Small Business Tips: Mid Year Business Review
Small Business Tips: Mid Year Business Review
Mid year is when we are gently encouraged by the tax department/IRS to take stock of our financial situation – what we earned, what we saved, what we invested and where we are now. Accept this gift by the tax dept/IRS and rather than looking at it as a chore, use it for something wonderful – taking stock of your life and not just your income!
How does this work? I suggest this financial year, when you do your tax, take the next step.
1. Stop and closely look at where you are financially.
2. Consider – how am I directly and personally contributing to this by my attitude, skills or approach.
3. Consider what beliefs you may be carrying that are directly creating this financial outcome.
4. Our top 5 personal values are where we focus our money, time and energy. If your family is important to you, then you will spend your time and money on them in preference to other things. If you are not happy with where you are spending your money and your time, what needs to change?
5. Stop and work out your personal and financial goals for the coming financial year using on the “Goals that Work” article to guide you.
6. Write down your goals on your diary or calendar and review them monthly when you review your personal financial situation.
Personal Attitude, Skills and Approach DOES Matter
But I own a business, you may say. How does my personal attitude, skills or approach impact on my business earnings? Up to 80% of any business success is directly attributable to the management team. They are human like all of us, so have strengths and weaknesses. If you are part of the management team or the owner, your individual strengths or weaknesses reflect in your business. For example:
• You may be a great visionary, with amazing dreams. However, you may not be good with the day to day detail of bills/invoices and internal administrative processes. You create grand plans for expansion while the current business slowly falls apart at the foundations due to poor internal controls.
• You may be great at the day to day business of the business, but have no spark for the future. You will never reach the full potential of the business.
• You may be great at delivering outcomes, but a terrible manager of people. Your business will see high turnover, low morale and people not performing to their potential – all at a cost to the profitability of the business.
• You may create fantastic products, but not be a great communicator or not be willing to stand up and be “visible” to stakeholders, so your products gather dust or new clients are slow to come into the business.
This also applies if you work for other people. Even if you are a paid employee, you still also work for a company called “Me Inc”. How successful Me Inc is, depends on you and your attitude, skills or approach to your job.
• You may be great at initiating projects, but not so great at following through on the details or completing the task. Where else do you fail to complete in your life?
• You may be happy to go to work, doing your 8 hours and just getting paid, and living only for weekends. You are only going through the motions, not living your passion or your dream. Weekends are only 2 days out of 7 – what a hard, dry life for the most part!
• You may get things done, but no one in the team likes you or wants to work with you, so you get the projects that no-one likes or you only work on your own.
So, if you want to change your outcomes, you may need to change your personal attitude, skills and approach.
Beliefs
Your financial situation also is linked to your personal beliefs. If you believe it is better to give than receive, money will go out faster than come in. If you believe that to be spiritual you need to be poor – guess what you create.
To check out some of your beliefs on wealth – write down as many things you can think of in relation to the following:
Rich people are ….
Rich people never ….
Rich people always …
Money can …
Money can’t …
Next go through each one and see if this is true 100% of the time. Counter all negative beliefs with at least 3 situations where this has not held true in your life or in the life of others.
Finally work out belief you want to adopt in relation to wealth and then convert it to an affirmation and use it regularly this financial year to shift your beliefs
Small Business Tips Mid Year Business Review - To learn more about this author, visit Ingrid Cliff's Website.
Like this article? Share it with your friends
I love the end of the financial year and that is not because I spent so many years at the Treasury Department! In January we set New Year’s resolutions but we often set them without clear indicators of success. If this is you, consider that money is one very tangible indicator of success - it is by no means the only indicator, but it is an easy one to measure. Where you are financially is a direct result of where you are emotionally, physically and spiritually.
Mid year is when we are gently encouraged by the tax department/IRS to take stock of our financial situation – what we earned, what we saved, what we invested and where we are now. Accept this gift by the tax dept/IRS and rather than looking at it as a chore, use it for something wonderful – taking stock of your life and not just your income!
How does this work? I suggest this financial year, when you do your tax, take the next step.
1. Stop and closely look at where you are financially.
2. Consider – how am I directly and personally contributing to this by my attitude, skills or approach.
3. Consider what beliefs you may be carrying that are directly creating this financial outcome.
4. Our top 5 personal values are where we focus our money, time and energy. If your family is important to you, then you will spend your time and money on them in preference to other things. If you are not happy with where you are spending your money and your time, what needs to change?
5. Stop and work out your personal and financial goals for the coming financial year using on the “Goals that Work” article to guide you.
6. Write down your goals on your diary or calendar and review them monthly when you review your personal financial situation.
Personal Attitude, Skills and Approach DOES Matter
But I own a business, you may say. How does my personal attitude, skills or approach impact on my business earnings? Up to 80% of any business success is directly attributable to the management team. They are human like all of us, so have strengths and weaknesses. If you are part of the management team or the owner, your individual strengths or weaknesses reflect in your business. For example:
• You may be a great visionary, with amazing dreams. However, you may not be good with the day to day detail of bills/invoices and internal administrative processes. You create grand plans for expansion while the current business slowly falls apart at the foundations due to poor internal controls.
• You may be great at the day to day business of the business, but have no spark for the future. You will never reach the full potential of the business.
• You may be great at delivering outcomes, but a terrible manager of people. Your business will see high turnover, low morale and people not performing to their potential – all at a cost to the profitability of the business.
• You may create fantastic products, but not be a great communicator or not be willing to stand up and be “visible” to stakeholders, so your products gather dust or new clients are slow to come into the business.
This also applies if you work for other people. Even if you are a paid employee, you still also work for a company called “Me Inc”. How successful Me Inc is, depends on you and your attitude, skills or approach to your job.
• You may be great at initiating projects, but not so great at following through on the details or completing the task. Where else do you fail to complete in your life?
• You may be happy to go to work, doing your 8 hours and just getting paid, and living only for weekends. You are only going through the motions, not living your passion or your dream. Weekends are only 2 days out of 7 – what a hard, dry life for the most part!
• You may get things done, but no one in the team likes you or wants to work with you, so you get the projects that no-one likes or you only work on your own.
So, if you want to change your outcomes, you may need to change your personal attitude, skills and approach.
Beliefs
Your financial situation also is linked to your personal beliefs. If you believe it is better to give than receive, money will go out faster than come in. If you believe that to be spiritual you need to be poor – guess what you create.
To check out some of your beliefs on wealth – write down as many things you can think of in relation to the following:
Rich people are ….
Rich people never ….
Rich people always …
Money can …
Money can’t …
Next go through each one and see if this is true 100% of the time. Counter all negative beliefs with at least 3 situations where this has not held true in your life or in the life of others.
Finally work out belief you want to adopt in relation to wealth and then convert it to an affirmation and use it regularly this financial year to shift your beliefs
Small Business Tips Mid Year Business Review - To learn more about this author, visit Ingrid Cliff's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
|||
George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Ingrid's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Super Productivity Make It Happen Life Purpose Business Checkup Relational Software |
|
 | ||
 |
Top 50 Franchising Blogs
Top 50 Franchising Blogs | |
 |
Top 50 Diversion Blogs
Top Diversion Blogs of 2009 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
