1. Contact: Lynda McDermott
WPO Tampa Chapter Chair
lmcdermott@equiproint.com
813-415-3664
TEN NEW YEAR’S GOALS FOR ENTREPRENEURS
So we’re now in Week 3 of 2011—and how many of you have already broken your New Year’s
Resolutions?
I’ve never been big on New Year’s Resolutions but I am resolute about setting Annual Goals. As a
consultant to growing businesses and executive coach to CEOs and their leadership teams, here
are Ten New Year’s Goals for Entrepreneurs you may want to consider for 2011:
1. Set a 3 Year Vision for your Company. Engage your team in painting a vivid picture
of where you could be by January 2014. The vision should be aspirational and offer an
opportunity for your team to set stretch goals over the next 3 years to achieve it.
2. Decide on what you need to measure. Read up on the concept of the Balanced
Scorecard and set up yours. Do you know how much revenue comes from each of your
customers? Which ones are the most profitable? How do you measure customer/client
service?
3. Retain and grow your customers. Analyze your top 10 customers and go have
discussions with them about their plans and problems. Jointly look at how you can work
together to address the problems as opportunities.
4. Find new customers. Look at what products and services can be sold to a new audience
of customers. Ask your current customers and clients for referrals. “Sales cures all ills”
and you need a targeted plan to pursue your best prospects.
5. Encourage innovation for new products and services. If you are standing still, the
world will pass you by. Even if you are not in the high tech industry, technology is
impacting how you need to be doing business and what products and services you need to
adapt to the technology opportunities in front of you. If you are not a ‘techie’ then invite
a group of younger or more tech-oriented clients, friends or family members to form a
focus group that will give you ideas for moving your business into this new decade.
6. Be focused on your people. From the Receptionist to the Executive Vice President—ask
your people what they want to accomplish for themselves in 2011 and set up Individual
Development Plans. . If you care about them, they will care about you.
7. Never stop paying attention to profits. Some CEOs are only concerned about
revenues. Look for ways to cut expenses that do not add value to the business. Adjust
prices to stay competitive and maintain a healthy gross margin.

2. 8. Analyze your ‘front stage’ and your ‘back stage’ processes. Look at the
customer/client experience from their perspective and identify how to optimize client
satisfaction. Then look at how the business could be improved from behind the scenes.
Your people are the best source of ideas for that. And then set up a Plan of Action to
implement the best ideas.
9. Re-Examine your Marketing Strategy and Materials. Examine your strategy, your
messaging and your marketing tools. Does your brand need refreshed? Is your message
resonating with your emerging target markets? Does your website provide a positive
browsing/shopping experience? Are you maximizing appropriate use of social media
tools? Get an outside view and prioritize a list of quick fixes and longer-term changes.
10. Focus on you the CEO. Are you leading your business and your personal lives as well
as you could? Are you spending your time on the “important” or just “urgent” activities
and issues? The leadership legacy you leave behind is the way you are leading your life
today.
If you haven’t done it already this new year, take a few quiet days off and do an honest
assessment of how you can make 2011 your BEST YEAR YET! Then pull your team together to
do the same exercise. As a mentor of mine once said: “A finished leader is a finished leader!”
Wishing you a healthy, successful and Happy New Year!
Lynda McDermott
Chair
Women President’s Organization
Tampa Bay Chapter
About Women Presidents’ Organization (WPO)
The WPO is the premier global peer advisory organization connecting top women entrepreneurs
who own multi-million dollar companies. In monthly meetings across the US, Canada, Peru,
South Africa and the UK chapters composed of 20 accomplished women presidents – from
diverse industries and backgrounds – invest time and energy in themselves and their businesses to
drive their corporations to the next level. Local WPO chapters are coordinated by a professional
facilitator and meet monthly to share business expertise and experience in a confidential and
collaborative setting. For more information, call 813-415-3664 or visit
http://www.womenpresidentsorg.com.