Why Business New Year Resolutions Don’t Work

If you had to guess, what would you say is the success rate for people achieving their New Year resolutions?

Well, statistics vary, but the average is 10%.

That’s pretty shocking, but what is more shocking is that the statistics are even worse for business goals.

Amazingly only 6% of businesses achieve their growth goals.

While there’s a whole industry around how the brain works and the secrets behind how to set and keep our New Year resolutions, clearly this cannot simplistically be applied to setting your business goals – but yet many businesses do.

I spoke to a number of businesses in the run up to the festive season and asked what goals they are setting for 2018.

Quite honestly for most it was the New Year resolution approach. You know…

  • Lose weight (i.e. be more effective)
  • Be healthier (i.e. grow and develop)
  • Spend more time with friends and family (i.e. develop strategic partnerships)
  • Save money or spend less (i.e. be more efficient)

In essence they are all growth-focused, but just like individual resolutions, they’re pretty much the same as last year and as we now know there’s a 94% chance of failure.

The good news is that for business the secret of success is knowing exactly where to focus your energies and efforts. The problem is that many businesses assume they know what to focus on, but often get it wrong.

I have learnt a lot from growth-focused businesses over the years and the ones that take the time to figure out where to devote their energies, rather than relying on gut instinct or guesswork, are the ones that invariably succeed.

That’s why I have distilled this knowledge into a free, quick, easy assessment for businesses that want to part of the elite 6% that do achieve their growth ambitions

If you would like access this assessment, please visit my website.

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Barbara Armstrong is the founder of P three Business Development, author of Get Fit for Growth and co-founder of Mindplay

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