By John Heringer, AFS Community Expert
It’s the end of the year and things are wrapping up soon. Clients are getting ready for the holidays and perhaps you, too, are looking forward to some time with family and friends and relaxing a bit before the New Year hits.
Between servicing current clients, marketing for new clients, standard business administrative work, family, holiday shopping, and other obligations, there seems to be not a single minute of time left to do anything…let alone catch up on some sleep.
However, I want to introduce you to an annual exercise that I believe will spark fire in your business and your life as well as that of your team.
Introducing: R Squared (Otherwise known as Review and Reflection)
There is immense power in review and reflection and yet so many of us declare that we don’t have the time to do this. Echoing the words of the wise Stephen Covey in his acclaimed book, The Seven Habits Of Highly Effective People, R Squared falls into the time quadrant of “important, but not urgent.” It’s time you MAKE the time to get this done and here are some questions to get you started:
- Financials – What were your gross revenue and net profit numbers this year? How does it compare to last year? Any trends to be aware of for future forecasting/budgeting or marketing campaigns? Have you completed your tax planning so you’re prepared for payments due next April? How does your savings/reserve fund look? Any additional money available to fund a retirement account?
- Marketing – How did your external and internal marketing efforts turn out? Any campaigns that did well that you should execute again next year? Any campaigns to remove? Have you analyzed the true costs associated with each campaign and the ROI? Did your email list grow? Any further nurture or conversion campaigns to add?
- Customer Service – Have you done a survey to your members to get a pulse on how your service has been received? Are your members achieving their goals and getting results? Have you provided adequate content to keep them engaged? Have you provided ample amounts of recognition to make them feel appreciated? Have you implemented NPS (Net Promoter Scores) to continuously get a pulse on how your clients feel about your business?
- Team – How is your team doing? Have you asked them or had them do a small survey to check in? Is their performance continuously improving and contributing to the bottom line? Anyone to “train up” and help them get to the next level? Any team members bringing the company down that you may need to get rid of? What does your org chart look like these days? What does the next phase of growth look like and what will it do to fuel your vision, grow the company, and remove you more from operations (if that’s what you want)?
There is immense power in review and reflection and yet so many of us declare that we don’t have the time to do this.
- How do you feel about the past year? What went well and not well?
- What were the 5 most important events of this past year, personally and professionally?
- How did you do with your personal goals?
- What were your top 3 achievements this year?
- What was a setback or failure you experienced this year and what did you learn?
- Who are the 3 people you are so grateful to have in your life and why? When was the last time you told them this?
- Who is someone in your life you need to reach out to?
- What are 3-5 things you are most proud of in your life?
- What are 2-3 habits, activities, or things you can start doing now to make next year absolutely epic, both personally and professionally?
I hope this list of questions to ask yourself gets you started on one of the most incredible processes that you do, in fact, need to make time for, each and every year. R Squared provides both the intricate review and planning to move your business forward, as well as the necessary reflection to see how far you have come, what you have to be thankful for, and all the people and things in your life that make you smile.
Block off an entire day or two half days and make this happen. Then get ready to enjoy life and business a whole lot more as you turn that spark into a burning fire of hustle, passion, and gratitude.
Have an incredible rest of the year and epic start to the New Year.
John Heringer is the Founder and Chief Motivator of Fast Action Training, a boot camp and personal training studio in San Jose, CA. John has been managing and leading in the fitness industry for over twelve years and loves everything about leadership, marketing and building an incredible team. Since early 2010 John has built Fast Action Training to a seven figure business with over four hundred clients and an amazing team of nine individuals dedicated to changing the world one person at a time.