students learning through engaging synchronous sessions, real-world roleplay, immersive video content, peer-to-peer forum discussions and hands-on business simulations.

The programme comprises of 12 core business courses, including Entrepreneurship – the goal of which is to demystify entrepreneurship and to prove that many of the skills required to build a successful company can be learned and practised.

As Professor of Entrepreneurship at Vlerick Business School, Fredrik Hacklin, says, “In this course, we will take you through a journey of what we call the entrepreneurial process, starting from an idea and bringing it to life on the market by going through different stages such as the problem-solution stage and the period when you find your product-market fit.

“We will showcase a variety of examples of success stories, challenges and strategies, and ask real entrepreneurs to share some tips and tricks at their respective stages of building new ventures.”

Make 2019 your year

Put together, a little more definition, organisation and education could be what’s needed for you to make 2019 a huge success for your business – but don’t think you need to stop there. Add these to your own resolutions to create a list tailored to your business and goals.

If you think an Online MBA could give you the extra edge you need to take your business to the next level this year, find out more by  today.

Accreditations & rankings

  • EQUIS
  • Association of MBAs
  • The Association to Advance Collegiate Schools of Business (AACSB)
  • Financial Times