Control What You Can (and Let Go of Everything Else)

 

It is easy to get caught up in the noise – whispers of a recession, businesses closing, job losses, interest rates ratcheting up. 

Our brains are hard-wired to pay attention (our survival as a species once depended on it) - but all it does is feed the anxiety trolls haunting our sleep. 

You can’t control the noise – it will happen anyway – so take control of the things that will make a difference to your business’s success.

1. Revisit your business plan. 

This is the map that guides you and your business operations over the next two-three years. It includes your destination, how you are going to get there, and the milestones on the way. 

Update it if you need to and then stick to it - refer to it when the noise gets loud. 

2. Keep an eye on the money. 

A monthly review of the business finances and key performance indicators will give you clarity. It will identify any issues so you can deal with them and can also provide reassurance. 

3. Liberate stuck money. 

Most businesses have money stuck in inventory and creditors.

Find it and get it back into your bank account, where it belongs. 

4. Get close to your customers. 

There is always more money on the table with existing customers. Other services they could buy, new services you can develop, referrals, and other businesses idea. Yet too many businesses take their greatest asset – their customers – for granted. 

Get out there, talk with them, understand what’s going on in their world. Invest back into them and it will be repaid many times over. 

5. Who is your sounding board? 

The value of an external coach, mentor, or sounding board is proven.

Successful athletes, senior executives and businesses all have one, even if they keep it a secret. 

Who is yours?