Seventy-five percent of the calendar year is behind you.
Can the same be said for the year’s goals, income expectations, etc?
Will you wait until the end of the year to plan your next 6-12-18 months or are you doing it now?
How often do you review the results of your work?
On the other hand…does it really matter? I mean, is there really a good reason to defer the decision about when you reassess your business to a schedule designed almost 500 years ago?
Yes, I mean the monthly calendar.
What can you do better on January 2 that you can’t assess, decide and plan on today or perhaps next weekend?
As in “Why wait?”
Business owners assess the financial position of their business on a regular basis since they have to make payroll (no matter what that means to your business) and pay bills. Today’s software and banking systems provide up to the minute balance info.
Thing is, so do most other aspects of your business.Â But do you use them?
Are you assessing the rest of your business as often as your financials?
Are you adjusting your plans based on the results you’ve measured in the last week, month, quarter? Have the first three quarters of this year changed what you’re implementing now? Are you re-inventing the rest of this year? Does it need it? Whether things are better or worse, if you are waiting till the end of the year to adjust….why?
Do you only look at your gas gauge when you leave the house and arrive at your destination? Why do that with your business?
Do the bumps your business encountered this year matter? What would you do differently if they came along again?
My plans for this year got hit by a bus in April.
I was fortunate because I had been able to position myself to grab some clothes, my laptop and phone and head out the door if I needed to deal with an unplanned emergency. Unfortunately, that emergency happened.
While it still had an impact on my work – I was still able to respond as I wished vs. not being able to do anything or worse, do far less than what I would have liked. That’s a regret you don’t want to have if you can help it, but you’ll probably have to plan for it.
Planning for the work, if you can’t outsource it, is another thing entirely. What can you outsource? What can you outsource if you HAVE to?
Your plans might take a hit next month. Tis better to be prepared than not, even if you can’t be perfectly ready.
Expect bumps. Plan for them. Sometimes the worst case scenario comes true. If it doesn’t, you can be grateful that it didn’t.
If a bump occurs, no matter how bad, coming back for it might look something like this: React, respond, recover, realign, restructure, reset, restart.
Is that all?
Beyond the bumps, there’s something missing here. Reacting after the fact. Assessment and adjustment after the bleeding starts. Evaluating what’s going on because the calendar says so.
Does that make sense in an ultra-competitive world? I think there has to be a better way.
We’ll talk about that next time.