Along with the seasonal change we are heading towards the year end and spend time calculating our Sales, Profits and (maybe) Loss. Those operating with a business mindset, of course, are keeping track of their progress weekly and monthly to avoid any unpleasant surprise at Year End.
It’s hard to believe that July is Here.
Summer Solstice arrived June 21, 2014 at 3:51 A.M. PDT
But it is typically to do a major review in June for most entrepreneurs.
Some questions we usually ask and answers are analyzed thoroughly:
- Is our advertising converting?
- Are sales on track?
- Are profits on track?
- How do we stand compared to our Industry?
- Progress on schedule, New products, etc.?
- Am I staying on focus?
Most small business entrepreneurs are used to “Flying by the Seat of their Pants” and we tend to leave the mundane alone. Checking the metrics involved in our business can help avoid disasters and energize growth. For instance our callers to the Wednesday Night Talk Show, You can Build It, your business usually mention they do SELDOM write thing down, never finished their Written Marketing Plan, or record properly their deductible eligible expenses.
Another area missed by most is the keeping track of their Advertising results, Follow up and Follow Up, regardless the method of securing the lead, they need to be sorted and followed with a well designed Marketing strategy.
The following video is what we have used for year end, but the system applies to review and recalculation.
As I put on this video:
Every year, for past 40 years, I have practiced this simple review of Past performance and draw Plans for the coming New Year. “keeping track” based on History and WRITING down the plan are most effective helping you keep a solid and effective Business Mindset.
To read the full article, click on Are you on Track for 2014?
Share your experiences in the comment section below.