As the personal tax year draws to a close, it is a good time to reflect on your business results for the year compared to your expected results. Some businesses have a detailed budget and other more simplified businesses just have a desired earnings figure but most will have some measures of success.
Do you have a feel of whether the business met your objectives for the year? This will be from a financial perspective but also a lifestyle perspective. I invite you to join me on a review of the past year in considering the following question:
Did I get sufficient reward from my business last year in return for the investment of time, energy and emotion that I put in?
If the answer to the above question is yes, then take some time out to celebrate with your loved ones or your team. Note the reasons for your success; was it down to planning or luck? Is there someone that you need to thank for their contribution?
Regardless of the answer, it may be useful to dig a little deeper to understand why to ensure that the answer at the end of the coming year is yes!
In analysing my own results and considering those of my clients, there are some common themes I have observed that underpin achievements. I will be considering each of these over the course of the next 4 blog posts:
- Optimism in forecasting
- Cost control in the light of actual results
- The ‘lie of busyness’ – working harder not smarter
- Stuff happens
I’d love to hear back from you on your answer to the question above and your thoughts on this blog series (a completely new thing for Belsoft!), so please email to firstname.lastname@example.org any comments you may have.