Stop and take stock! Research shows that it is essential to rest your mind and body. During this rest period, your body is healing, removing toxins, and re-energizing itself as well as a host of other things. As a small business owner, it is crucial to set goals, develop an action plan, and manage your time well. So, it stands to reason that you are busy and constantly doing something to help you achieve your goals, and there is nothing wrong with that. However, you can fall into the trap that your business’s success and goal achievement are at risk if you are not doing something!
Just as your mind and body need time to clean house, so does your business. So, stop and ask yourself two questions.
What is working?
What can I improve?
Let me tell you about a client of mine, Helen.
Helen started a business selling gourmet cupcakes. Lately, she has been extremely busy baking and marketing her business, and she hasn’t had the time to smell the coffee, so to speak. She feels that if she stops for a moment, she will lose ground. So, I arranged to meet with her to take a time-out from her business. Helen was reluctant, but she agreed.
“What is working?” I asked.
“Everything is excellent!” she said with a puzzled look on her face.
“What specifically?” I prodded.
“Based on the financial statements you show me, I am making enough money to pay all my business expenses, and I am achieving my financial goal,” she said.
Then Helen asked me, “What do you think is working?”
“I agree with you, Helen. The business is doing very well, but I realized that most of your sales come from birthday events,” I said.
“Oh, I hadn’t realized that. So, what do you think we should do?” Helen asked.
“I think we should capitalize on it and focus your marketing on birthdays,” I said.
“Yes, you have a point,” Helen said. “I have been too busy to think. My family helps me, but sometimes they are not available,” she added.
“Helen, have you thought about getting an assistant at least part-time?” I asked.
Helen thought for a second and said, “That makes sense because I am sure to burn out at the rate I am going.”
“But I don’t want to share my recipes,” she exclaimed.
“You don’t have to,” I said. “However, your assistant should sign an agreement with confidentiality and non-compete clauses.”
Helen thought, “That can work!”
“Now Helen, let’s think about what can be improved,” I said.
“I am not sure. What do you think?” she said.
“I think we need to create a brand,” I said.
“I have been thinking about that too. In fact, I wanted to talk to you about changing the name of my business from Helen’s Bakeshop to Helen’s Heavenly bites,” she said.
“I love it! You should do it,” I exclaimed.
“Also, you can create interesting names for your cupcakes!” I suggested.
“What do you mean?” Helen asked.
“Like chocolate delight, sinfully good, can’t get enough,” I said.
“Oh, I see what you mean,” Helen said and laughed.
We sat for three hours just having fun brainstorming and produced more great ideas. Helen felt re-energized and told me that she wants to meet at least every two to three months. She also realized that she had come a long way, and it was nice to stop, take stock and be grateful.
So, take some time not only to assess your progress but to celebrate it.
