As we approach the end of 2021 and prepare to embark on 2022, it is a perfect time for reflection. What have you accomplished in 2021, and how does that compare to what you wanted to achieve? What are your plans for next year? Do you have a clear picture of where you want to go? The time to prepare for 2022 is now.
At this holiday time of year, I feel so grateful for all the people around me and the great things that happened to me this year. Here are some examples:
Family: We were blessed to have had the opportunity to move closer to family, and our family is healthy and happy.
Clients: Our business has a wonderful client base that is focused, successful, and excelling in the growth of their businesses.
Team: The success of our firm is a direct reflection of the quality of our team. I cannot over-emphasize this point: Your business is only as good as the people you have working in it.
Others: This is the catch-all for everyone else who positively impacted me one way or another. Too many to list here!
What, and who, are you grateful for? At this time of year, make sure you let them know. Take some time to really appreciate your success because that is the first step to ensure that more success comes your way.
Action Tip: The numbers tell the story
I like to think of business as a game–something to enjoy and win. Like all games, it is important to keep score to track how you're doing.
As we approach the end of 2021, how do your numbers look? The great thing about numbers is that there is little room for interpretation–they are what they are. So, now is a great time to review and understand the following numbers:
Expenditures by category (marketing, office, advertising, variable costs, fixed costs, and so on)
Average dollar sale
Key conversion percentages (for example: lead-to-prospect and prospect-to-sale)
Understanding these numbers provides the baseline for your budgeting for 2022. From a financial mastery perspective, it is crucial to set up a budget for different expense categories and then track your performance against these budgets.
A business is like a tree: It is either growing or dying (never standing still). Ensure you have the numbers in place for growth in 2022!
Take time to reflect, clarify your goals, and get started in the new year on the right foot. With that, we wish you a wonderful holiday season!
"Only Action gets you closer to your dreams - do something today that your future self will thank you for."