So it’s the middle of February. How’s your year progressing so far? 12% of 2011 has passed already. Yes, 12%! Time literally flies by without taking any notice of what we are doing – it does not pause for us, it consistently ticks by minute after minute. So what have you been doing with those minutes? If you’ve wasted 12% of the year already, what can you do to make sure the remaining 88% is concentrated on business growth?
What could you be doing to get your business buzzing?
- Review what’s been going on in your business. Stop and check what your financials are telling you. How was January? Fab, great or not so great? Okay, now for the story behind your figures. Were you on holidays? Was your ideal client on holiday? If you have a huge tourist trade at this time of year, were the results fab? Did you take advantage of this “booming” time of year? What could you learn and implement for the next tourist season?
- Review your cash position. Are you viable? If you’re a service business, concentrate on the collection of outstanding debts, ensure regular invoicing and send out statements. If you’re still in holiday mode, get off your butt and follow up with your clients. If you’re in retail, are you stock heavy? Move it, discount, do whatever it takes to reduce your inventory and get more cash in. The longer you hold onto inventory the more money it costs you. Ensure you review your buying strategy so that you don’t make the same mistake next time.
- Review the goals you set at the start of 2011. Did you set realistic goals? They weren’t pie in the sky were they? Did you break them down into quarters and then into 30/60/90 days within each quarter? Great! Did you then identify the tasks associated with each goal and schedule those into your calendar? You’ve got minimal chance of getting them done if you haven’t scheduled them in.
- Do you need to revisit your goals based on your January review? Be honest with yourself, should you move some out, time wise? Do you need a complete redirection? Or do you just need to knuckle down to get some action happening?
- If you complete steps 1 to 4 above and it’s not looking good and you’re struggling, just know this happens to everyone, myself included. Even the Donald Trumps of this world have periods like that in their business. Remember the turning point is not far away, so stick with it. The journey is the growth, let it happen and growth will come.
The 12% of my year has been a growth period for me but was not without struggle and tears. Two blog posts I wrote for the Australian Businesswomens network explain this a little more: Give Up? Not a Chance and Just Do