latest Content

Quick tip for when building your business

If you think the changes you’re making to your business or your working day aren’t making a difference, think again, says Brett Davidson

It’s easy to feel like the things you work on each day or each week aren’t making any difference to your business, but this is rarely the case. Yes it’s possible that you’re working on the wrong things, but almost anything you improve has to have a positive effect, so don’t get so hung up on that one.

If you feel like ‘it’s not working’, stop yourself for a second. I know it’s easy to look at your friends and peers and think “They don’t seem to be worrying about or working on the things I am working on, and they’re doing just as well as I am.”

This might be true today, although it’s also possible that you don’t know everything that actually goes on in their business. Be careful not to compare how you feel inside to what others project to you on their outside – the two never match up and you’ll always feel second rate.

The trap in that way of thinking is that changes occur slowly and with only a small impact at first. But over time (12 months, three years, or five years), these small changes can have an enormous cumulative effect; sort of like compound interest.

You save a little each month and think “Why I am I bothering – my friends just seem to spend all their money and have a good time.” But as advisers you know that this is an illusion that’s only true in the short term. Over the longer term, those small wins (each month’s saving) can add up to real wealth later in life.

The same is true in your business. The small improvements you make over a week, month or year do make a difference.

You can help yourself to stay focused on making the right decisions every day (as opposed to chasing the results by taking short cuts), by monitoring the right management information (MI).

Ask yourself this question: What are the inputs we need to be focused on each day/week/month/quarter that will produce the results we want in 12 months, 3 years, 5 years?

Most companies I speak to have MI that is only telling them ‘what happened’ not ‘what is going to happen’. When you only look at your sales or financial results each month you’re focused on your past, not your future. When you focus on the inputs that create your future, you are then on the path to creating new outcomes.

Making the right decisions daily by monitoring the right inputs is the fastest way to achieve your wildest dreams and helps you overcome the illusion that ‘it’s not working’.

Visit the FP Advance website

More Articles Like This