Clear Vision’s Managing Director Matthew Rogers shares his recommendations for you and your business going into the new year…
How was your Christmas and New Year?
I hope it was enjoyable and you were able to get some mental rest and recharge as you spent quality time with your loved ones.
I love Christmas – so much so that I have usually completed my Christmas shopping by the end of November, to the amusement of those who know me well.
So here we are at the start of 2023 and life generally feels a little scary and uncertain.
Recession is upon us and we know that this makes running a business more of a challenge.
Running a business in a recession focusses the mind on ‘what if’ planning, having clarity that your business can withstand the undoubted challenges it will face and the consequence of these challenges on your bank balance.
To kick off 2023 I am sharing some actions for you to consider to position you and your business to be resilient against these challenges.
- Your Role
Hopefully you had time to reflect on 2022 and the role you played in your business during the year. What role do you need to have during 2023 to serve your business in the best way? Will this role allow you to play at your best and maintain good energy as you journey through 2023? What holidays are you taking and when? It’s important to get these booked in the diary and get the mental rest you will need to be at your best. If you’re at your best your team will be too, so prioritise this.
- Your Support Networks
We all need good people (notice the word good here) around us to help us be at our best.
The knocks will come and it’s all too easy to view these negatively. That’s where a different perspective or challenge is needed to our thinking.
Talking through challenges with people who have got your back is immensely powerful.
- Your Team
What changes are required to your team, to help them thrive and become more effective in 2023?
- Your Customers
Consciously consider who you and the team enjoy working with and which customers suck your energy. Your time and investment in your customers need to be well spent, so make a conscious plan to remove those customers who have a negative consequence on the business.
- Your Financials
Give yourself clarity of your financial plan for 2023. Know your cash breakeven sales number, it’s the most important number you should know.
Run some different scenarios of this; what would you do in the event your business income drops by 20%? 40%? 60%?
It’s not enjoyable running through these scenarios, but having these plans in place does provide the peace of mind that you have a clear plan of the actions required in the event of downturn in your business.
- Your Peace of Mind
Know that you have done all you can to control the matters you can control and then let go of the rest. Constantly expending energy on the things you cannot control is not going to help anyone.
Plan, implement, action and then measure…tweaking as you need to.
Enjoy your downtime.
The Clear Vision Team is here to help you – we are all facing the same challenges so let’s share these with each other and take action!
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