Think of it like an annual check-up…
Look under the hood.
Make sure all systems are in working order.
Check the pulse.
Fill up fuel and fluids.
Set the GPS to reach your destination.
Super charge your engine.
Then… Go! Go! GO!
No matter what type of company you are a part of, taking inventory of your business needs to be a regular practice if you want to reach the finish line. Whether you have a product or service based business model, smart business owners need to keep an eye on what is coming in, what is going out, what is working and what is not, if you want to succeed. Taking inventory will not only give you a clear picture of where you are, it will keep you on target toward your goals while allowing you to feel confident and prepared should someone want to buy your business or in the event of an unexpected emergency.
Here is a 5 Step Process to Help You Take Inventory of Your Lifestyle Business:
1. Reconnect with Short-Term and Long-Term Goals. Pull out that list that you created at the beginning of the year and if you haven’t already, create a spreadsheet that lists your desired number of clients or sales, revenue goals, team goals, lifestyle targets, personal growth, personal health and relationship goals. Don’t forget to include deadlines, action steps and WHY these goals will make a difference in your life and/or your business. This is not an exercise that can be done in your head. Remember: the more focused and intentional you are about this information, the more likely you are to follow through.
2. Create an Honest Goal Progress Report. Take 30 minutes to evaluate how well you are doing in reaching for the goals listed in Step One. Start with the fun stuff by listing your accomplishments so far this year. List everything from media coverage you have received, a new website that was launched, team members that were brought on and revenue generated while also including weight you have lost, relationships that have been formed or let go, vacations that have been taken or planned and anything else that you have consciously made efforts to achieve. Take a look at the plan you created for yourself in the beginning of the year or when you created your business plan. What has shifted? Have you slacked off? Have you exceeded your expectations in any areas? Would give yourself an “A” in some areas and a “C” in others? Where?
Now, list out items that you have yet to take action on or complete and write out potential blocks or fears that could be holding you back.
3. Create Your Drop Dead Date List. Now, it’s time to get tough with yourself. Success cannot be reached without discipline. So, create a list of deadlines for your short & long term goals for both your personal and business goals and list our specific tasks that need to be completed to reach each goal by a specific non-negotiable date. If you truly want to live your ideal lifestyle, personal goals and business goals carry the same weight. When you are done creating this list, add these deadlines to your short and long term goal spreadsheet with intrinsic and extrinsic rewards for each goal reached. Get creative with listing these rewards because this is what will keep you motivated to reach the finish line!
4. Plot Your Course. Building on Step 2, you are going to write down the action steps that you need to take to reach your goals by the deadlines you have set. Include each and every task that you could possibly need to complete, from phone calls and emails to research and implementation. This task list is what is going to get you from where you are to where you want to be. It is your inventory of what is to come on the road to reaching your goals.
You are also going to create a list of everything that might prevent you from reaching these goals by the deadline and 2-3 options that you can fall back on should these challenges arise. This is your emergency plan. You may want to include contacts and resources on this page (ie: lawyer, insurance agent, manufacturer, etc).
5. Insert This Plan into Your Calendar, Set Reminders and GO! Now it is time to make sure you hit your mark for each of your goals. Input each of your tasks with reminders into your smart phone and laptop calendar so you can stay on track. Don’t forget to schedule time for daily inspiration and visualization so that you can reconnect with your WHY every step of the way. When you visualize your ultimate goal, you will be much more likely to attract situations that support your vision.
Commit to reaching all of your personal and business goals and know that with discipline, commitment, flexibility, a positive mindset and patience, you can accomplish just about anything you set your mind to.
If you have any questions, comments or thoughts, please add to the conversation in the comments. Thank you so much and good luck!
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