Review Your Business from 2022 for a Better 2023
To reflect is to give something careful thought. In this article, I will be talking about reflecting on your business and leadership activities during the past 12 months. Reflecting is a way to untangle or sort through the daily nuances of running a business. It’s a way to evaluate your activities and experiences throughout the year, consider the different interpretations of those activities and experiences, which in turn will give perspective and meaning.
Reflection is key to the growth and development of any business, or leader, for that matter. Unfortunately, most don’t or won’t make the time to step outside the numbers and truly put the business performance into context. When you measure results, better results tend to occur.
A review will support your business growth and help you create a marketing strategy for the new year. It will shine light on the areas of your business that require refinement, or you may even identify new opportunities.
Reflecting takes time. You must be willing to slow down, be curious and take responsibility for the decisions and actions that got you to where you are today.
For many entrepreneurs and leaders, this exercise can be difficult because it involves conscious consideration and analysis of your beliefs and actions. Accepting the truth about your performance can be scary. It requires asking the hard questions, looking at the answers honestly, and truly going beyond the financials.
Things like customer satisfaction, employee satisfaction, performance reviews, what goals were achieved, which ones weren’t and why, are key areas of consideration. But so are things like, did we advance our mission? Did we live up to our values as an organization? Did we make a difference? Did we open new revenue streams? What should we do next year? These are all key questions to ask and answer as you move into the new year.
When it comes to my business and reflection, I look at the following areas as a starting point:
- Wins — what did we do well?
- People — meaning the team
- Time and where it was spent
- Insights for lessons learned
- Mission alignment
In business, it’s important to be intentional about rooting out inefficiencies so you don’t become handcuffed to a specific set of processes. If you implement a mindset of continuous improvement, one is less likely to take the findings of the reflection process personally and look at it as more of a tool to gain clarity and momentum moving into the next year.
We grow from our experiences and from understanding them. January is the perfect time for reflecting and making a fresh start. What are you waiting for? It’s time to review your progress.