Everyone aspires to succeed. While some people get lucky, for most of us, success is due to thinking ahead, smart decisions, and hard work. Growth in your career or business is also fundamental to a stronger financial future, for yourself and your family.
SageVest Wealth Management’s New Year resolutions for business and career success will help you strive towards new heights in your business, career, and personal life.
1. Identify Strengths & Weaknesses
Successful people know how to de-emphasize weaknesses, while capitalizing on strengths.
One of the easiest ways to identify your strengths and weaknesses is to garner feedback from family, friends, colleagues, customers, and others. Constructive criticism can present a growth opportunity for you, your career, or your business.
Try Aptitude And Personality Testing
Professional diagnostics to assess your key personality traits or business strengths can be incredibly insightful. The knowledge gained can help you run your business more wisely, or strengthen your professional path e.g., when interviewing, test results can suggest talking points and guide your answers.
2. Differentiate Yourself
If you’re focused on growth, you need to differentiate yourself from the masses.
Invest In Your Brand And Reputation
Whether you run a business or you’re a professional looking to grow, distinguish your brand and seek greater recognition. Google yourself to see how you appear and your rankings, then polish your image online and in print, and garner social media endorsements.
Stand out in your message and your appearance. You want to be remembered (but always in a good way!)
Become A Knowledge Leader Or Create A Market Niche
A proven path toward success is to become a knowledge pioneer or to develop a unique business model. This sets you apart from your competition.
3. Develop Business Networks
Introductions and name recognition remain critical for professional development and growing your business.
Attend Conferences And Industry Events
Events are a great way to broaden your knowledge as well as expand your professional and client network. Mingle, learn, discuss, get contact information – and follow up!
Cultivate Your Online Presence
Embrace social media! Market yourself, your business, your ideas, and your achievements online through LinkedIn and other social networks, or through a carefully curated, up-to-date blog or company website.
Know Your Colleagues And Your Competitors
It’s wise to know and understand your colleagues, and carefully monitor your competitors. Doing so ensures alertness to industry trends and keeps you responsive, evolving, and hopefully growing. Keep your eyes and ears open for emerging opportunities.
Explore Allied Business Models
Cultivating relationships with allied professionals or businesses that offer synergies can be critical for messaging, networking, business growth, business support needs, response to industry changes, and more.
4. Seek Advice
You don’t have to do everything yourself. It can be smart, efficient, and productive to seek specialist advice.
Find A Mentor
If you’re relatively new in your career or company, seek or ask for a mentor.
If you’re searching for a job, consider hiring a career consultant or interview coach. If you own your own business or you’re a manager, hire wisely. Thoroughly vet potential employees through interviews, background checks, references, and even skills and personality trait evaluations. Outsourcing is another option.
Education is a lifelong journey. Remain open to continued learning and additional training as and when needed.
5. Understand Your Business
Whether you’re on the retail front lines, or sitting in a corporate office, you need an in-depth understanding of your business.
Know What’s Profitable And What’s Not
Stay alert to how your business or department is faring financially, as your growth opportunities are closely linked to the bottom line. Keep a careful eye on profitability and cut ties to loss leaders.
A wise professor of mine once stated, “Change is inevitable, growth is optional”. Maintain a forward-looking mentality and stay abreast of industry and technology changes. Whether you’re a business owner, manager or employee, your input on smart decisions for the company is critical link to long-term success.
6. Be Prepared
Wise business and personal plans should always include a Plan B.
Keep a critical eye on how business decisions are playing out. Give them time to succeed, but know when to quit, and have an alternate strategy in reserve.
Retain Insurance Protection
Protect yourself, your family, and your business with adequate insurance.
Maintain Adequate Reserves
Financial liquidity for you and your business ensures you can stay afloat through difficult times. Having reserves on hand allows you to set a confident course forward.
Implement A Succession Plan
Up-to-date estate planning documents are essential on a personal level, and if you’ve built a business, you owe it to yourself, your family, and your employees to have a succession plan in place should anything happen.
At SageVest Wealth Management, we’re devoted to helping our clients succeed, in their finances, their careers, and their lives. Whether you’re an employee, consultant, business owner, or other professional, we can help you balance your business and personal financial objectives. Please contact us to discuss more.