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Do you review your business regularly?

Whatever your starting point today, you are where you are. It doesn’t matter what’s gone before. It doesn’t matter that that promotion worked, but the one that cost you loads in time and effort flopped. What’s important is that you learn from reviewing your business regularly.

review your business regularlyThe aim of your business review…

…is to look at everything through the clear eyes. I know you love everything about your business. And you spent months on ‘that’ particular part of your business. But really, as you review, have an open mind and open heart to look, see and listen.

How to review your business

So, “what do I review?”, I have clients saying. OK, it’s not flippant, but you do need to review everything in your business. Not every week, or month, but regularly.

  1. Review your business financials – are they what you were expecting at this time? Have you had more income in one area of your business that was unexpected, over the budget or plan you’d written?
  2. Review your customer service – whether you’re a one wo/man band, or have a staff team, what are the customer service issues that have come up. Is it a process issue that needs fixing, or a communication one? Is there something that’s not working quite right?
  3. Review your products and services – are they meeting your customer requirements? Are they profitable (or will be profitable once you hit x sales)? Are they what your customers are asking for? Is there something you’re being asked for that you could provide?
  4. Review your website – is your website working correctly? Do you have any errors showing on your webmaster console? Are you going to fix them, or do you have a web support person who does this for you? When was the last time you added content to your website? Are all your products and services up to date & still available? Are there any old products still listed which need removing?
  5. Review your staff / team – is everyone doing what you want them to do? To the standard you require? Are they value for money & adding value to your business? When was the last time you spent time with each team member to review your business goals and where they fit into that in your strategy?
  6. Review your business targets – targets are there to be aimed at, but things happen. New products come on the market; customer tastes alter; you change focus of what your business is about

 

How often should you review your business

Well that’s very much down to you and your business. We know you’ve got enough on your plate with ensuring all areas of the business are running smoothly. However, reviewing should be part of your business cycle that’s a standard part of at least your monthly schedule.

Some areas will only need a quarterly or half yearly review, but others you’ll want to spend more time on. For example, if you’re spending money on online advertising or social media support, you’ll want to know that this is bringing you the return you want.

All our businesses are different, so we’ll all have different priorities for review. We’ll all have different systems, but that’s fine. It has to work for us and our business.

Have we missed any areas for reviewing in your business? Please let us know in the comments below.

If you need help with your own business review, let us help you get clear. Book some time with Tracey-Jane & let’s get reviewing.

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Do you love your business?

Do you love your business? I do now, but it hasn’t always been like that.

All the businesses I’ve run have come from passions I’ve had, and I’ve loved them all. However, times change, life happens, and I know I’ve fallen out of love with some of these over time.

My difficulty, in business, came when it took me too long to recognise I know longer loved what I was doing, and I held on to the business for longer than was good for me. The business suffered.

The hardest time for me, was when I was holding on to a wonderful business I set up, bras4mums, when I’d stopping loving it. I loved the results it gave it’s customers, but my focus had been taken away onto other aspects of my life, and I knew I wasn’t giving it the attention it deserved.

As soon as I made the decision to let the business go, by selling it to someone who loves it, the weight lifted off my shoulders, my mind became clear, and I was able to focus on my other work and businesses. I started flying again, and loving everything I did.

How do you know if you love what you do?

do you love your businessI often get asked this. For some people, it’s obvious. They know as soon as they wake up in the morning what they’re setting out to achieve, and the small step they’re taking that day to work towards it. For others, it creeps up on you, like it did for me.

It may be that you love working with customers, or creating the product, but you don’t like all the pfaff that goes with running the business. Or, you love working from home and the flexibility it gives you, but you don’t like worrying about when you’re going to get paid next.

When I’m asked this, I get people to simply stop, and sit quietly. I ask them questions, and we explore together what they love, and what they could easily never do ever again. They work through the different ideas about:

  • why did you first start your business?
  • do you love your business?
  • what do you like least about running a business?
  • if you didn’t have to work for money, what would you do?
  • what’s the most important thing in the world to you?

These questions generally spark ideas, or questions that they have been hiding from themselves about what they love, and what’s not so great at the moment.

What’s the difference between love your business & love your family?

Well for me, I knew that when bras4mums came to life, it was a new baby in our family. It wasn’t just that this business was born 6 months after my youngest son was born. It grew with us as a family. Whilst I didn’t have to feed and clothe it, if I didn’t love and nuture it, it wouldn’t sustain it’s own life.

I know some business owners keep their business life quite separate from their family life. There’s nothing wrong with that. But as business owners we are who we are, and bring ourselves to our business. Does that separation mean that this business isn’t part of a nuturing family structure? (maybe that’s a question for another day).

I believe you can love your business with passion, in the same way you love your family. Your business can give you back enough love and support, from customers, and the joy you bring others through products and services, to warrant it’s “seat at the table”.

Now your family may disagree with the amount of time you’re spending on your business, and say, “you love that business more than you love us”. Is that how it feels sometimes? Just think of a poorly child. How much time will you spend with the child to nurse them back to health? Will you do the same with your business?

“I’m not sure I love my business enough”

Enough for what? The time away from the family? Time v Income equation? Effort v Reward?

Go back to the questions I ask my clients. Why are you in business? What’s important to you?

You need to be really clear about what you’re doing with your time, and what you want to achieve. Not just in your business, with your time. We only have so much of it, and we know we want to make the most of what we have.

Find Your Why

I’ve been learning a lot about myself these past few years. I felt there was something missing, or I’d missed something vital. It was almost like I knew I hadn’t found my “thing”. When I read Simon Sinek’s “Start with Why” book last year, everything started making sense again.

I undertook my own Find Your Why session and was amazed at what I learnt about myself, and it was almost like a game of Ker-plunk, where everything starts falling into place. Even though I loved what I was doing, I didn’t know why I was doing it. Once I learnt why all these different things were important to me, I started doing more of each of them, and loving them all even more.

Do you love your business?

If you answer YES straight away, that’s fantastic. I’d love to interview you for our #inconversationwith series, so please get in touch.

If you’re wavering, and saying, something like, “well, I think so”, or, “I love this part of it”, or, “I used to love it”, then maybe it’s time to review what you love doing. There’s nothing wrong with reviewing your business (we should do it regularly anyway), and your role within it.

Let’s book a Find Your Why session together, and really get to why you love your business, (or parts of it), so you can move forward with confidence to grow yourself and your business.

Recently I was lucky enough to attend a ‘Find Your Why’ session with TJ. This session is really worth your time for both your business and personal life. In fact what TJ will get to, is what your personal strengths and traits are and how these can be incorporated into a successful business. TJ is an excellent listener, and this is essential to this session. You need to be prepared to ‘go deep,’ tell the stories you really want to tell and watch TJ bring out the main themes and characteristics to help you bring your core values into your work life.
If you feel like you want your business to be a reflection of you, I would advise you invest in the time with TJ and watch how things develop. We have lots of future plans now and I can’t wait to see how these unfold. Finding your ‘why’ with TJ will help motivate and inspire you.

Angie Webb, Glenbreck Health Ltd

N.B. The Find Your Why session is a bonus in our Confident Business Owner programme, for extra value.