Did running a business last year leave you feeling tired, burnt out, overwhelmed, stressed or even depressed to some extent? Worry not because you are one among many people who felt the same way. Last week I spoke about general decluttering, this week I want to talk about the things we might need to change in our businesses so we don’t get scrambled up. So that our efforts can take some sort of focused direction and we can feel that we are getting somewhere as opposed to running around in circles.
“Challenges will always be there but you can operate in a way that will enable you to better cope with them”
We often run away from this but start by being clear about what worked. It is so easy to blame the economy, government, lack of opportunity and other external factors. It is harder to look at what you did that did not produce the results. To achieve something different you have to change. It may be the way you were marketing, managing your team, budgeting or utilizing resources that did not work. If you sent out one hundred proposals to prospective customers and did not get any response, the answer is not to bombard people with more proposals. Face it. It doesn’t work. Maybe it’s the way you wrote them, who you sent them to or that was simply not the best way to influence that particular person.
List down all the things that didn’t work.
If you stop doing the old stuff, you will have the space to figure out what different things need to be done. Do not try and do everything. You may have a great vision and plan for your business but it will not happen all at the same time. Choose three or four key objectives this year and stick to them. Don’t make this about money. You can get into the trap of doing all sorts of things just to attain a financial goal. Really evaluate what actions are behind those numbers. It could be launching new products or improving an existing one. Create a network in a certain industry, enter into a new market, work on performance incentives for your team. Even as the founder or CEO of the company, you cannot do everything. Be extremely clear about how you will be spending your time this year. Make this a daily or weekly habit. Write down what you intend to accomplish and focus on it.
“Many times we end up doing things in front of us or those that are urgent for other people, at the expense of the important things”
Put the right systems in place. A business is like a car. You see it moving on the road but there are a lot of things behind the scenes that have to be working. The engine, shocks, brakes, lights, and all sorts of mechanisms. Look at everything your business needs to operate. Imagine you were not there. What would fall apart or would be very hard for somebody else to pick up? That points you to the systems that you need. If those proposals would go unwritten, you need to teach somebody to write them. This is irrespective of whether you are currently working alone or have ten or thirty employees. One of the most important systems is financial. Have your money in order. There is no way you can mix your personal finances and business finances and expect to have order. Pay yourself and separate them. When you don’t do this you just become indisciplined with money. The business cannot plan effectively. Keep the records properly. You must be looking at accounting statements for your business at least every month. Some things like cash flow at least weekly. Be compliant and pay those taxes. Watch how you use debt.
Last but not least take time to really rest. A real day off does not entail being on the phone and checking messages every five minutes. Use this time to recharge and refresh your mind. Things don’t have to be perfect for you to deserve this. You just need this to keep going and stay decluttered.
Waceke runs programs on Entrepreneurship and Personal Finance Management. Registration is currently open and ongoing through our website centonomy.com For more information get in touch with her through waceken@centonomy.com /Facebook-Waceke Nduati /Tweet @cekenduati