Why is June so important?
As we quickly approach the end of financial year, now is a good time for business leaders to not only review your 15/16 results and achievements but to also get a head start and refocus and reignite your vision, objectives and goals for the upcoming year.
It’s a common complaint of many of my clients, “where has the time gone?” And I’m sure you’ll all agree that it seems time is flying by faster and faster, so let’s use this month wisely- take a big breath and re-focus on your key priorities to ensure we create a better future for you and your business.
Financially, June is a very important month for many reasons especially for accounting firms responsible for the end of the financial year accounts for Australia’s $2.0m businesses.
If you haven’t already done so, June is also an important month to finalize budgets for the upcoming financial year, which means evaluating facts including this year’s results, fiction (expectation that others want) and reality (what good budgeting should be).
To me it is also a time for leaders to reflect on the year that was including asking some hard questions such as;
- Did we achieve budget profitability?
- Did our revenue grow?
- Did we achieve our objectives both financial and non-financial?
- Did we make the changes we needed and wanted?
If you answered no to any of these questions, you must be experiencing a level of dissatisfaction or frustration. In business to improve profitability or performance you must start with a high level of dissatisfaction or frustration, then decide on a clear vision on how the business should be, then finally develop a plan outlining how to get there.
As a starting point we recommend that you identify your number one frustration and then think about the benefits to you and your business if you were to fix this frustration. It’s important that you also consider the implications if you didn’t fix the frustration, as combined, this should provide the motivation necessary for you to prioritize and improve in the upcoming financial year. And something I would like you to keep in mind is “your frustrations are an opportunity, and where there is opportunity there is profit.”
As I mentioned earlier, time is of the essence. When we think of successful leaders, we think of strong, decisive communicators with a clear vision, so let’s make sure we use June wisely.
If you are have a frustration that you are determined to rectify but you’re not sure how, simply give me a call to arrange a complimentary opportunity assessment so I can show you how.
Simply Business Australia
Phil Coombs “The Profit Coach”