Missed your EOFY year targets? Here are the top three reasons why!
Just recently we put out an extensive market survey asking business owners how happy they were about their performance over the past financial year. Out of all the participants, the average score was a 5 out of 10… with 10 being highly satisfied.
As I was looking at the results from our survey, I couldn’t help get a feeling of dissatisfaction from our participants. Most of them were very quick to tell us where they went wrong. Whether it was their sales, marketing or mindset, a lot of these different problems all stem from the same three reasons.
- Failure to set outcomes.
- No strategy to execute and achieve set outcomes.
- You are focusing on the battle not the war.
Now let’s dive into them in a little more detail…
Failure to set outcomes
As business owners, we just want to be taking action and hustling as much as we can. This means without proper planning we can take a lot of action without purpose.
It is paramount to set aside a day or two (depending on how big your company is) and plan out where you want to go and how you are going to get there.
You need to have to have a think about where you want to go, without limits and then make a plan to get there. Set a goal for the next months and crush it!
No strategy to execute and achieve set outcomes
Not too long ago my attitude was; ‘screw planning, I know I want to grow my business and to do that I need customers, so then I will get more customers.’ I would bet money on guessing 80% of the people that read this blog would have a similar attitude.
While I do see where you are coming from, it is important for you to realise that without a plan you cannot distinguish whether business opportunities are opportunities and not distractions. As a result, you have no decision-making criteria, and you are mostly making it up as you go along.
I also need to mention that is this attitude is a HUGE mistake when you have a team behind you. Your staff need to know where you are sailing the ship to.
You are focusing on the battle not the war
For this last point, I want to elaborate on something I mentioned just before.
Without a plan, you have no decision-making criteria.
Without a grand plan, you can potentially be crippled by the decisions you make now… because six months down the track you may have changed focus and put a new plan together.
A classic example of this is business owners doing anything they can to get money through the door. Business coaches coach anyone; construction companies build anything and gyms train anyone.
Once you are known for doing everything for anyone – or nothing for no one – you label your business as a commodity.
If your business is in this position and you decide to get out of it, you are going to have to fight much, much harder to get out. This situation could be completely avoided if you had sat down and planned out a roadmap of what you where you want to be and how you are going to get there.
To help you with this financial year, we have put together a questionnaire that will help you identify what you need to work on the most to surpass last year’s results. If you are serious about taking your business to the next level, this questionnaire will be a no-brainer for you.
It’s totally free to download – just click here to get your copy.
Well, that is us for today, I hope you enjoyed this post.
Have a great week and keep on grinding!
P.S – If you are serious about improving on last year’s results, and you really want to pull back the curtain to reveal what is holding your business back for FREE… you need to address the questions in this questionnaire. Click here to get it now.
Tags: Business Strategy EOFY finance planning