In Australia it’s the end of another financial year. That usually means many small business owners are looking at getting their finances in order so that they can submit their tax returns.
Even though as a wealth coach I love seeing small business owners get on top of their numbers (although it’d be great if you did it more often 😉), to me the end of the financial year signals a time to stop and take stock of what business feels like.
Is your business still bringing you joy? Is it time to do things differently? What would that look like?
If you’ve got itchy feet or not enjoying your business anymore, here’s my thoughts on how to tell if it’s time for something different in your business.
You just know
If it feels heavy and hard, you find yourself procrastinating or doing things half-heartedly, then it’s time for something to change.
This happened to me recently. I closed my laptop one day and couldn’t open it for 6 weeks. There was so much other stuff going on in my life at the time that I just knew that my heart wasn’t in my business.
If you have a feeling that it’s time for a break or a different way of doing business, you’re probably right.
Side note: business is hard. It’s not all laptops poolside sipping margaritas. However when it feels like a burden, that’s when you’ll know it’s time to change it up.
Write a love/hate list
I love a good list, especially when it comes to decision making. Think of all the things that light you up when it comes to your business. How can you do more of this?
With your hate side of the list, is it specific tasks or is it something about your core offer that doesn’t feel right? If it’s tasks, then outsourcing could be your answer! For example if you don’t like keeping up with your numbers, then a bookkeeper may be the answer. If it’s creating graphics, then a graphic designer on your team could be helpful.
If it’s something about your offers that really doesn’t do it for you then you have permission to delete them! There’s always different ways you can offer them to your clients.
The key here is to think about how you can manage to spend more time on the things you love and less on the things you hate.
Create a dream list
If you like to journal, this is a great idea to use. If nothing was standing in your way, what would you love to do? Don’t justify whether you think it’s possible, just write.
Once you’re done, ask yourself could you just do it? What would it take to take the plunge?
Time log and values inventory
This is one of my favourite ways to take stock of what’s going on in my business. Perhaps you literally do not have enough hours in the day to get everything done and enjoy your life too. A time log will soon show you if that’s the case, or whether you’re procrastinating on things you don’t want to do.
Going back and revisiting your values will also give you a clear indication of what’s causing a misalignment for you. Your values may have shifted so your business is no longer serving you the way it used to. For example, you highly value family, but your business requires you to work when the kids are at home. You might value wealth creation but spend too much time on low profit offers.
Business is about staying the course and realigning when we need to. But it’s hard to know when to keep going and when to shift. By exploring some of the options above, you’ll get a better idea of which direction you should take. After all, you are the CEO!
If you need help to work out what you really need, then my Baseline to Bluesky package will set you off on the right track. Together we work out your business and lifestyle goals, so that you can start to build a business that’s successful and one that you love. Find out more here.