Retail Observer

January 2020

The Retail Observer is an industry leading magazine for INDEPENDENT RETAILERS in Major Appliances, Consumer Electronics and Home Furnishings

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RETAILOBSERVER.COM JANUARY 2020 64 I f you're a business owner, December was a great time to reflect on your growth and do a little advance planning for 2020. If you didn't get around to it in December, January's not a bad time to get started. What's your plan – to up your success in the new year, or enjoy the success you've achieved? Here are some ideas for New Year's resolutions that will help you grow your business and achieve a better work-life balance. • Learn to Delegate When you own a small business, there are so many things to do! And it's all too easy to get caught up in the thought that you have to do them all by yourself. And then we wonder why we're pulling our hair out at the end of the day! Why not hand off some of the minor stuff and give yourself a break? Delegation is the key to a healthy work-life balance. • Make Business and Personal Planning a Regular Quarterly Habit Planning is vital for running a healthy, growing business and for having a satisfying personal life. Regular planning lets you take stock of what's worked (or not) in the past and set new directions or adjust your goals. But planning isn't something to do just once a year. Why not set aside some time every quarter to review, adjust and look forward. It'll not only help you avoid costly mistakes, it will help you keep more focused and relaxed. • Create a Plan of the Day Every morning, make a list of the tasks you need to accomplish during the day, both at work and in your personal life. The list will keep you on track for a more productive day and will help you avoid getting distracted by unproductive busywork. • Learn Something New Lifelong learning will build your personal skills and add a breadth of interest to your life. It's not only a great tool for maintaining a healthy work-life balance, it will energize your enthusiasm and boost your business success. It really doesn't matter if what you're learning is directly related to your business. What matters is that you're constantly learning. Peer groups, podcasts and audio books can help, depending on your personal interests. Business consultants and coaches can also help you set a path to acquiring new skills. • Join a Business Organization or Networking Group Talking with others will help you stay aware of local business trends and can spark ideas for your growth. Making valued contacts is good for your business. Whether it's a net- working group or an organization dedicated to a particular type of business, taking time to be a part of a group, whether in person online, will help keep you and your business vitalized. • Give Back to Your Community There are so many community organizations that will welcome your help. What you give, you receive; and while it shouldn't be your main reason for volunteering, helping others will boost your creds with your fellow volunteers who may want to start doing business with you because of your shared interests. • Schedule Some Time for Yourself Our business demands can seem never-ending. To keep a healthy work-life balance, you need to take regular time-outs to recharge and refresh. All work and no play is a recipe for mental and physical burnout. It's important to block out some regular time for yourself, to enjoy the things you like doing and take your mind off the daily routine. Your business will be there when you get back. Even though a healthy work-life balance is a key to your personal and business success, you'll have to work at it persistently. If you apply at least some of these New Year's resolutions, you'll not only feel better, you'll have more energy to invest in your business and your life. HERE'S TO A BETTER YEAR S E R V I C E D E P A R T M E N T RO Ralph Wolff, Industry Relations, PSA

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