The definition of entrepreneur is, “a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.” Adding to this, entrepreneurs also sacrifice a lot — free time, family time, willing to have an early onset of gray hair and wrinkles, their own sanity, and so much more. Therefore, it is really helpful to do an end of year recap. Why? Well, for your own sanity! Plus, many of us (though we definitely understand this does not apply to all) have a slightly happier demeanor this time of year, which provides us with an opportunity to be a tad bit more positive! So, below is a list of our favorite end of year habits for entrepreneurs to make.
End of Year Habits for Entrepreneurs
Be Jolly… Say THANK YOU!
Your staff deserves a little credit and a big “thank you”! Even for those of your who are solo-preneurs, there are still people that you have to interact with such as clients, vendors, the mailman, etc., all of which deserve a “thank you” as well! Sure, you are the one that takes on the risk… but the other people are the ones that have to interact with you, both the best version and the worst version.
According to Forbes, a simple “thank you” is, “motivating and encouraging, and it creates job satisfaction, thus resulting in better performance and less turnover. It builds trust and promotes employee engagement. Nurturing a positive, gratitude-filled environment — through more than just a bump in salary or a bonus — in your business should be a priority”
Celebrate the Successes
Okay, sometimes, it is hard to look for the successes. Especially closing years like 2020, and 2021! However, it is important and can help change the mindset a little bit by injecting a little positivity into the company… or yourself.
So, make a list (actually hand-write this list) of all the successes from that year. Additionally, allow your team (for those of you who have teams) to chime in!
Pro Tip: You can allow them to do so anonymously if that helps! But be sure to share the entire list, once complete, when it is finished.
Acknowledge the Room for Improvement
This is one of the important end of year habits for entrepreneurs! Why? Well, it can help provide some “to-do’s” for the following year! That said, there is one very important part of this habit — we said “room for improvement” and NOT “mistakes”. Look, human beings are fallible… period. Every single one of use will trip and fall, especially withe the added pressure of running a company. However, these stumbles are actually blessings in disguise. Why? Well, they often bring new opportunities to light. Which is a major blessing.
Review Your Mission Statement
By reviewing your mission statement, you are giving yourself an opportunity to see what changes your company needs to make the following year. Sometimes, this change is simply “changing the mission statement”! Why? Well, think about it, people change. Since companies are run by people, the mission statement can change, too!
If your mission statement does not need to change, this habit can help you brainstorm ideas to help your company really embody the mission. So, this is why we added “reviewing your mission” to the list of the end of year habits for entrepreneurs!
Look at Your Calendar for that Year
We often stress the importance of taking breaks for personal leisure and/or family time. We do this because it is absolutely, critical! So, when looking at your calendar, we suggest color coding what parts were for work and what parts were for play. Moving forward, be sure to schedule out “me time” (and actually add it, with the color code, to the calendar).
Our lives are full of chapters, and they will always come to a close. The end of the year is not always the end of a chapter, but it can be! Therefore, it can provide an opportunity to have a fresh start! That said, Happy New Year! Oh, and THANK YOU for allowing us to play a role in your business by reading (at least one) of our blogs!