As an entrepreneur, it’s vitally important to focus most of your time with your eyes looking “down the road” – into the future. Day in and day out, as busy business owners, we spend much of our time meeting and hopefully exceeding our current customers’ expectations.
But it’s equally important that we spend time looking into the future, trying to anticipate the inevitable changes in the marketplace, so we can best determine not only what products and services our customers will want, but also how they will want to receive them. Business analysis, strategic planning and engaging in goal setting is vital to propel your business forward beyond next week, next month and next year.
You may have a successful, thriving business today, but failing to change and adapt your business to meet your clients’ new and ever-changing preferences is a sure recipe for failure.
However, it is also always good, especially at year’s end, to take a few minutes to look in the rear view mirror to take stock of where your business has been and what you’ve accomplished. Reflection on all aspects of your business's life cycle can tell many stories that can help you as you move ahead.
Take time to review what worked well, what didn’t, and perhaps ponder why. Perhaps it's a good time to perform the SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of your business, if not the entire business, but of some of your process areas. But while it’s true that we can learn a lot from history (looking in the rear view mirror), don’t spend too much time there – because the future is going to unfold in front of you!
Learn the a few strategies that can turn your practice around; sometimes it is only one small change that can make a world of difference. For a limited time, I am offering a one-hour, FREE, strategy session to law firm owners. You will have one full hour to talk about your practice area with me. I can promise you will receive the same value my private business coaching clients receive. Don't wait. Whether you need to cover a specific area that is needling you, such as cash flow or whether you simply want to review your practice from a 30,000 foot view, schedule it now.
Building better businesses, one rear view mirror at a time.