We definitely live in a ‘have-it-all’ culture where there are so many opportunities afforded to us and so many things we can do to improve our business, our lives and even our health that we often end up suffering from a sense of FOMO (Fear Of Missing Out), but when it comes to business, how do you know you’re on the right track and aren’t missing out on the latest, best ways of maximising your profits?
In this blog we take a step back from the constant barrage of advice from social media and ask you to check in with the basics of running your business, those initial goals and that drive that got you started on the road to success in the first place. We ask you to ask yourself if you’ve lost track of your vision or if you’re staying true to where you began?
Evaluate your position
It’s time to take a step back and think about where it all began. Have you changed your goals and objectives over the years? Do they need to be re-nosed to accommodate a changing market place and possibly a change in your own market position? One of the problem areas many businesses find themselves in is working towards goals that are unattainable and out of step with the current marketplace and the needs of their customer base.
If you are in need of a little guidance when it comes to goal setting, consider bringing in an outside consultant who will look at your business with a fresh pair of eyes and get your OKRs Performance Management firmly back on track.
Setting new targets is also a sure-fire way of motivating your workforce, if you have one, or giving yourself extra determination if you’re a solopreneur.
Ditch bad habits
In business it’s very easy to pick up bad habits that can hinder rather than help your organisation. If you fail to regularly update your blog or website or have fallen behind in your bookkeeping it can all be part of a slippery slope towards profit loss.
Often these bad habits can be fixed fairly easy and one of the more straightforward ways of doing that is evaluating what your working day looks like and if it means you’re making good use of your time. Instead of taking a firefighting approach and dealing with issues as and when they arise, try and take the surprise element out by creating a weekly routine that covers all the business basics.
You may need to create a written schedule that reminds you when it’s time to perform tasks or invest in some team task sharing software, but start making sure you’re hitting every milestone over the days, weeks and months.
If you feel overwhelmed or that business is getting away from you, don’t try and chase it but instead strip it right back and go back to basics. Get these foundations right and you’ll never feel you’re out of step again.