|
Your
EnterQuest Bulletin - Issue 447
 |
Thought
for the week: "To achieve great things, two things are needed; a plan, and not quite enough time."
Leonard Bernstein |
|
In
this week's issue:
What
business owners can learn from 2011
At
this time of year it's certainly a useful exercise for business
owners to look back over the previous 12 months before looking ahead
to their business prospects (or lack of them), and the opportunities
or challenges they will be facing over the coming year.
Of
course, for many small firms this is something that needs to be
done anyway in terms of setting budgets and forecasts and using
actual financial results from the last year as the basis for their
projections, especially if they operate a January-December financial
year.
But
irrespective of your financial year end there are some other very
good reasons for taking a close look at what has happened to your
business during 2011.
In
particular these include:
-
looking at what went well
- reviewing what went badly
- learning some lessons from achievements and mistakes
- changing things for the better
Obviously
every individual business situation is going to be different in
terms of what may have occurred over the last 12 months, but in
order to carry out a review of your year the following 10 useful
questions can be asked by any owner manager no matter what line
of business they are in.
1)
What did you achieve during the year that you expected or planned
to achieve at the beginning of 2011? What enabled you to do this,
and can you continue to do it?
2)
What was your most significant achievement, over and above what
you had planned? What caused you to overachieve in this way and
can you repeat it next year?
3)
What are you personally most pleased about in relation to your last
12 months? What gave you the feelgood factor, and will that factor
be there again next year?
4)
What did you fail to achieve in 2011? Make a list of these failures
or shortcomings and if possible explain the reasons (not excuses)
why they happened.
5)
What were your biggest disappointments in the last year? What did
you set out to achieve at the beginning of the year but did
not happen or fell short of your expectations? Can you explain
the disappointments to help you avoid these happening again in 2012?
6)
What made you feel really bad about your business during the year?
Is there any reason why you will continue to feel this way in 2012?
7)
What was the most unexpected thing that happened to your business,
whether good or bad? How did it affect you and how did you deal
with it?
8)
From your achievements and successes what are the major lessons
you have learned, and can you repeat them over the next
year?
9)
From your disappointments and failures what could you have done
differently if you had the chance to do so? More importantly
what will you do differently in 2012, so as to avoid those disappointments
happening again.
10)
What did you learn about yourself during the year in relation to
your successes and failures? How much of what was bad would you
say was down to your own personal shortcomings and limitations?
And how much of the success was a result of your own talent, skill
or effort?
OK,
having gone through the exercise of answering most of the 10 questions
above, let's now think about what's lying ahead in 2012, and look
at any lessons you've learned in 2011 (from your successes and failures)
which could help you become better at running your business over
the next 12 months.
Of
course it's an easier exercise to look at your past mistakes and
learn nothing from them than it is to learn from them and concentrate
on putting things right. It's also much easier to learn nothing
from your accomplishments and then fail to repeat them.
To
keep this as simple as possible can you identify three or four things
that you genuinely believe can be changed for the better next year
- this is not just the things you'd wish to change that deep down
you know will probably never happen.
Those
changes should typically concentrate on the following:
-
being better at prioritising and getting things done on time
- spending more time on the things that you do well
- getting someone else to do things you hate or aren't good at
- reducing or eliminating the things your business does badly
- working on improving your own limitations
- seeking more help and advice from outside of your business
What
most of you will find is that some of what went wrong or right over
the last year was as a result of your own limitations and abilities,
and possibly even your mood and personal motivation. And some, of
course, will have been due to factors beyond your control.
If
you do nothing about addressing and making any changes then it's
almost certain that what happens to your business next year will
be little different to the last. You may think that's going to be
acceptable in your situation, but it's also very risky to be so
complacent about your prospects.
However,
if you do manage to learn some lessons from the last year, then
making a few of the right changes and small improvements could make
a big difference to your business performance and your personal
enjoyment of running it.
Either
way the EnterQuest team would like to wish you a Merry Christmas
and a happier, more prosperous 2012.
To
comment on this article please
click here to have your say.
Each
week we provide you with summaries of some popular or emerging business
ideas in the UK and elsewhere around the world.
-
Where's
Me Jumper creates bespoke
jumpers and sweaters. Customers send in their precise
measurements and submit images, designs or ideas and receive a
unique hand-knitted jumper.
-
Urban
Cheesecraft sells home
cheese-making kits through online craft marketplace
Etsy. The kits contain ingredients, recipes and equipment for
making a variety of cheeses including mozzarella, goat's cheese
and ricotta.
SEO tips for WordPress sites
This article from Search Engine Watch provides tips on SEO for WordPress websites including how to prevent hacking and improve the site content.
Tips
for increasing freelance rates
This
article from Mashable provides tips
for freelancers on how to raise rates in 2012. Advice
includes how to put a value on your skills, getting the timing right,
and starting with small increases.
Small
business trends for 2012
Duct
Tape Marketing has published an article on five trends that will shape small business in 2012. Predictions include social networks becoming marketplaces, apps
replacing search engines, and consumers using mobile phones to make
purchases and locate local businesses.
January tax dates reminder
Remember,
in January you will need to submit your online
self-assessment tax return for the tax year ended 5
April 2011 if you already haven't done so. You will also need to
pay the balance of any income tax and National Insurance due for
the same tax year, as well as amend any 2009/10 tax return for claims
relating to previous tax years.
Here's
our weekly look at some unusual, daft and often ridiculous business
ideas, products and news.
Also
from EnterQuest's publisher |
|
 |
The
UK Small Business Marketing Bible contains hundreds
of tips and tactics for boosting your sales using proven marketing
strategies that work no matter what product or service you
sell. |
Visit www.enterprisequest.com to access all back issues of the EnterQuest bulletin. If you have
any feedback or suggestions for us to make this service more relevant
please e-mail your comments to enterquest@cobwebinfo.com.
If
you wish to discontinue your subscription to the EnterQuest bulletin
please click on the 'Manage your subscription' link at the bottom
of the bulletin.
Remember
that we guarantee never to sell or give your e-mail address to anyone
else.
Good
luck
The
EnterQuest Team
This
information is meant as a starting point only. Whilst all reasonable
efforts have been made, the publisher makes no warranties that the
information is accurate and up-to-date and will not be responsible
for any errors or omissions in the information nor any consequences
of any errors or omissions. Professional advice should be sought
where appropriate. |
