This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2022/12/why-now-is-the-ideal-time-to-learn-from-your-successes/
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Contributed by Brooke Lively, an Entrepreneurs’ Organization (EO) member in Fort Worth. Brooke is founder and president of Cathedral Capital, which provides strategic financial advice to drive profit by creating customized teams of financial professionals to analyze data trends and guide entrepreneurs through their numbers so they can predictably scale and grow their businesses. Brooke recently shared 4 Timely Business Lessons to Improve Your Company’s Future Profitability on EO on Inc.
I love what we at my company call the “quiet period”. That time between Christmas and New Year’s when we don’t schedule client calls or meetings with colleagues. The week that we use to catch up and think. And it’s the thinking that I find most valuable.
What worked this year? And the reverse of that same coin: What didn’t work? What will we continue to do, and what do we need to delegate, automate or simply eliminate?
Note what didn’t work
Let’s start with what didn’t work, because that is where everybody always focuses. Take a step back and look at this year’s initiatives. Which ones didn’t work and why? And don’t just settle on the first why—really dig. Was it the wrong time of year, or did it not have the full support of a really well-thought-out marketing campaign?
Where are the bottlenecks in your company? These are always great places to find efficiencies and therefore leaking profit. My caution to you here is, again, don’t settle for the surface problem. Keep asking what we call the AWE question, “And What Else?” And what else could be causing that? And what causes that? And what causes that? Keep asking until you actually get to the root cause of the bottleneck or problem. Stop treating the symptoms in your business and start treating the actual problems.
Don’t overlook goals achieved
But it’s the things that did work this year that I want you to … Read More
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