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Stop, Think, Look Left, Look Right

So, now the Christmas ads are already well into their stride and it won’t be long before the media will start giving us a daily count-down, resulting in the usual panic buying of both gifts and food, as if the shops were shutting for weeks instead of only a day and in some cases, not even that.

We all do know though that time is at a premium with never quite enough hours in the day for many of us to get done what we’d like to get done. Which is why, with the Christmas break in the offing, it’s well worth seeing if we can give ourselves some space for a bit of much-needed thinking time.  

Most of us running our own businesses work pretty hard and consistently throughout the year so it’s probably fair to say, the thought of some time out, interspersed with good food, good company and the odd cracker to be pulled, is very tempting indeed, and so it should be. But that doesn’t mean it’s not worth taking a little time to contemplate the year ahead. Having a think about what your goals might be, deciding the sort of things you’d like to put in place that aren’t there and reviewing things that are there but which aren’t working can be an invaluable exercise. 

Taking a step back to do this is a process that should become a part of your business routine and I would suggest it’s something that should be happening at the end of the year and then perhaps again sometime in the middle. Planning ahead for different strategies or direction isn’t easy when you’re in the midst of handling all the day- to-day stuff. But designating a little time over the Christmas break and also perhaps in the quiet period (should you have one) in the Summer could prove hugely beneficial.  

And as important as operational strategies is the putting in place of sound fact-based financial planning. You should know at all times what’s going out and where it’s going as well as what’s coming in and where that’s going. Being on top of your business is being in control and being in control is a great way to hit the ground running at the beginning of a new year. So my considered advice is stop, look left, look right, think and then move forward.

It only remains for all of us here at Balanced to wish you some wonderfully relaxed holiday time, super celebrations and a happy, healthy and successful New Year.