05 Dec

End of the year reflections

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It is the end of another year. You are feeling exhausted, having had to face challenges and have had highs and lows. This is a great time to reflect on your business. It is important to do a ‘balance sheet’ of what has happened. Take a page and draw a line in the middle. Do not do this on your computer! It is a personal thing and I feel when you do this sort of thing it just seems more real doing it on paper instead of doing it on your computer (or any other device). On the left of the page write down all the good things that have happened. On the right hand side, write down all the negative stuff. Be brutal, don not hold back. Self analysis is a healthy activity.

 

 

I do not believe in New Year’s resolutions and very few people ever keep them. I do however believe in formulating strategies and measuring how you are performing against them during the year.  A good exercise is take the negative column and work out how to overcome them in the New Year.  Be practical. Set realistic goals and sprinkle a bit of positive thinking for good measure.

 

Each year there are a few things you should consider:

  • How is the business doing compared to the original business plan? This is a great exercise. It also helps to remind you why you do what you do. 
  • Are you still making a difference?
  • Do you still wake up in the morning and get excited about the day?
  • Are you happy? Have you reached that stage in your life where business and personal life in balanced? 

 

If your answers were negative, you have to reconsider what you are doing and how you are doing it.

 

Do not let cash flow be a discourager. One thing is certain: if you pursue your dream with passion the cash flow improves. If you pursue cash flow you make things tougher on yourself. It is easy to make decisions based on the cash situation. If you only focus on fixing cash flow it does not last long because it is not sustainable. I find many entrepreneurs making the wrong choices were purely based on cash flow. Focus on the bigger picture and bring it back step by step which includes cash flow. 

 

I would love to see some of your ‘balance sheets’. If you want me to comment and maybe assist, scan them and email them to me. And remember to turn obstacles into opportunities.

 

Have a blessed Christmas and a great New Year. 

 

You can contact Dave via email on This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

 

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