You Can Always Get What You Want (!) Business Planning Mindset

INTRODUCTION:

Small business can be tough and there's no denying that. It can also be very rewarding. Too often I see owners who work hard, are committed but find they are not content with what they have.

This problem stems primarily from two main areas:

• little or poor goal setting;
• wrong mindset.

As a small business accountant it is our role to ensure our clients have the addressed both these points. Having a great plan which makes sense financially will also require a great mindset. Brian Tracy, Chairman of Brian Tracy International, organisational training and development specialists, has a great approach to the setting of goals and here are some of the keys points which everyone should check to see if they ring true with themselves.

Figure 1: In business you need to do more than Baz to get what you want!  Photo courtesy Balmain Baz & Lara Scolari Gallery Balmiain

1. what do you want exactly?

• How much income do you want to earn this year, next year and 5 years from today?
• What sort of family lifestyle do you want?
• What health changes would you like to see?
• What is your net worth goal at the end of your working goal?

2. write your answers down

Make sure you put these in writing as you will need to look at these and discuss them with your family and then your small business accountants Sydney when you are having your monthly or quarterly meetings with them.

You will also need to refer to these when business planning or setting your three way budgets.

3. set a deadline 

If you don't set a deadline it will probably never happen. When is the most efficient time when most people get things done? The last week before holidays!

Figure 2: Always give yourself a deadline!

4. identify hurdles to be overcome

Focussing on what is stopping you and how you will overcome these problems is crucial to your success. These should be addressed in your one page strategic plan.

Figure 3: Just like in life there will invariably be hurdles to clear (or smash through!)

5. prioritise

With your goals in mind, write down what you need to do first today, this week, this month, this quarter, this six months and this year.

Brian Tracy says you should ask yourself each day "If I could only do one thing on this list, which is the most important?". On your list put a number against in order of priority.

6. be disciplined!

Everyone has great intentions and says they will work hard to get what they want. However, if you are not disciplined, you will most likely fail. Giving yourself excuses as to why some goal or action was not achieved does not cut it with me! As a small business accountant Sydney we work with business owners who do what they say they are going to do when they say they are going to do it.

CONCLUSION:

The Rolling Stones sang "You Can't Always Get What You Want" but in many cases you actually can! Many people don't know what they want and even if they do lack the strong will and determination to get to the pot of gold.

Sitting down with our business owners and discussing these dreams and aspirations is critical to providing a great service as small business accountants.

Accounting may be perceived as boring but being relevant always gets attention!