BACK TO SCHOOL!!

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Yes! School is back this week and “normality” can return for many of us who have been juggling business and childcare over the last 6 and a bit weeks, the kids are obviously thrilled to be going back to learning, homework and the new school year, but should we take a leaf out of their books? By this I mean, should we be looking at September as a time for a fresh start for our businesses?

For those of you in retail it may be that Black Friday and Christmas are at the forefront of your mind right now, but a lot of you will have planned and plotted for both of these already as the reality is the marketing and sales plans will be kicking off very soon and so a September refresh and review might not be appropriate but if that’s the case – pick a month that is quieter for you – the same still applies!

So what do I mean by a fresh start? I believe it’s always good to take time out, take a step back and take stock of how your business is doing and see if it is where you thought it would be and, more importantly, where you want it to be. This isn’t about the financials (yes, I really did just say that **), it is about the big picture:

  •         is the business in the right place?

  •         are you working with the right people or customers?

  •         do you have the right offering (be that services or products)?

  •         are you happy with the direction in which it is heading?

This may not be where you thought you were heading 6,12, 24 months ago and that is fine, but are you happy with it as it stands right now.

If yes, then that’s great! Look to what you need to do to keep it heading in that direction and if there are tweaks you need to make.

If no, then what do you need to do to bring it back on track to where you want to be so that you bring that sparkle and joy back into what you are doing, it might be that you need to work with someone to help you re-find your focus and direction again (there are lots of business coaches out there so take the time to find the right fit for you).

This big picture review is really important, we are generally so caught up in the day-to-day nitty gritty of our businesses that we don’t see the big picture and so it can just pass us by and this means we may find ourselves and out businesses in the wrong place when it is too late to do anything about it.

 

** yes, this really isn’t about the financials.  It is important to know your financials (obviously) but you should be looking at these far more frequently than annually.  Knowing how your business is performing financially will allow you to make informed business decisions. This is all about stepping back and taking the big picture view.