Happy New Year

No, we didn’t skip a few pages on our calendar; we’re celebrating the other new year. There might not be fireworks booming as we bring in another financial year, but that doesn’t mean we can’t celebrate. As you flip your diary to July, embrace a crisp new page and the opportunity to refresh your outlook. It’s time to set some resolutions for the business year to come. 

Embrace the past

As you analyse your financial statements from the past year, take the opportunity to reflect on how you’ve grown as an entrepreneur and business. If you’ve experienced significant growth, firstly congratulations! Go splurge on a bottle of Dom and celebrate the accomplishment. After you’ve nursed your inevitable hangover, figure out the nitty gritty of what fed your growth. Keep doing what you’re doing, plus a little extra to ensure your business booms. If the figures aren’t spelling out the positive growth you expected, don’t beat yourself up, learn from your mistakes. Identifying where your business was at loss and analysing why, ensures you recover and smash your goals in the year to come. Check out our How to make the most of plan B blog for insight into optimism and resilience.

Did you tick your boxes?

While you embrace this moment of reflection, cast your mind back to the last financial year. Now is the perfect time to remember last year’s resolutions and determine whether you achieved them. Did you stick to the path you strategised or was a change of direction taken for the better? Every decision, modified strategy and move you made was essential in building where you’re at now. If you made new goals along the way, recognise them and identify your progress. If you abandoned your original resolution, ask yourself why and was it a move for the better? A lot can happen in a year, so when your path to success changes, ask yourself why?

Defining your new resolutions

We can only live in the past for so long, so once you pin point the source of your triumph and learn valuable lessons from mistakes, move on. It’s time to make new resolutions for the year ahead, so dream big about what you want to achieve. When setting goals, it’s essential to define what you want to achieve. You can simply aspire to increase profit and clients but without isolating a desired result, you’ll be chasing you tail for twelve months. A vague resolution like “I want to make more money” is impossible to track. Outline a realistic, measurable goal like “I want to increase my profit margins by 20% compared to last financial year”. Write it on a post-it and stick it to your desk, scribble it on your wall planner or blow up a banner at Officeworks so you don’t get distracted as the year rolls by.

Every recipe needs a method

If your resolution was to bake a batch of choc-chip cookies, the first step is reading the method. Picture your goals as a mouth-watering biscuit, crafted through wholesome ingredients and planned steps. List activities you and your team can implement to make your dreams a reality. Outline how these activities can become a part of your daily routine and why they will ensure you achieve your goals. Inspire your team by emphasising the benefits of achieving goals and reward them as your business takes leaps forward. Getting your team on board with your strategy ensures maximum energy is fuelling your progress.

Eye on the prize

Too often we set ourselves a new year resolution only to let it drift to the back of our minds. We all get distracted by the hustle and grind of a new year, but if you let another resolution fall to the back burner, you’ll only regret a missed opportunity to grow. As you design a strategy to achieve your resolution, create a schedule that tracks progress. Pop a note in your diary once a month to measure figures and analyse progress. Motivate your staff to power on by rewarding them each time you take a step forward. Implementing these reminders and motivators ensures you stay on ahead in the journey towards success.

No resolution is too big or too small for your business. Whether you’re dreaming of booming financially, tackling a persistent obstacle or conquering new ground, the Wild team can help. We will brainstorm a resolution with you and arm you with the tools you need to make this financial year your best yet. Holla at hey@wildandfree.com.au to get started.