As the calendar year draws to a close, entrepreneurs find themselves at a crucial crossroads - a time to reflect, strategize and set the stage for success in the upcoming year. Here are three year-end habits that can pave the way for your success, according to our in-house expert Kate Harmon, executive director at the University of Cincinnati's Center for Entrepreneurship.
Before diving headfirst into the start of the new year, take time to reflect on what you've accomplished over the past 12 months. Start by looking at your key performance indicators (KPIs) and metrics you're using to track your goals. Are these still aligned with your current priorities, or is it time to adjust? Staying agile is key. What worked this year, and what didn't? Use this to set realistic benchmarks for the year ahead.
As the new year approaches, embrace the spirit of resolutions for your organization. Rally your team around to review your mission and realign your focus for the upcoming future. Share your view and aspirations for the year ahead, and listen to the insights of your employees. A collective vision is a powerful driving force. It's also a perfect time to look at your team culture. Take this opportunity to review and reset workplace policies to foster a collaborative environment. A thriving culture is the backbone of a successful company, so make it a top priority to amplify and reinforce the values and essence to what makes your team unique.
Success for entrepreneurs often comes down to the ability to navigate the competitive landscape. Allocate time to review the ins and outs of your industry and top competitors. What shifts have occurred over the past year? What trends are headed your way? A comprehensive review of the competitive landscape allows you to ensure you're not just keeping up, but staying ahead.
