Temperature Check on 2014
OK, we are a few months through 2014. How do your numbers look?
Are you ahead of where you planned from a revenue and profit perspective?
If so, fantastic. The trick is to keep the accelerator on the floor because when you are hot, you are hot.
If you are behind, what changes do you need to put in place today to catch up to where you need to be? Treat this as URGENT. You can’t let too much of the year go by, and get too far behind before you start making changes. The gap can’t be too big to overcome and still hit your goals.
If you are not sure if you are ahead or behind, you have some real work to do. Just sitting back and taking what comes your way is no way to grow a business; at least not the one you dreamed you would have.
There are certain mastery elements that need to be available to every business owner on a consistent basis. Those elements include:
· Revenue—planned vs. actual
· Profits—planned vs. actual
· Cash flow—planned vs. actual (this is a BIG )
· Client acquisition cost—planned vs. actual
· Client retention—planned vs. actual
· Hours worked—planned vs. actual. To clarify, productive hours worked.
· Marketing results—planned vs. actual
Yes, there are a lot of numbers to understand—but numbers are the language of business. So if you are not comfortable with numbers, you need to figure out how to get comfortable with them and fast.
Your clients may love you, and the team may love working for you, but if you don’t know the numbers that drive the business and the business is not making money, you won’t be in business for long. Develop a business dashboard of the key numbers you must know to see that your business is on the rails or in the ditch.
Get started with the changes that need to happen today.
Action Tip of the Day—Reboot
Depending on whether you have a PC or a MAC, you have to reboot it from time to time. When this happens the files get hung up, the internet is slow, whatever the reason you turn it off and start over.
So, how do you reboot yourself? Do any of these things sound familiar:
· You go on a sales call but the person is not there
· You thought you had a sale and they went with someone else
· Your marketing did not get out on time
· An employee called in sick at a crucial time
· A key supplier left you hanging on product you depend on
This happens to all of us—the question is what do you do about it. Do you let it ruin your day and keep you from being productive anyway or do you have a way to reboot yourself and get back in the game? Remember, if you let it ruin your day the only person this impacts is you. So, reboot. For some folks it might be stepping outside for some fresh air, for others a short walk, and depending how bad it is, maybe a 20 minute run. Even your favorite music can help you reboot.
Take Action on this today and then Go Run a Lap!! Business is Fun!