by: Bill Ringle
In our last year-end review session, we plotted your past client projects on a revenue vs. fun matrix. I hope you enjoyed that exercise!
Periodically, it’s important to take stock of the ways in which your company has grown and developed in terms of its capabilities. It’s not just about the eggs the goose has produced; it’s also looking at the larger environment or the whole farm. Though there are dozens of factors to consider in each business, here are seven key areas to consider in this session:
1. Core competency skills; How have you developed in your career field?
2. Business development; What techniques and systems have you found to work well?
3. New offerings; What products and services are you offering now that weren’t available a year ago?
4. New internal capacities; In what ways has your team grown? What new systems are in place to make operations flow smoother on a consistent basis?
5. New technology; Have you upgraded systems, software, servers, or networks? Have you started using new tools or accessing information in new ways?
6. Community enhancements; How have you contributed to your community through sponsorship or volunteer work?
7. Body of work; What articles, booklets, books, websites, audio programs, learning systems, etc have you created to educate your prospects and clients? Continue adding to the list ways that your company has grown as a result of your decisions and actions.
Not every entrepreneur consciously puts energy into each of these areas each year. And unfortunately, that’s one of the reasons that so many start-up businesses fail to grow and prosper.
Certainly, having accomplishments in each of these areas each year isn’t mandatory to grow. With your business coach or other trusted advisor, determine which ones make the most sense for the current stage of your business and where you want to grow in the coming year. Those are decisions you make.
Because you’re serious about building a stronger business, you can look back on your efforts in these areas and feel a sense of satisfaction and pride over what you’ve accomplished and how you’ve grown.
Bill Ringle is a CEO, former Apple exec, published author, and angel investor. Through Grow Business Now, he offers strategies and tools to elevate growth for executives and entrepreneurs from more than 46 industries. Bill has conducted nearly 200 podcast interviews on My Quest for the Best, where industry and business leaders share their secrets to success.