subject: Inspect What You Expect for Your Business [print this page] Inspect What You Expect for Your Business
Your personal checking account has to be balanced. It does not matter if you bank online, utilize Quicken, Quickbooks, or a check register with a pencil. The only way to stay out of trouble is to know how much money is going in vs. how much is going out during a timeframe.
What is the method you have for your business to track anything? Not just the money everything? If it is a project, your finances, customer service, building your website, writing your book, how are you staying on track? Why does this matter? How does it help you and your business? Inspect what you expect if you intend to be successful.
The end of March signals the end of the first quarter of the year. You should have a written agenda, or plan for the year. The results from your first quarter are a really good indication of how you are making out toward achieving your agenda or goals. Take the time to see how you are measuring up.
Are there wide gaps between intentions, expectations and the reality? Are you finding some shocking news in some areas?
Here are a few tips to consider regardless of the nature of your business; whether it is a new business or a more mature one:
Set up weekly or monthly check-ins for various key areas of your business.
At a minimum you should have monthly reporting of your finances.
Any marketing campaigns, ongoing or project oriented should have specific measurement criteria attached to them which you are inspecting.
Track your time and where you are spending it as time is your most precious asset.
Take action by delegating any activities you should not be doing.
This must be stated and may be more important than the tracking itself. What actions will you take to close the gaps you have found? You may need to make some changes. You may need to adjust the exact work you are conducting or producing. This is the true nugget of gold in this activity.
The entire point of creating these habits and techniques is to be able to more rapidly react and adjust as necessary to be more successful. Anyone who has achieved a level of success will say it was not a straight line right to their goal. The path to success is one where you adjust continually until you finally do achieve your goals. It is a critical habit and a necessary habit where consistency and persistency are the key attributes. Inspect what you expect regularly to be successful in your business.
