Month: December 2019

2020, Communication, Entrepreneurship, Growth, Leadership, Leadership Development, Motivation, New Year's Resolution, Personal Development, Self-Improvement, Small Business Development, Social, Uncategorized, Vision, Women & Leadership

Don’t Bury Your Talents in 2020

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Well, today is the final day of this year.  As part of my own goal planning process, I conducted my 2019 year in review.  I checked off my accomplishments and reprioritized my goals for 2020.

Like many people, I worked through some challenges in 2019.  But through it all, I will enter 2020 renewed and ready to use my gifts and talents in this year.  As you evaluate your 2019, reflect, evaluate, and celebrate your story.  Remember that your failures or setbacks do not define you, because you still have a chance to rewrite your own story.

I want to remind everyone of an important biblical story.  In a biblical passage, a Master gives his servants several talents, according to their ability.  He then plans to take a journey but vows to return.  The Master gave one servant five talents, which the servant doubled.  The next servant was given two talents.  He did the same.  The last servant was given one talent and he buried it in the dirt.  This servant, in his mind, played it safe.  He was afraid of the unknown, or possibly lazy, so he buried his talent.  The servant expected his Master to be thankful for protecting the talent.  When the Master returned, he congratulated the first two servants for their diligence.  But with the third servant, he was infuriated and dealt with him harshly.  The key point in this story, is that we have all been given a portion of talent or ability.  However, it is what we do with it that counts.  Do we multiply it, or do we bury it?

As you enter 2020, know that it is okay to step outside your comfort zone.  In order to change the world and leave a lasting impact, it requires that you take a risk on yourself. Do not be like the servant in the passage and bury your talents.  When we bury our talents, we hold back solutions, knowledge, skills, innovation, and creativity.  We literally rob the world from utilizing and benefiting from our giftedness.

As a professor, author, speaker, coach, and leadership expert, my goal for 2020 is to convince you not to bury your gifts.  Tomorrow is the beginning of a new year, start the year off in grand fashion by utilizing your God given gifts and talents.

Join “Dr. Regina’s World” by following me on Twitter, Facebook, LinkedIn, Pinterest, Tumblr, and YouTube and let’s start using our gifts together.

From my family to yours, I wish you a healthy, successful, and prosperous New Year.

Dr. Regina Banks-Hall

2020, Growth, Leadership Development, Motivation, New Year's Resolution, Small Business Development, Vision, Women & Leadership

2020 New Year’s Resolutions for Small Businesses

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Photo by cottonbro on Pexels.com

For many small businesses, 2019 was a pretty good year.  As I spent time evaluating my  community, I saw several help wanted signs.  I noticed local coffee shops and restaurants full with customers, and I saw the opening of several new businesses.   As a small business coach, I know that many business owners sometimes just want to enjoy their success.   However, we must always take time at the end of the year to reflect, evaluate, and strategize.   As you get ready to end the year, I wanted to share five areas to review,  to ensure a successful 2020.

  1. As an Economics Professor and Small Business Coach, I share with students the principle, that every business must understand the market or industry in which it operates.   Therefore, it is important to understand your particular industry.   What is happening in the coffee, t-shirt, restaurant, or retail industry.  Is your industry thriving?  Is your industry maturing?   Where are opportunities for growth?
  2.  When you create goals for your business, remember that these goals may require a full year commitment.  Therefore, the first quarter of next year should be used to evaluate your year-long strategy.   You may also find that the goals you created require a longer implementation plan.  Therefore, decide what’s first, second, or third on your list.
  3.  Review your cyber security measures.  Think about how you can back up your company’s data and create a firewall that prevents hackers from accessing your corporate newtork.   Determine if you are using the latest security software for your computers.  Is there more efficient way to handle moble transactions.   Finally, encourage employees to change their passwords on a regular basis.
  4. Reduce Debt –  As a small business owner, it is important to review and understand  your financial outlook.  Therefore, look for ways to eliminate debt.  For example, can you take out a business line of credit, and take advantage of lower interest rates.  Can you consolidate credit cards, or can you pay off a loan with a year-end bonus and free up your credit cards.
  5. Review your growth plans.  Look at your product and services.   The beginning of the year, may be a great time to add a new product or expand your services.   Researching growth opportunities in your particular industry, can also help you identify opportunities in this area.

As you end the year, review your 2019.  Reflect, evaluate and determine your goals for 2020.  You may not eliminate all your business debt, but your strategy to expand your product and services may increase your profitability.   You may find through your reflection and evaluation that 2019 provided a solid blueprint for 2020.  Remember business goals are designed to provide improvements to your business. Therefore, think about your goals carefully and strategize for a profitably 2020.

Best wishes,

Dr. Regina Banks-Hall

For more information, on how we can help you create your 2020 vision, please complete the contact form below.