Getting a handle on your current business situation helps you create a benchmark of where you are right now. From that mark, you get clear about what IS working, and what is NOT working.
It's like losing weight. Once you decide you want to lose weight, you start by weighing yourself. That's your starting point - or benchmark. It gives you an objective, initial measure against which you can track and measure your success. From there you do the work to lose weight - make healthier meals, exercise more, reduce your time in front of the television, and so on.
Now, of course, you can't just place your business on a scale to get a quick and easy measure of your starting point. But you can look at key indicators such as:
- Current Revenue
- Number of active clients
- Number of potential clients
- How you are spending your time
By determining the status of your business NOW, you create a starting point for yourself.
With the start of a new year, now is the time for you to evaluate your current business situation. Take a few moments to evaluate the current state of your business by completing these statements:
With the start of a new year, now is the time for you to evaluate your current business situation. Take a few moments to evaluate the current state of your business by completing these statements:
- My gross revenue for last month was...
- My gross revenue for the past 6 months was...
- The number of active clients is...
- The number of potential clients is...
If there is a different factor you want to measure, include that, as well. For example, if you wanted to lose weight, you are not limited to benchmarking your weight with a scale. You can also benchmark your waist size or the size of your current wardrobe.
Do this exercise at the start of each quarter throughout this year. It will give you a clear picture on your progress with developing your business.
