Firstly, Happy New Year to everyone! Here’s to 2018 delivering growth, learning, success and joy!
Starting back into whatever it is that we do is always a challenge. Cricket on the TV, ice cold drinks, ice cream cones and just a general “sluggishness” make it all seem a bit too hard! Compound this 10X when you are your own boss!
I typically start back into the business the week after New Year. It gives me time to review the goals set last year, reflect on the wins and misses and understand how I’m tracking to the all-important budget numbers – that’s always a good motivator, especially when I’m planning winter holiday! Here’s a few tips that help me as I navigate back into a routine.
1. Understand you are in a different space
As an accountant, this is a really hard one for me! I’m used to having set deadlines and this dictated how I planned my time and goals. With having my own clients in a start-up business, I’ve had to understand that I’m in a different working environment, and my approach needs to change. I don’t have concrete targets that when achieved, gives you the satisfaction that you achieved something for that day. Also, when working in corporate, there was always something to do – whether an email from internal audit that you hadn’t got replying, or completing the head office learning module on Health & Safety, or even just tidying that cupboard in the corner that has files from the 80s! The “blank page” when it comes to your own business can be overwhelming and there is this natural instinct, to fill it up! However, as in life, we need to get comfortable with this new found space, and allow ourselves to sit with it. This is when our best ideas will come to us.
2. Look backwards… yes, I wrote that correctly!
Open up the goals/marketing plan you set up for yourself 12 months ago. That’s right, go to your laptop, and open up that document. Hopefully, you’ve taken good advice from consultants like myself (yes, obvious plug for BizSync!), and you will have a set of SMART goals. Review them, update the progress, understand where the gaps are and critically examine if this is still the way forward. For me, when I go through this exercise, it automatically gives me a chance to review, celebrate and focus. I can’t help putting notes on the learnings from a certain marketing strategy, or a bullet point to contact a client I had worked with or how I plan to get to a certain target. Despite this solitary and simple approach, this exercise gets the juices flowing again.
3. Look forwards…yes, now we are ready to do this
Understanding where we are, helps us plan forward! This is the underpinning of an accountant’s philosophy so I cannot emphasise this enough. So once the juices are flowing, and we’ve seen how we are tracking, it’s time to work what the options are: stay the course or change. Success in anything, I believe, is agility and adaptability. Are the goals still realistic/achievable – sometime they are not, and if not, we need to adapt those goals. If they are, how are we going to do this? Who do we need to contact? How do we go about doing this? Write down the hard/difficult stuff we may need to do – don’t take the easy way out! Do we need to look at a different type of client – lead in with a different service offering and then once established, showcase what we do best. We may need to cut down on spending so what is necessary and what is discretionary? The list goes on. However, the key is, the simple exercise gives you a renewed focus of what the next steps are. Conscientious planning in turn motivates you to keep pushing through the procrastination problem and gets you planning.
4. Start talking to people, with no expectations on the outcome
When I was in recruitment, the most difficult call was the first marketing call of the week. And it wasn’t the call itself, it was the actual act of picking up the phone and calling potential clients. For those of you who know me, that can come as a bit of surprise as I’m naturally extroverted and I can talk about anything. But it felt awkward – the words in my head were “I wasn’t a salesperson; I am a professional and people are going to know I’m trying to sell something and it’s going to be so embarrassing”. A good piece of training I received is don’t make the goal of the call/meeting to be getting a fee; instead, think of it as an opportunity to extract 5 pieces of useful information. This information could be that the person is interested in tennis, they have a partner who is an architect, they know a good lawyer… so, think of the call as just getting 5 pieces of information that you didn’t have at the start of the conversation. Of course, write it down on your client details so the next time, you have more information that will help the conversation flow easier and of course, if there are any leads, then follow up on it. If you are going to do lunches/coffees, be selective. However, again, this can be good and easy motivator to get back into the swing of things, and well, you can treat yourself to dessert and some sunshine! I also suggest logging into LinkedIn and connect with people. It’s a great professional network tool. Don’t be afraid to send invites to people you don’t know, but would like to meet with. If they don’t accept, don’t take it personally. One of my direct reports (and coincidentally, one of my best hires) reminded me that just as you are trying to build your dream and connect with the right people, other people are doing the same – believe in your worth and unique offering! (thanks to you know who!).
5. Catch up with your support network
I don’t have an official mentor. However, there are plenty of people in my support network and that works for me. Catch up with them as they will remind you why you are doing what you set out to do, but most importantly, if they are anything like mine, they will get you to get your “A into G” and get on with it. When you commit to doing something out loud with this support group, then you are accountable. As tempting as it is to watch the English beat the Australians in the cricket, saying out loud that need to get back into the business rhythm, forces you to turn on your laptop and email a client or write that blog!
Being goal orientated and time conscious are great attributes for success. However, when you are in your own business, these attributes have to play out slightly differently, especially as you kick start into the New Year. The playing field is different and success may mean adapting your expectations so that once-thought of simple approaches are what you need to get up and get back into it! Get started by doing the simple bits well! Hoping these tips help you kick start an exciting 2018!
Prenelle Rungan – 24 January 2018
Prenelle is a fully qualified CA and lawyer. She has held senior finance roles with global and local companies over the last 15 years. She is currently a Director of BizSync Limited, a consulting company that strives to start businesses on the right foundations. To contact her, please follow this website link www.bizsync.co.nz/contact.