Time Out for YOUR Business Needs!

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Solopreneurs spend all day handling phone calls, responding to texts/emails, meeting with customers, managing vendors, posting content, negotiating with suppliers, delivering services, collecting payments, depositing income, and the wheel continues turning the next day.  Dealing with the minutiae of business can make your forget to pay attention to the fundamentals of your business.

When this happens, you need something quick and easy that helps you to keep an eye on your company.  Your company needs a fifteen minute client meeting with you.

One of the best practices for combatting the daily grind is to make your company the first client meeting of the day.  A fifteen minute client meeting shears time from your busy schedule to get you out of the “business” and into the current issues of your “business.”  It propels you forward to achieving the goals you have set for your business.

Before your first fifteen minute client meeting, do some prep work and write down your goals for the next 90 days.   This 90 day sprint serves as an agenda for the meetings.

Set goals that are SMART (Specific, Measurable, Attainable, Relevant, Timely.).  An example of a SMART goal is, “I will research the procurement site for the state of Tennessee by October 3, 2019 to learn if Tennessee outsources janitorial services. 

The five rules for SMART goals are:

1) Specific-state the goal precisely and clearly
2) Measurable- good measures allow you to know when the goal is completed
3) Attainable- resources needed to complete the goal are within your reach
4) Relevant- the goal is applicable to your business
5) Timely- the goal has a completion date or timeframe for being achieved. 

Here are a few suggestions on what to do in your fifteen minute client meeting.

Avoid Distractions- Turn off or quiet your cell phone and hold off from responding to emails, text messages, etc.  

Review goals-Check your current goal.  Determine the task(s) that you will complete for the day to get closer to completing the goal.   Glance over the tasks that are left does anything need to be revisited and/or reoriented.  Does any task need to be delegated to anyone? 

Check the pulse –The pulse of any company is its current cash position.   To help check your pulse, look up your accounts receivable report, accounts payable report, bank statement to answer the following questions:

-Is there enough cash to pay company bills? For how long?

-What is happening with payables?  Why?  Does anything need to change?

-What is happening with receivables? Why? What needs to change?

 These questions help you to dive into the cash flow analysis of your company.  If you want to learn more about managing cash.  Send me an email at toni.cardell@uky.edu, and I will send you a short free booklet on managing cash. 

 Read industry intel- .   Monitoring intel keeps you abreast of your industry’s environment and regulations. Review industry intel and determine if there are any opportunities or threats the company needs to handle now or in the future

Take some time to read industry newsletters or postings, magazines, etc.  Consider using Google Alerts to receive information on your industry.

There are other areas you could focus on during your fifteen minute client meeting.  Because it is your meeting, you get to select what makes sense to cover.  So grab your cup of coffee or a slice of avocado toast and enjoy your fifteen minute client meeting. 

Janet FlaughBlog