Resolutions – Love Or Hate Them?
For the past two weeks we’ve been bombarded with articles on either setting resolutions, why resolutions don’t work, what to do about ensuring you keep your resolutions and other interesting articles on why the New Year isn’t the best time to make changes.
Remember to be specific with the financials.
I often reference ‘Financial Freedom’ (my personal article on the subject here), and encourage business owners to consider why they do what they do in terms of their personal finances. So often we get caught up in the busy-ness of everyday life that months fly past all too quickly. Therefore, personally I enjoy this time of year for reviewing how previous plans worked out and reflecting longer term.
PITCHING FOR BUSINESS IN 2019
For anyone focused on growing their business in 2019 (whether product or service), a great read is ‘Book Yourself Solid’ by Michael Port.
This book helps you focus on what your customers want and how to talk in ‘their’ language which is sometimes missed. We can focus too much on what we value about what we do, rather than the language of our customers, which should be our key focus.
FOCUS ON HIGH MARGIN
Again, whether product or service, ensure you know which will earn you the highest profit margin and which will impact your business in a positive manner quickest. All too often businesses advertise and market themselves without being very specific. You may offer different products or services and rather than advertising generally (or pitching your business generally), being clear on which part of your business you want to grow, will help you ensure your financial targets look after themselves.
KEEPING EVERYTHING IN BALANCE
This is a personal focus for me and many of my clients. As we talk to other business owners, it becomes apparent that many have lost sight of ‘why’ they do what they do. Spending too much time in your business and not having the energy and free time you want (and need) for your loved ones, can be a huge challenge for many.
A phrase I like is ‘working to live, not living to work’. While discussing how my holidays were clashing with something work related last summer and I was feeling frustrated, a very clever experienced acquaintance said that phrase to me and now I like to remind myself of often. (Thank you Adrian).
Close your eyes and imagine how you would like your life to look in twelve months time. Without wishing away our lives, being clear on how you want things to be is pretty important. It’s hard to hit a target we can’t see.
Whether you want to set yourself goals or make resolutions for how you’d like 2019 to go, make sure you stay focused on the bigger picture.
Get as much advice from others as possible when needed, focus on the financials and don’t forget WHY you’re doing it.
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[7 January 2019]