By: Sonia Gibson, Director at Accounting Heart Chartered Accountants
Have you found yourself caught up by the day-to-day tasks and lost connection with your purpose? It’s one of the most common stories of our time; entrepreneurs enter the business world with fire in their veins but eventually become worn down, just trying to make it to the end of the day, and the end of the day hardly ever arrives at a predictable time. By working on the four pillars that support that beating heart of your business, you can reignite the passion you had when you started out.
- Connect to your business purpose
The first pillar that supports the heart of your business is to feel connected with your business’s purpose. When you started your business, you had a goal, a purpose, something that called for more of you than a typical 9-5 job. You stepped away from that secure and reliable salary and took a leap that called for bravery. Why did you do it? What was your goal? This answer is unique to you so ponder it deeply. For some, it is because they wanted more control over their schedules, for others it is because they wanted to do more than one job description would allow. Redefine your values by writing down what matters to you. Your values may have changed since you first started your business and that is fine too. It is imperative that you pin down your WHY for being in business, making sure you cast away any perceived expectation from society/friends/family and focus on what you truly want.
- The importance of self-care
Yep, it really is all about you! You are the heart of your business. If you feel tapped out and exhausted, the heart of your business will lack fuel and energy. The same goes for feeling overwhelmed, uninspired, and even bored! It’s okay to say it if you feel it. Once you say it, you can address it. If you are tapped out and overwhelmed, develop a strategy for delegating tasks that clog up your to-do list. If you’re overwhelmed, meet with an experienced professional who can help you to organise your tasks, outsource or learn how to handle the aspects of business that fall outside of your area of skill. As part of self-care, remember that rest is part of being productive. In the same way that you can’t use a laptop that hasn’t been charged, you, too, need to recharge – this includes both leisure time and sleep, not one OR the other.
- Creating a strategic plan
This is your roadmap to success and follows on as a logical next step after reconnecting with your business. Developing a set of values and goals that will reconnect you with your WHY sets the direction you’re going to move in. Break each goal into smaller goals or steps. Remember that your goal should be action, not a result. For example, instead of aiming to sign on 5 new clients in a week, decide how many phone calls you need to make to achieve that. Your goal is to complete those phone calls. If you don’t manage to sign on the necessary number of new clients but you have achieved your phone calls goal, re-evaluate your goal and adjust it. This keeps your mindset positive and motivated because you haven’t failed, you’re simply trying different strategies and you’re staying focused on taking action.
- Use your numbers to support your growth
In business, numbers are everything. You need to know what your overheads are and what your assets are. You need to know what you’re contributing to tax on every single sale you make. It’s non-stop and this is the nature of being in business. If you can clearly define exactly where you stand financially, by reviewing each of the above (income versus expenses and tax) you can manage your cash flow better and make your budgets stretch further, enabling you to put more into your branding, marketing, and growth development. Speak to an accountant about this, accountants are not only there for businesses during tax season, your accountant is also your partner in growth and budget planning.
ABOUT THE AUTHOR
Sonia Gibson, Director at Accounting Heart Chartered Accountants
Sonia has always loved solving puzzles and empowering people to help themselves. Accounting Heart brings these two passions of hers – her head and heart – together.
While figures might send you batty, to Sonia they tell the unique story of your business. It’s her role to translate that story into one you’ll understand so you can then write it your own way.