The Powerful Impact of Monthly Business Reviews
As small business owners and entrepreneurs, our time is precious. We are responsible for so many aspects of our business it can be challenging to stay on top of it all. We are very protective of our time and selective about anything new that demands a sliver of it. This is good!
I am adamant about making time for monthly business reviews. This means I schedule it into my calendar as a monthly appointment I have to keep for myself.
Why I Choose To Make Time For Monthly Business Reviews
- It allows me to assess gaps in my business.
- How can I make that process easier for my clients or myself?
- Why do I not get the results that I want and what can I do differently?
- It allows me to plan ahead instead of being reactionary.
- To stay in alignment with my vision and the direction of my business. It is easy to get caught up in the “newest opportunities” and let them derail you when you do not have a plan to guide you.
- When I have a plan I can get things done in advance or move things around to accommodate for unexpected life occurrences. It allows me to be the driver of my business instead of the passenger.
Many times we look for external solutions such as a new website, rebranding, advertising, etc. These are valid when they are actually justified. However, many times the answer to our business challenges is right in front of us and requires us to work harder and smarter. When we look internally (business reviews) for solutions it allows us to make smarter choices that save us money and time.
Business Health Check-Up
I realize business reviews are tedious and can be boring because they require us to be still and reflective. I believe this is even more challenging when we have a million things demanding our attention including all the red notification bubbles on your phone or desktop.
Business reviews require us to be disciplined with our time. It is the same as making time for the gym or a health physical. We do not always want to go. There are a million other things we could be doing with our time. We go because we know we have to take care of ourselves in order to be healthy and available to our loved ones. The same goes for our business. Monthly business check-ups are critical so we can take care of our business, clients, and team well.
The reviews create a baseline of our performance. Yes, you may know a lot of the answers in your head, but without writing them down it is hard to track your progress and make educated decisions to refine your business. If we are not measuring our progress each month then we are spinning our wheels doing the same thing over and over again. In order to move forward, we have to set specific detailed goals so we know whether we exceeded, met, or fell short of our goal. Knowing where we stand allows us to make smarter choices on our next course of action. We apply the same analysis to our diet and finances, why not our business?
Completing the business reviews allow us to have intentional discussions at our Masterminds. They allow us to talk about our real challenges that we need help with instead of the last minute shallow fill-in-the-blank because I have to show up and participate. A shallow request does not help you in your business nor does it allow others to help you well. It is really hard to connect with others and for them to feel valued as part of the conversation when we do not give them an opportunity to help and contribute. I believe we have all been in those spaces before and felt similarly.
I am passionate about the monthly business reviews because I know the powerful impact they can have on your business when completed thoughtfully and thoroughly. I know you are capable of excellence in your business and am holding you accountable!