2014 is about to come to and end. What does that mean for business owners? As an entrepreneur in the Cayman Islands, I am very familiar with how business works here. It is unique and the potential for growth and profits is insurmountable. However, it takes a lot to achieve a great year. One of the things business owners should always do to be successful is to analyze the year that just passed by determining how the year went, examine what areas need to be improved on, and set a plan on how to make 2015 a prosperous year for the business. Today, we will look at four very important questions to think about to make 2015 a great year that is full of profits and success.
Review the four questions below to help you direct your focus on what is important.
For each questions, rate yourself on a scale of 1 to 10, with 10 being the highest and 1 being the lowest.
How would you rate yourself on dreaming?
Are you the type of person who dreams and envisions your future? In the future, you can see the beautiful mansion you will be living in, the nice fast car, and you have all the latest technology in the world. Dreamers already have their vacation planned out and there is no end to the amount of vacation you can go on! If you are one to dream, rate yourself high on the scale. If not, then rate yourself low.
How would you rate yourself on setting goals?
Do you have goals and ambitions you are aspiring to achieve? When you are good at setting goals, you have a clear understanding of what their goals is and you always keep an eye on it. Many wander around life, without any goals and they are not getting anywhere. The reason why? This is because they do not know what they are heading towards. If you are great at setting goals, then rate yourself high. However, if you lack in this area, then rate yourself low in this area.
How would you rate yourself on planning?
Planners are the ones who have a to-do list that is daily, weekly, monthly, bi-monthly, semi-annually, and annually. True planners have a clear understanding of what their goal is and a set plan on how to achieve it. Simple creating a goal is not enough. It takes planning to figure out how to achieve it. Rate yourself high if you plan very well, and rate yourself low if you do not.
How would you rate yourself on acting?
Not only is planning important, but how likely are you to act on those plans to accomplish the things you said you would. Entrepreneurs who are great at acting are always on the go to get things done. They are typically busy bodies and will take their work home with them if they have to. If you are not one to act to get your goals done, then rate yourself low in this area. If you are always on the go and ready to accomplish the next task, then rate yourself high.
Now it is time to calculate your score. Take the four numbers and multiply them together to get your total score. Then, divide that number by the maximum score of 10,000.
Look back at the scores you gave yourself. Be proud of any categories you ranked higher than 6. This is a great rating to have in these characteristics. If you rated below 6, then these are the areas you need to improve on if you want to be a successful business owner. However, just because you received a rating above 6, it doesn’t mean you don’t need to keep improving on these areas. If you rated a 7 on each category, you would have a total score of 2401, which is only 24% of the maximum. There is plenty of room to improve there.
If you want ideas on how to improve your numbers, view our next post to get great ideas on how to better these numbers for 2015.