Review Your Business Regularly to Stay on Track!

Review your business regularly to stay on track!

Reviewing each aspect of your business on a regular basis is an essential part of success! The longer you track your KPIs, the better they can inform what goals you can reach for next. 

What to Review: The Seven Essential Elements

Every business is a unique combination of the Seven Essential Elements, which are:

  • Business Development
  • Financial
  • Human Resources
  • Legal
  • Marketing
  • Operations, and
  • Sales

When to Review

Daily/Weekly: Elements of your business that change or fluctuate frequently need to be reviewed more often, like sales, marketing, business development, some financial aspects, and operations. If you make lots of small sales, reviewing each day may be the best way to go. You can also review daily AND weekly, to see small and large trends in your sales. 

Monthly/Quarterly/Yearly: These reviews are where you capture big-picture information, and are especially useful in the business development, overall financial planning, human resources, and legal elements of your business. 

Note that there’s some overlap between the categories! Daily or weekly financial reviews can give you information about day-to-day sales, while an annual review of your business finances can give you data you can compare to previous years, and help make projections for next year.

Adjust Your Targets

During your regular reviews, don’t be afraid to change your goals in any of the aspects of your business! If you made a sale every other day last year and that was enough to cover expenses, you were meeting your KPI targets at the time. If this year during your financial review, you realize you’re selling twice as much and can hire some employees, your sales target will need to increase to cover expenses. 

Adjust Actionable Steps

When you adjust your targets, what you’re really adjusting are the steps you take to achieve those targets. If you want to gain a certain amount of clients, you could make more phone calls, or send more marketing emails. At your next review, see if those actionable steps are leading to the outcomes you want. If not, keep adjusting! 

How often do you review your business now? Have you found it helpful?
Tell me in the comments!

7 Space-Saving Closet Tools

Maximize your closet with these space-saving closet tools!

Storing your clothing and accessories in a way that makes them easy to access and put away is pretty much the goal of this entire series of posts! No matter your closet style, no matter what you store in your closet, I want to make your life EASIER. Here are my tips for choosing the right closet storage tools for you.

Remember: whenever possible, use or repurpose any closet storage tools you already have on hand. Decluttering your closet only to clutter it back up with organizers is not the goal here, and using or repurposing what you have makes economical and ecological sense.

Shoe Organizers

Shoes do not belong in piles! It makes them hard to find and easy to damage. The cheapest option is to keep them in their original shoe box. They’re stackable, fairly sturdy, and you can use a written label or picture on the front to identify which shoes are where. Shoe organizers are usually better space-savers. Check out this one made of recycled plastic bottles!

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4 Steps to Implement Your Business Goals

Implement business goals effectively with these 4 steps!

Last week I wrote about creating SMART PATH goals for your business. Once you set your goals, how do you implement them? 

Step 1: Set Priorities

When all tasks have the same priority level, it’s difficult for you and your employees to know what to do first. I recommend using a time management matrix like Stephen Covey’s to separate tasks into categories based on importance and urgency.

Create a list of tasks that are done on a daily or weekly basis in your business, and separate them into these categories. Use my free downloadable worksheet to guide you through the process!

Once you have categorized your tasks, you can create a schedule based around the high-priority tasks, and schedule less urgent or important tasks around those foundational blocks. 

Step 2: Training

Knowing which tasks to do is only useful if you and your employees know how to complete those tasks! Creating workflows for each task is essential, so that there’s a clearly defined process for reaching each goal. Make sure that each person is trained in these processes, so they can work independently when possible. 

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5 Simple Closet Organizing Tips

Use my closet organizing tips to achieve your dream closet!

Tip 1: Keep Like with Like

Keeping similar things together means you can visually assess what you’ve got. When your sweaters and pants and skirts are all in a jumble on the closet floor, it’s hard to know how many of each thing you have. Separating items by category keeps your wardrobe balanced. It also makes things easier to find. Just like a file folder with subfolders inside, you can create a system in your closet that makes locating items simple. No more digging through piles to find that one sleeveless top you know is somewhere in there. It’s with the other sleeveless tops!

Of course, there are many different ways to categorize items–you don’t have to do it by sleeve length. Use whatever method works best for you. If you’re not sure which to pick, roll a die and pick one at random. Try it out for a few weeks and see how it feels!

You can sort by

  • clothing type
  • color
  • season
  • sleeve length
  • occasion…

There are tons of options! You can even sort by outfit! If there are pieces you know you always wear together, group them.

Tip 2: Hanging vs. Folding

Are you a hanger, a folder, or a mix of the two? I like a hybrid approach where the type of garment determines my storage method. Blouses and pants that crease and wrinkle are best hung up, while denim and t-shirts are great for compact folding. That’s not to say you can’t hang it all! If you’ve got the room, go for it.

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Are Your Business Goals SMART?

Set achievable business goals with my SMART PATH system.

Running a business can be tough. People like to be challenged, but not overwhelmed. How do you make sure your business goals are engaging and realistic?

Tackling too much

Having big dreams for your business is great! But just like making a New Year’s resolution to never eat a carbohydrate again, or to go from never jogging to a marathon winner by February, if the bar is set too high, the chance of burnout or failure increases.

So, how do you make progress without burnout?

In my experience, it’s difficult to make progress until you pay attention to the process rather than the end goal. Instead of making major changes immediately, I advise business owners to break their goals down into the SMART PATH system. You’ve likely heard of SMART goals, and adding the PATH to achieving them increases productivity without sacrificing morale.

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