By Lisa Blankman, CPA
Manager, Audit & Assurance Services
Right now is the time business guru Michael Gerber would tell you to “work on your business, not just in your business.” We’re still navigating the new year, so the time is ripe for reinvention.
First, step back and take a bird’s-eye view of your business. How’s it holding up, and is it sturdy enough to venture out into this year’s market? As you reflect on your company’s condition, you should also ponder whether the past drivers of success hold the same potential they did a few years ago. Should their place in your planning remain? Are any of them falling short? Do they require some re-engineering?
Maybe it’s time to add vehicles that could steer you toward success. Look at Chipotle, which opened its 100th “Chipotlane” last summer. Adding these drive-thru digital order pick-up lanes not only increased sales and efficiency but also created 10,000 new jobs.
Don’t let routine get in the way of forward thinking. Schedule a specific time on your calendar each week to take your mind off your daily tasks and think about the other potential success drivers of your business. Which ones are steering you toward your goals? These success drivers could be your employees — their work ethic, talents and skillsets, the management team — the leadership they provide in the many facets of your business, or your offering of products and services. The list goes on and on. Determine which current drivers deserve the most investment of resources as well as new ones that have less potential for the results you seek.
Remember that you’re not alone in your mission. Business owners who find themselves stuck behind their desks are the ones who shoulder too much responsibility and don’t depend on other forces to help drive the business toward success. Encourage your team members to identify the company’s best success drivers and think of new ones.
By stepping back on a regular basis and enabling yourself to analyze your business away from day-to-day distractions, that will allow you to see more clearly a better path forward. And therein lies the success you seek!