A new year is a good time to break old habits and introduce new ones. A fresh start, new approaches, and resolutions to do things better than last year.
Planning and Budgeting
Everyone trickles back to work at different times in the new year. We slowly ease our way back into the swing of things and before you know it, we are busy being busy and the daily grind takes over. Make a resolution this year to have a plan that you work towards. The plan needs goals, tasks, milestones and measures. If you don’t already have a budget, create one… and stick to it.
Make 2018 the year that you clamp down on bad paying customers. If you have done the job and delivered the goods or services, your customer needs to pay you. Why else are you in business, if not to earn a living? On the flip side, it is just as important to pay your suppliers timeously. Remember, you attract customers like yourself.
Systems, Processes, Procedures
If you haven’t documented your systems and processes, you will be doomed to reinvent the wheel and do the tasks yourself forever. Documenting systems and processes seems like a monumental task, but if you break them down into bite-size chunks, and have a plan to do a little bit at a time, you can get it done in the first quarter of the year. The time you spend documenting the systems and processes now will save you time down the line, so make it a priority this year.
Communicate with your team
I have been surprised at how few business owners have regular meetings with their teams. You need to talk about how things are going, catch up, share ideas, share concerns, brainstorm, find solutions, new ways of doing things and hold each other accountable. Set up regular meetings with a proper agenda.
Track your numbers
If you, like many business owners, don’t regularly look at your financial statements, management reports and key performance indicators, now is a good time to start. You can’t manage what you can’t measure. Set up an appointment with your accountant to truly understand where your business is at, so you can work out where to focus your attention.
People avoid adopting good habits for many reasons… because they don’t know how, they think it’s inconvenient, they fear the consequences, they want to avoid conflict, they are in denial, and the list goes on. Choose something small… ask yourself why you are not doing it? Determine how you can overcome it. Remind yourself of the benefit of introducing this new habit, then make it happen.
Alternatively, perhaps 2018 is the year to…
Get a Business Coach
There was a time when business coaches were brought on board “because there was a problem”. As the popularity of business coaching increased, so did the cost of coaching. Business coaching became the flavour of the month for high flying businesses, and it was almost a status symbol to say you had a business coach. It’s now a common service to many business owners who recognise the need for outside input and guidance to keep them on track and hold them accountable. A good business coaching programme will pay for itself – give me a call and I will show you how.
From all of us at bizHQ, best wishes for 2018. Make it a year to remember!