The biggest mistake many business owners will make in 2018
With the year laid before us and an abundance of opportunities ahead as a business owner, it is important to ensure you have clarity on the outcomes you want to achieve.
Setting goals and objectives is a great start; however, as a business owner, there is one vital piece of the puzzle that could be missing. Unless you use this tool, it is easy for weeks, months and possibly the whole year to go by without truly having the rubber meet the road.
You see, the biggest mistake that many business owners will make is… waking up each day and going to work ‘in’ their business (that is, working on their trade/on the tools/doing the work), without ever taking time to reflect and work ‘on’ their business. This means stopping to check in and see whether the activities that are consuming their day are actually taking them towards their goals and objectives, or if they are just running in circles and replaying the same day and week many times in a row.
The power of reflection — that is, checking in on your progress for the year. I recommend that as a business owner and leader of your life, you take time at least monthly — or, even better, weekly — to review your goals and objectives and ask yourself the most important question: “Is the activity and the work that my team and I are involved in aligned with the outcomes I want to achieve this year?”
Also, do you have a method to measure your progress? A scoreboard to keep track of your progress, or a dashboard with some monthly and weekly measurements, that gives you direct feedback on your progress? This scorecard will be your map, keeping you on track to reach your objectives.
How to use it
- Set goals, objectives and key measurable outcomes.
- Work on specific activities that progress you towards the items in point number one.
- Schedule time monthly/weekly to check in and ask ‘The Question’.
- Have some measurements and a scoreboard to give you clarity on where you are on your journey for the year.
- Adjust your activities should you feel that progress is not being made.
All the best for a great year ahead. Ensure that this year is one of your best by taking the time to reflect, check in and adjust.
Proposed changes to home building licensing laws in New South Wales aim to make doing business...
Discretionary spending has increased over the past few years, as consumers in Australia and the...
...unless you educate them.