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By Suzanne Chadwick
It’s the beginning of a new year and just like everyone else, I’m sure you’re in full swing planning mode. But before you grab your stack of post-it notes and oversize beautiful wall calendars (you know you love them) there are a few key questions that are well worth asking yourself BEFORE you start your new year business planning.
We rush head first into the fresh new year, wide eyed and bushy tailed, ready to take on the world, without going through what's happened in the last 12 months. Now I'm not talking about just thinking “yeah last year was good, cheers to that”, but really looking closely at the nitty gritty of everything that happened.
Let’s actually dive in and answer some key questions shall we?
Grab some paper and answer some of these questions for me. When were the busy times of the year for you? Perhaps your business is seasonal and even if it's not – was launching that product in January last year a good idea after everyone was in the Christmas cash hole? What products and services did well for you? Not just what you liked but what worked? What did your clients love? What sold like hot cakes? What did you feel truly aligned with and in your zone of genius? Did you start things that you never finished and they are still sitting in the ‘to do' pile?
Take stock of what you were providing for clients and how they responded. Review your client feedback forms and think about what you could have done better as well as what was great. So many times we get this great information and then just leave it sitting – well wherever it is you leave it sitting.
How much money did you make and how much did you spend? Sounds simple doesn't it? But do you know the answer?
At the end of last year we sat down and listed out all of the different events we ran, all of the products and services that were provided, what was a hit and what was a flop (and believe me, there were some flops)! Just because you don't see something, doesn't mean it didn't happen. I looked at what really made me happy last year as well. We ran events, created our new membership academy, ran an ecourse, held a conference, hired new team members and a lot more. In fact there was probably too much. Doing a full review – which took a fair bit of time, it showed me what I need to focus on and what I needed to ditch. I can't plan for the new year without knowing all of this and really spending time “in it”.
Now I'm not trying to be a negative Nelly here – honest! BUT, this can be one of the best planning tools if you use it in the right way.
Think about what didn't really work for you. What were those things and why?
Was there not enough time? Was it that it didn't really work out how you had planned? Is there a way that you could make it better or do you need to scrap things in your business?
Understanding why things didn’t go the way you had planned and don’t be shy to really dig deep to see if it was you or whether there were other factors that contributed to things not going to plan. Looking at what didn't work is just as important as what did work, so that you can focus your energy on the things that matter. I’m also going to tell you that it’s okay if you give yourself permission to say NO to thing that didn’t work last year. It’s fine to try things out, and it’s just as okay for you say – “you know something, I’m not going to do that anymore!” Make an informed decision and go with what works rather that what you think you ‘should’ be doing. We'll be running less of the events we've always run and we'll be trying new things this year and we'll see how that goes! Exciting if you ask me!
Dum, dum – dummmmm – everyone loves numbers right? (don't stop reading!! I promise it worth it) If I asked you how much does it cost to run your business every month could you tell me? I'm talking email management, advertising, marketing, social media, tech platforms, training, memberships, events etc.
Where did the money go – was it of benefit? How much did you reinvest back into your business? Did you pay yourself? Did you have the support you needed? Did you try something that worked or maybe it didn't work and what did that cost?
Really knowing your numbers gives you the power to make good decisions. I check my Xero every other day as well as my bank account so that I know exactly what is going in and out. Remember the saying what you focus on expands. So I'm hoping that by looking at my account everyday is going to make it grow! There is method in my madness.
By knowing your budget and allocation, you are allowing yourself to play a bigger game and make informed monetary decisions for this new business year. These decisions may even allow you to shift the allocation of resources, so you can execute on the things you really want to.
Run your Business like a business, and not like a self-validation tool and by understanding these numbers you can now focus on the following concept of happiness in your team.
The people we work with can make or break how much we enjoy the work we do. Think about the clients who made your day! Where did they come from (what channels so that you can revisit those). What made them great clients? If you worked with people that you didn't love working with, what was it about them that made you feel that way?
Asking questions allows you to go back to where they came from, and continue to find ideal clients and dip further into the pool. Take a look at the clients that light you up, where they came from and what made them so amazing. I love doers and action takers, and clients that are positive and reliable who absolutely kill it in the game that they play. Continue to seek out your ideal client, and learn how to avoid those clients who you wouldn’t work with based on your experience last year.
This is one of my favorite questions – Who were the people that made you feel happy, empowered, creative, ‘on'? Who were the people who encouraged, supported and lifted you up? What groups did you feel connected to? How can you keep more of that in your life and connect in person with people that light you up and help you achieve what you want to achieve?
Be deliberate in the friendships that you build. As they say, you are the sum of the five people you spend the most time with. So be around people who help you be positive, productive, passionate and prosperous. This year continue to keep these people in your life, because those positive people around you affect the energy you bring to your business. I would even encourage – right after you finish reading this to send a message or pick up the phone and invite someone out to dinner or lunch that you want to build a better relationship with – go on!!!
Yes, you still need to be self motivated and execute on your own tasks but it's always more fun with great people around you.
Now here one of my favorite questions. Are you ready for it? What do you wish you had done more of last year and what held you back?
I'm just going to let that question sit for a moment. What do you wish you had done more of last year and what held you back?
Taking time to really look at this question and be as honest as you can…. and I'm not talking excuses, I'm talking really thinking about whether you gave it your all or whether you just kind of half assed it is what's going to help you really take a big step forward in the next 12 months. I work with clients all the time where at the end of the day, it's their own lack of confidence, clarity and focus that holds them back. They have the skills to do the job, they think they are doing everything they are supposed to be doing, but in the end things aren't going exactly as planned. It's when we look at what is holding us back, what we should be doing more of but we're scared to do it or we're not sure where to start, that we can start to shift our mindset, our behaviours and then our results.
Think about how you can connect with more clients, share your message, deliver great outcomes. What do you need to do to achieve that?
A review of last year, means going deep into every action you took. For us visibility wasn’t an issue but having too much on our plate was, so this year in The Connection Exchange we're all about consolidation and simplification. We've just invested in a new platform that will bring everything we've ever created into one place that is easily accessible for our clients and community. Reviewing last year helped me see that it was needed.
Culling the right things in your business means you can plan to play a bigger game and do the things you really want to do.
What will you be keeping and culling in your business this year?
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