As we head into the new year, we’re sure you’ll be taking stock of the year that was, and looking to the year ahead with excitement and anticipation – or perhaps even fear and anxiety. Here are 8 things our business coaches believe you need to focus on to make 2018 a success for yourself and your business.
- Dream and envision the future you desire and the possibilities available to you
If the founder of the LEGO Group, Ole Kirk Christiansen could build a globally loved and recognised brand from humble beginnings and life-altering tragedies – you certainly can too. So, use this downtime to rest and explore new possibilities. Put aside all the disappointments and failures you’ve experienced and start afresh, focusing on the successes that you desire going forward.
- Evaluate where you are spending time in your business
As you and your business grow, there are always areas that need to be delegated to free up time to take on this new growth. Should you move away from the operational aspects of the business to being more responsible for long-term strategy and relationship building? Are you even the right person to be leading the business into the future, or should you delegate this to someone else? We recommended a book called “The Second Decision” by Randy Nelson, which can help you determine what role you need to play in your organisation’s future – you don’t always have to be the CEO.
- Check your health and make adjustments
Did you find yourself sacrificing profits for health this year? Remember that healthy businesses need healthy owners, so evaluate how you can spend more time in self-care on a more frequent basis. Find ways of managing your time better so that you can attend to your mental, physical, spiritual and emotional needs.
- Get the right support to take your business further
Microsoft Founder, Bill Gates and Former Google CEO, Eric Schmidt said it best in this video – “Everyone needs a coach.” Business owners often feel compelled to handle everything themselves and to “have it all together”, but some support can go a long way. Consider getting a reputable business coach to help you see yourself and your business from an outsider’s perspective. Coaches can often offer you a refreshing view of things and can help inject some much-needed energy and direction into your life and business.
- Make sure your financial affairs are in order
This is often neglected in a busy year, but it’s it goes without saying that it is incredibly important. Review your personal investments and wills and make sure they align with your current life situation and future plans. For your business, decide that 2018 will be the year where you get a deeper understanding of your numbers and what they tell you about the health of your business. We’re not just referring to the bottom line of revenues and profits, but determine if you have the right accountant, & understand the 7 key financial levers that affect your cash flow.
- Make a commitment to improving yourself
It’s easy to get stuck in “how it’s always been done” – especially if you are very good at what you do. But very good isn’t always good enough. Even professional athletes train and practice regularly to ensure they are always in peak condition. Commit to improving yourself by reading more often to open yourself up to new ideas and ways of thinking. Have a look at this list of 10 books we recommend for business owners to read over the holidays. Improving your ability to listen can also go a long way. Commit to listening deeply to your colleagues & staff members – you will certainly discover some very valuable insights.
7. The strength of your team can either make or break your business. Check the health of your team against the Five Dysfunctions (see diagram below) and make adjustments to ensure any areas of dysfunction are addressed in the new year. There are many factors that give rise to team dysfunctions – one of which could be a lack of true, lasting motivation, which you can learn more about how to address here.
5 Dysfunctions of Team – Source: Table Group
8. Enjoy the year ahead and find the fun(ny) in everything you do!
We hope that you apply these points in your life because doing so certainly positions you well for the year ahead. Happy Holidays! May you return to work refreshed and ready to gear up your business for scale in the new year.
P.S. We’d love to meet you in 2018!
We’ll be hosting a complimentary business growth workshop in February 2018. If you’re interested in attending and meeting our internationally-certified coaches, register today! It’s also a great opportunity to learn and network with like-minded business owners that will be attending, so make sure you don’t miss out.