- Know your numbers
Most of us are in business for the things we are good at. A lot of the time the numbers aren’t one of those things, but that doesn’t mean you should forget all about them. Every week or at least once a month, check out your sales, your profits, and your cash flow (money in the bank).
- Are the figures high, low or the same as last month?
- Ask yourself why?
- What happened that made that go up or down?
- What lessons can you learn from the month?
- Then repeat next month/week!
If you don’t know your numbers, ASK! An accountant is a great person to get this information from, but make sure they explain it in terms you understand, and don’t be embarrassed to keep asking if you don’t know! A good accountant can translate this simply!
- Set Goals
Going through life aimlessly might be good if you’re on vacation, but having goals in business will keep you moving forward. You may not hit them the first time, or the second or third, but don’t give up! Reassess your goals and why you did or didn’t achieve it, and reset the goal. Revisit your goals daily, weekly and monthly. Reaching your goals will inspire you to keep moving forward.
Develop a growth mindset
A business will grow - if you can grow! As your small business grows, things get tougher, there are challenges and fires to put out at every corner. You can let the challenges be overwhelming or they can be an opportunity to smash a new and exciting path for yourself and your business. Be open to developing yourself as much as your business!
Get a mentor
If you want to move forward in a bigger and better direction, look for a mentor. Choose someone who you can look up to in your business. Someone who will guide you in a positive direction, support you and also help you develop solutions to things they would have seen before.
- Take a break
Running a small business is hard work. Getting time away, taking a break and getting some time away is the best way to boost motivation and get clarity over your way forward! Make time away from the business a priority!