August 16, 2018
Time for your Annual Checkup
As business owners, we should be in touch with the pulse of our organization. We use metrics to let us know how we are doing. We measure such things as Profit & Loss, productive hours, return rates, turnover and many other indicators of how well the business is doing. Based on these indicators, decisions are made for investments, changes, expansion, growth etc. When the metrics are good then positive actions take place. When the metrics are weak or trending in that direction then we view them as potential symptoms of other issues which need attention and plans to correct.
It all just seems to be part of the natural running of a strong business.
The question then must be asked – why then do so many business owners not take the time to get the same metric input regarding their personal health?
Each year starting in August, many businesses start the annual process of business planning for the upcoming calendar year. They look at the first 7 or 8 months and trend a forecast as to how the business will end up on December 31 of this year. The effort to plan out strategies for 2019 begins with re-evaluating products and services. Possible outside influences of the industry and of competition get factored into the plan and so on. Business plans and strategies emerge into a set of both tactical and strategic actions to bring a defined result to the future of the business. This annual analysis of health checkup takes place and is considered a proactive way to build a stronger organization and profit.
As logical and natural as this set of steps are to the running of the business, the owners or lead resources in the company do not take the same effort or energy to protect one of their most valuable assets –
As critical to building a successful business as having a defined “Promise Culture” where purpose, passion, and promises provide a solid framework to growth, so
This week take the time to schedule your annual physical if you have not already had one in the past 12 months. Yes, it takes a short time away from the business and maybe you really don’t want to hear the doctor say this or that about your health, but it is better to know the indicators of
Although we at JKL Associates are not in the medical profession, we are in the business building arena. Why build it if you can’t enjoy it or perpetuate it into value for your future portfolio. Need help with the business planning portion of building your business? Call us at (313) 527-7945.