Business planning: How to make the most of July

July is either the beginning of a new financial year or the middle of a calendar one. But whatever way you look at it, it is a great month to review our business planning and take stock of how our business is tracking.

For me, July is not so much the start of a new financial year but it’s a place in my diary for ‘school holidays’, so that usually means time off with my kids as well as time to review my business planning. Sometimes I do this stocktake in my head as we drive on a trip or in bed during a sleep in. But my favourite place to think things through is while I'm on a banana lounge in the sun somewhere!

The best way to look at our business is to get away from it and see it from the outside. This can give us clarity that would never be possible if we sat at our desks. As I indulge in the warmth of the sun, I ask myself how I feel about my work, what I like and love and perhaps most importantly, what I’m not missing while I’m away from it.

Apart from my tax commitments, I work to a calendar year for the very reason I fly solo - my children. Each year, I re-examine my commitments to my children in terms of time, money, ‘being together’ and which afternoons I am required to transport them to their various activities. Next, I organise my business planning around that. By necessity, then, every working year looks different.

July is a great opportunity to start afresh. You can keep the things that are working well and discard those things that are either not profitable, not in sync with your family life or no longer fit with the vision for your business. Sometimes this is as simple as just not doing it anymore!

I have made decisions on banana lounges that saw me no longer working for clients I didn’t like as people, no longer feeling chained to my email by not checking it as often, no longer responding to calls for tenders because I disapprove of the process and fundamentally changing the services my business offers.

By seeing the next six months as I want them to be, I can do some business planning to make that happen. I’m the one on the banana lounge with a pad and pen and a pile of inspirational business books!

If this works for you in July, why not try it in September, January and April as well?

Karen Morath of M Power consults, trains, speaks and coaches in public relations, personal effectiveness, life balance and all things empowering.

2 comments | Add your own

I think as small business owners we should all make time to re-strategize and get ourselves back on track. July is a great time to set plans for the coming year. Financial, operational and strategic plans are what makes a business successful! Taimi Clinch from Victoria
Hi Karen, this is a great thought process. It is truely liberating. I think why just july, every month and every day, we should liberate ourselves.....from shackles we were never bound to....from conditional reality which is but an illusion. Anup Batra from www.searchenginerankings.com.au from Melbourne, Australia

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