Is your business bubbling away, as you manage it on a day-to-day basis, paying staff, personally working long hours, and making sure you’re staying on top of things?
Do you ever take time, even if it’s 30 minutes, to shut out the world and think about what you’re doing with your business and where you’re going?
I bet at least once during a random conversation late last year someone close to you mused; “where did 2018 go?” and you nodded in agreement.
This calendar year is well under way. Kids are back at school, we’ve almost forgotten our summer holidays and we all have sunshine envy where we would rather be outdoors on a banana lounge by a pool than indoors behind a desk.
The year is flying by and it might be time to think about what you want to be doing by next Christmas, and not just so that you can come up with a great reply when another person mutters an inane comment about life passing too quickly.
Goal setting can be refreshingly honest. It’s an opportunity to reflect on what you’re currently doing, and question why you’re not moving forward when you think you should be. It’s a chance to set six-month, 12-month, two-year and five-year plans and KPIs along the way.
Goal setting gives you a roadmap and takes you off the daily treadmill. Short-term goals can provide quick wins and make you feel more positive about what you’re doing, and they can often give you an incentive to improve current practices.
Your goal might be to grow revenue by increasing sales to new markets within 12 months, meaning you can employ a new staff member in 18 months when your improved finances allow. A goal could be refreshing your logo, marketing material or website. Post more regularly on social media. Aim to increase clients. Maybe you could attend a networking event each month to make new contacts.
Goal setting could be a catalyst for succession planning. Do you love what you’re doing now, but think you might hand your family business to the next generation in five years? You might want to spend a year or two training a potential leader to take your place.
Our recent the South Australian Business Chamber – William Buck Survey of Business Expectations found 64 per cent of business owners had a loose retirement plan, one that was severely lacking, or none at all. Hopefully you’re in the 36 per cent who had clear retirement financial objectives.
You might have a two-year plan to change jobs. What are you doing to scope the market you work in? Jobs don’t always fall in your lap. Are you networking in your industry? Do you have a wishlist of preferred employers? Have you thought about further study to enable you to change career direction in the future?
Our possibilities are endless, and no-one has a job for life any more. It’s time to think about your business, your opportunities, and how you can make the best out of your working life.
Nikki Govan is chairwoman of the South Australian Business Chamber. Photo of Nikki Govan: The Advertiser
This article was orginally published in The Advertiser Business Journalon Tuesday 26 February 2019.
