Five resolutions business owners should make for 2026
The New Year is more than a symbolic reset; it’s an inflection point. Resist the temptation to get straight back into the day-to-day execution of running your business and make some resolutions to see you through the next 12 months and beyond.
1. I will set a goal for where my business will be at the end of 2026?
You need to know where you are going so that you can make a plan to get there.
Start by defining outcomes, especially around how you might want to exit your business. Do you want the option to sell or retain full control? How involved do you want to be day to day? What does success look like financially, operationally, and personally? Could someone else run this business without you?
Don’t drift into the future, choose to own and allocate your most precious resources, your time, focus, and energy this year?
2. I will identify the gaps in where my business is now and where I want it to be
Once you are clear on your long-term destination, take an unflinching look at where you are today. What would prevent your business from achieving that outcome? Where are you fragile, messy, or overly complex? What would concern an outside buyer, investor, or successor?
This gap isn’t a problem; it’s your roadmap and can be turned into an opportunity that you lead and control by creating an achievable plan to close the gap. We advise businesses to have a three-year plan and a one-year plan. This makes it easy to break down your goals into manageable sections and see how you are going to make progress.
3. I will make my business less dependent on me
We’ve worked with many businesses where owners struggle to delegate, feeling they are essential to every decision and process in their business, and it stifles growth. If you disappeared for a month, would decisions stall? Would revenue drop? Would clients panic? If the answer is yes to any of these questions, make 2026 the year your business becomes less dependent on you.
A business that relies on the owner for sales, approvals, and problem-solving is hard to scale and harder to exit. Focus on documenting processes, delegating decision-making, and building leadership beneath you.
4. I will review customer and revenue concentration
How much revenue comes from your top few customers? How dependent are you on a single channel or partner? High concentration increases risk and reduces your options. Not only is too much dependence on one client or relationship a risk for your growing business, when it comes to getting a good price at exit, buyers don’t like it.
Aim to broaden your customer base, diversify lead sources, and strengthen accounts.
5. I will run my business as if I were going to sell it soon
Running your business as if you were going to sell it and due diligence was coming is one of the smartest moves you can make in 2026. Clean, consistent bookkeeping, clear separation of personal and business expenses, and monthly reporting you trust will give you confidence and credibility long before any exit transaction. We’ve recently completed an exit with a client having spent several years working with them, because they had such a clear understanding of the figures, they were able to quickly and easily answer over 100 questions put to them by the business broker involved in the sale of their business!
Be strategic
You don’t need to decide everything today. But you do need to decide to be strategic. Run your business this year as if you are planning to sell it or at least explore sale options. Whether you are ready to start the process during 2026 or not, your business will benefit from a New Year’s Resolution to work towards getting your business exit-ready.
The herd is here to help. Why not start by finding out how much your business is currently worth to help you to understand if it will support your long term plans . Go to https://elephants-child.co.uk/business-valuation/ to begin your free valuation.