Loader

Gain 20/20 Hindsight for 2020 to Grow Your Business

4 min read

As the new year begins, we forge resolutions or commitments for our personal lives, work or both to improve upon the past. PERQ surveyed our Multifamily, Home Furnishings and Automotive customers to gain insights, or hindsight in this case, asking: What advice do you wish you would have told yourself at the beginning of 2019?

 

It is easier to understand something after it’s already happened. The start of 2020 presents the perfect time to reflect as we look toward the year ahead and set new goals. As you read our clients’ responses, you realize we are all trying to figure out the journey as we go, learning important lessons along the way. Perhaps you can begin 2020 with a different perspective.

 

Improve Health, Be Patient, Trust Your Intuition, Plus 2 Stock Tips

 

Goals and resolutions can apply to life in general, or be specific to your professional or personal roles. Common survey responses advised focusing on better health, being more patient with yourself and trusting your gut. Recurrent health hindsight included “put down the donuts,” “the keto diet is hard,” and “lose weight.” Along with positive spins, like “spend more time with family,” “get better insurance” and “it’s going to be a great year.”

 

Respondents would tell themselves to practice patience in 2019. Roughly 10% of results centered around enduring difficult circumstances from pressure, delays or other difficulties. These included “be patient,” “stay patient,” “with patience, anything is possible,” “be calm, it will all work out – breathe” and “like every other year, have patience because there will be many ups and downs. A true measure of your success is how you overcome those hurdles.”

 

Another popular response included relying on intuition, saying “listen to your gut” and “your gut is always right.” Moving from the midsection to the mind: “Be open-minded to any possibility” and “be more open-minded.” Advice to one’s year-younger self-included “go for it,” “don’t sweat the small stuff” and “don’t give up, nothing lasts forever.”

 

Now, time for the all-important stock tips you’ve been anxiously awaiting. From two different respondents, “don’t invest in marijuana stocks” and “invest in Amazon.” If stocks aren’t your forte and improving business performance is top priority, let’s take a look at what respondents wish they had shared with themselves last year.

 

Reflect to See a More Clear Future and Bolster Business

 

A common team theme from respondents focused on staying the course, the importance of teamwork and believing in yourself. Replies comprise of “no matter what, always be confident in yourself and your team,” “don’t be so hard on yourself — believe in your vision for your team and stick to it,” “we can accomplish amazing things with the right people who are team players,” and “become a selfless leader.”

 

Some specific advice concentrated on how to improve online performance, such as “spend more time working on Google My Business,” “stay strong and advertise a lot,” “we need a new website” and “we won’t be getting a new computer system.” Others included financial factors, like “lookout for the rise in consumer financing costs,” “credit is king, not cash” and “tax hikes are real and impactful.”

 

Multiple responses revolved around efficiency and working smarter in the new year ahead. Reflection included “be calm and stay focused — get ahead of projects by prioritizing more efficiently,” “answering an avalanche of emails immediately all day long will get you nowhere, but to an even bigger avalanche,” and “make a plan, execute and develop a rhythm to check-in, and see if we are executing to plan better.”

 

For the most part, respondents remained positively optimistic and submitted applicable business lessons to reflect on as we enter 2020, while also acknowledging things aren’t always predictable.

 

Here are a few more pearls of 2019 wisdom to start the year off with fresh inspiration:

“Things aren’t always as they appear. Do your research.”
“Embrace change, and use it to improve the bottom line.”
“Invest more in the things that matter.”
“Don’t get discouraged, all your hard work WILL pay off.”
“Don’t wait until tomorrow, it will never come.”