Tag Archives | business by design

Business by design: How did yours perform in 2018?

Do you have a business that brought you everything you wanted this year – what we call a business by design?

In terms of how much money it makes you, how much happiness it gives you, and how much time it allows you to do what you want when you want, how has your business performed this year?

December is a good time to reflect on how your business has served you, and decide what you want it to provide for you in the next 12 months.

You may have started your business with definite goals in mind. Despite this, your business may have evolved to this point by default, rather than by design! It’s time to define and focus on your goals, and from this point on create the business you want.

business by design

Where are you now?

As with any journey, you must start where you are. List the following areas of your business and give each a score between 0 (couldn’t be worse) and 10 (couldn’t be better):

  • Money (financial management and profit)
  • People & Culture
  • Systems
  • Marketing
  • Customer Service
  • Sales
  • Operations & Efficiency
  • Overall vision and direction

If each area of your business isn’t exactly as you want it to be, it may be because you’ve lost focus and direction.

Map out a destination

The first step is to decide where you want to be at this time next year. In December 2019, what do you want to be reflecting back on and congratulating yourself for achieving? Reflecting from the future, what profit did you make in 2019? How much time did you have outside the business for yourself, family, friends, vacations and other interests? How much happiness did you get from your business? When you start with the end in mind, it’s easier to map out the way there. If you need inspiration on what you want to achieve, start with why.

Plan your journey

Make a list of all the things you could do to get the results you want. Don’t edit at this stage – just brainstorm. If you want more time for instance, you may need to recruit additional staff, train existing staff, delegate more, and put better systems in place.

If you’d like more profit at the end of next year, you could review expenses, negotiate better deals with suppliers, sell off old stock, and review your pricing.

If team issues have affected you this year, in 2019 you might want to introduce a culture statement, implement performance KPIs, and learn new management skills such as giving feedback and coaching your employees for improved performance.

Plot your milestones

Once you’ve made your list, prioritise your actions and set a date to achieve them. Spread your goals throughout the year, taking into consideration peak times for your business (you don’t want to introduce new technology or systems in the busiest sales month of your year!).

Diarise your actions

Now you know what you want to do and when, put these actions into your calendar or diary. Review it daily to keep on track.

What help do you need?

To achieve a business by design in 2019, you might need new resources. This could include new skills, advice, knowledge and tools. You may also need new ways of thinking about your business, a sounding board, encouragement and support. Accountability will be invaluable to keep you on track and to task.

Assess what resources you already have and how you’ll utilise them. If you need assistance, make a time to find it. Books, podcasts, audios, fellow business leaders, seminars, coaches and mentors are all valuable tools to consider.

Create your business by design for 2019

Yellow Coaching provides consulting, coaching and mentoring to take your business or organisation to the next level. Our coaching is ideal for established businesses that have reached a certain level of growth and success, and are ready for more.

Business mastery and growth may involve improving your business systems, financial controls, people leadership and management, marketing, sales, time and priority management, and thought processes.

Yellow Coaching’s difference is that we work with you and your team to achieve faster results.

We work with business owners who are committed (not merely interested) in achieving more from their business and their life. If you’re committed to having the business you want in 2019, start here.