As we end the year, unless you’re in retail, now is a great time to find a quiet space to think and ask yourself the questions that you might not normally have the time to ponder.

What questions are they?

Well, you could start with the following;

  • How are things going?
  • What’s working?
  • What’s not working?
  • What needs to change?

From there you might look at how you might bring about the changes that you’re seeking to have happen.

As accountants and business advisors, we’re trained to monitor where clients are at against their goals, usually in the form of a budget or projected earnings, profit, growth, or putting sale or succession plans in place, etc. And they’re critical things for you to be across.

However sometimes, especially if you’re the one running the business, you know that it’s easy for those measurables to overrun the ones that use to be really important to you.

Remember the goals of time, family, friends, balance, less stress, writing that book you’ve been meaning to write? You know, those goals that probably crossed your mind as part of the reason you started your business in the first place (even sometimes changed job).

It’s really easy to put those ‘other’ personal goals off until later – when you have more time, more money, more whatever you need in order to get better balance. Except, without sounding too depressing, none of us exactly know what’s next or how much ‘later’ we’re going to get – especially when it comes to relationships.

With so many business owners working all hours to build a better future for themselves and their families, one of the things that can get a bit lost in the flurry of business activity (or a stressful job) are their relationships. If you’re working all the time, or even thinking about work all the time, then something’s got to give.

The one thing that almost every accountant would say, is that it’s much cheaper to stay married/together with your partner. The problem isn’t so much that you’re thinking about work, but it’s that, unless you run a family business, your partner’s not experiencing the highs and wins that also go along with running the business, they’re just experiencing the stress of running the business through you. Or maybe they feel the business is the reason you’re ‘absent’ from family/friendship group activities.

So this year, when you’re considering the four key questions above, change perspective and focus on the areas of life that are really important to you (and those you’re close to). It might just be the best financial review you ever undertake.

Of course, if you’re looking for someone to help you grow your small business more profitably or put financial systems in place for you to monitor that growth, we’d love to chat. You can call Kerry on 6023 1700, drop us a note or connect with Kerry via LinkedIn.

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