Reflect & Revamp – Part I
It’s that time of the year when we reflect on the year and celebrate with our colleagues, friends and family at various holiday parties. In business, this is when many activities shut down and begin to wind down and sales are at its lowest. The Black Friday sales came and went, and so did the Cyber Monday rush. The Christmas sales are now over and commerce is now at its slowest with people already having gone on their shopping spree for the holidays.
This is also that time when we re-evaluate ourselves, personally. We start to reflect and make our new year’s resolutions. How intricately related is your personal life with your business? Is it possible for you to reflect on your business for 2017 without reflecting on your personal habits and choices? The answer should be a unanimous “NO.” Those who believe otherwise are either in denial or have not reached their realization yet.
Often, we realize how closely related our personal and business lives are because the choices we make in our personal lives almost always transfer directly into our businesses. How we show up in our personal life is almost always indicative of how we show up in our business life.
Here are the top 3 tips to reflect on the 2017 year with intention and focus so we can properly get ready to revamp our personal and business life for the upcoming New Year in 2018.
TIP 1: Revisit your people; your team is the foundation of your business
There is an undeniable common thread amongst many successful business people I have encountered in my life. They all value their team and know with absolutely conviction that the number 1 rule of any successful business is the people and they operate from that strong foundation. This is executive coaching 101 yet so many CEO’s and entrepreneurs seem to forget this.
The golden rule of business is to recruit the right talent, with great morals, character and talent, and treat them well and compensate them sufficiently so that they feel their value that they deliver is being appreciated and respected.
As mentioned in my previous blogs, this is even more prevalent with our biggest workforce: the Millennials. This importance will be heightened even more when generation Z begin to enter the workforce.
One of my personal golden rule is to organically recruit the leaders of my team. No indeed ads, no going into LinkedIn profiles. Though I am a millennial business woman, I am a bit old school when it comes to recruiting talent. I look for individuals who have the right kind of energy for my organization. What I mean is very simple. I need to know that I can kick it and hang out with those people on a cruise for few days even when we are not necessarily carrying out business matters.
That sounds simple, but there is a lot of analysis that goes into this. That means, that individual must be cool enough, meaning, he or she has good morals and have character, have a sense of humor, is an optimist, have attributes that I respect and know will be an asset to the company. Above all, that means, I can enjoy having thought provoking conversations with them and enjoy learning from them as well.
Then and only then do I look into their credentials. I have turned down people from joining my team who may have had all the credentials and accolades but whose energy I just did not vibe with. Remember folks: Your foundation starts with your team; know that your people matter the most for your business to reach its optimal success!
TIP 2: Revisit your energy tank and utilize automation
We all have a finite energy tank. Some seem to operate from a higher energy level than others, but at the end of the day, we all have the same 24 hours per day. What differs from person to person is his or her ability to operate from a varying energy utilization valuation. Some of us have mastered the art of maximizing their 24 hours and utilizing their energy source for the greatest value in return of their investment of their energy than the others.
Such know how takes commitment to learn the strategies and gain wisdom and it cannot be accomplished overnight. Let’s be brutally honest, reflect on 2017 and ask ourselves: How much expendable energy could have been reserved for other opportunities where the return on our energy investment would have yielded a greater return? In looking at our business, what could have been automated? Do you truly have a system in place to cut cost and time?
The point I am making is, time is the most valuable currency that there is. Time is more valuable than any currency, credit card or block chain digital currency. We can never, ever get our time back. My mom once told me to look at every day as if I have been given a free 24 million dollars.
If we replace 24 hours with 24 Billion dollars, with a B, and honestly asked ourselves how much time could have been saved, I am certain that we can all identify ways in how we could have saved our time on various occasions. Perhaps it was getting involved in projects, having meetings with some people where a short 15 minute phone call would have sufficed, refusing to cut corners and turn down an opportunity to automate your system which later ended up costing you more time, money and frustration of your team.
As we close out 2017 let’s revisit our 24 billion dollar energy tank and honestly evaluate where we could have utilized automation and better choices to reserve our energy and time so we can optimize our resources for 2018.
TIP 3: Identify lost opportunities; how can your marketing, especially digital marketing improve?
There is a reason why so many fortune 500 companies allocate the largest budget for marketing. You may be the best kept secret in business but if no one knows about your product or service, good luck closing on sales. Even more so, if your target audiences do not know of your brand, good luck reaching your sales goals.
Big corporations understand that the success of the company is almost impossible without a solid marketing strategy roll out plan.
Today, when we use the term, marketing, we are almost always including and even focusing on digital marketing. If this is news to you, then Houston, we have a problem! The undeniable advancements in technology have disrupted the commerce with eCommerce taking over traditional brick and mortar businesses; traditional advertising being replaced by strategic digital marketing that utilizes focused analytics as well as the development of various social media platforms.
If your 2018 marketing budget does not include a budget for a digital marketing plan, then you might as well throw in the towel and wear a tag that says, “I am choosing to become a dinosaur.” Check out my previous blog post: Don’t become a dinosaur where I go into further detail on what it means to become a dinosaur.
Take out a clean piece of paper and write down the opportunities that were lost because you were too busy exerting your energy on things that really did not bring you the return on your investment and ask yourself what opportunities could have been captured via utilization of a great digital marketing slipped through.