We are entering a new financial year a time when our books are all balanced and we have the chance to reflect on a full year completed and how it went for us. I do suggest you conduct a broader business review at this time, but the financials will play an important part in this. It can be a good time to assess whether we should stay in business or whether is it really time to quit?
Quitting often is associated with negative connotations. Sometimes though we need to drop something so we open the opportunities for something far better to replace it with. Therefore don’t see it as a negative!
If your business is not generating the income you require, or worst still it is going backwards, then you need to ask yourself some hard questions.
Have you seriously dedicated enough time, money and real focus to the business? It is easy to be busy but not working on what is the most productive or income generating activities for your business. For some, even including me, year end is that wake up call to say it is time to really focus and get things back on track, after what’s been an extremely tough few years – whether health, financially, mentally or emotionally.
If you’re going backwards, can you foresee when that trend will be broken? Can you see a successful future? If not, it may be time to call it quits. Please check out the FAQ Business Podcast on this topic for more details.
Link: https://faqbusinesstraining.com.au/faq-businesspodcast-australia
Jane Tweedy 0490 102 194
Western Sydney Business Centre
[email protected]
