A Useful Exercise to Complete Before Christmas
Before winding down for Christmas it’s good to carry out a brief review of our year. Here are a few questions you may find useful. You may want to incorporate some of them into your final team meeting of the year.
What are your highlights from 2017?
These might be things that went particularly well, things you really appreciated, things you’re really grateful for, things you learnt, new things you did, things that you did as a team or a family, occasions where you saw someone else progress or have a breakthrough, they might be big things or small things, etc.
For each highlight:
1. Why did this good thing happen?
2. What did it mean to you personally?
3. How can you have more of this good thing?
This little exercise will leave you – and your team – in a good mood. They’ll be thinking positively and creatively about how they can make those good things grow. A positive way to end the year and fertilise the ground for a prosperous 2018.
It might also be good to do a business review too. I’ve listed a few questions below that may help you structure that review. If you can’t answer some or any of those questions, that’s fine. Perhaps treat this as a prompt to start collecting this information for next year – but start collecting it now.
Depending on your business you’ll need to adapt the questions.
(a piece of business could be a client assignment, a product sale, a service sale – whatever your meaningful unit of sale is.)
- How many pieces of business have you delivered this year?
- What was the gross profit contribution of each piece of business?
- Out of 10, how much did you enjoy working on each of those pieces of business? Why?
- What was the enquiry source of each piece of business?
- What other qualified pieces of business were you pitching for that you didn’t win?
- What was the likely value (gross profit contribution) of these pieces of business?
- What was the enquiry source of these pieces of business?
- Therefore, what was your conversion rate in terms of numbers and, more importantly, profit contribution £.
- What was your best enquiry source? How can you leverage this even more next year?
Your answers to these questions will give you insights into where to focus your attention next year. It will also fire your imagination. And if your biggest insight is I need to start measuring this stuff! that’s a great observation. If you did nothing else apart from just capturing this data your business performance will improve – guaranteed!
One of the unexpected benefits of our planning workshops is the realisation that there are other people who can’t answer all these questions. As business owners we tend to display a veneer that says we’ve got it sorted. When someone else shares that they don’t actually know what their conversion rate is, it’s a huge relief to us. We can stop pretending, admit there are things we’ve not got sorted and actually get on and do something about it. When we act superior and put ourselves on a pedestal we tend to build a gulf between ourselves and other people. When we’re humble, honest and put ourselves on a level we build a bridge to those people.
Have you got it all sorted? Have you stopped needing to learn and improve? Have you reached your potential? Or have you got more to learn and more to give? Our planning workshops tend to attract people who want to improve, grow and get even better.
WHAT: ‘Develop Your Business’ Planning Workshop
WHO: Directors, Executives & Business Owners
WHY: Planning Delivers Better Results
WHEN: Friday 12th January 2018 8:30am – 4:00pm
WHERE: Altrincham Town Hall
INVESTMENT: £225 & £75 for a colleague all +vat
HOW: Simply email email@example.com