Year 2014 is history. How did you do? Use this simple management tool, taught to me by my mentor and a foremost authority on business mastery, Keith Cunningham. (If you would like to know a book of his you must buy, contact me.)
The job of leadership and management, whether you’re a one-man army or run a large corporation, is to address the threats to sustainability. The worst thing you can do is run out of cash. And there are many other blind spots and mistakes business professionals make, from wasting precious resources like time and money, to failing to develop themselves and their people.
One glaring blind spot I often encounter is how owners respond to what’s happening. They either fail to keep accurate financial records of the transactions occurring in their business, or they don’t effectively interpret the results. Here’s how to eliminate the second error.
First, memorize this causal chain: MANAGEMENT makes DECISIONS about ACTIVITIES that drive RESULTS (NUMBERS).
If you get timely and accurate financial “report cards” on your business’s activities that occurred, HOW do you interpret those results/numbers? What questions do you ask? Here are two of the most powerful questions you can ask yourself and/or your team:
- What happened that shouldn’t have?
- What should’ve happened that didn’t?
Secondly, are you making the time to think about your business results. Michael Gerber, Chet Holmes, Tony Robbins, and many other business gurus call this “working on” your business (instead of “working in” your business). Let me show you the steps to deploying this “working on” strategy effectively. Email Me