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Thursday, June 13, 2013

We’re halfway through the year and you know what that means…

It’s time to take a step back and reevaluate the business goals you set for yourself and/or your organization way back at the beginning of the year. The famous Serenity Prayer comes to mind, God grant me the serenity to accept the things I cannot change; The courage to change the things I can; And wisdom to know the difference.  I cherish you.

The simple mantra is a request for three things: serenity, courage, and wisdom. 

Serenity means without worry, stress, or disturbance; utter calm. Courage means the ability to face difficulty, uncertainty, or danger without being overcome by fear. Finally, wisdom means the ability to make sensible decisions and judgments based on personal knowledge and experience; good sense.

When relating to business, who doesn’t want to be utterly calm, face difficulty without fear, and make wise decisions? It’s very possible, but it doesn’t always start off that way. At the beginning of the year, we all make plans and set goals for the year ahead of us and you have an idea on how the year might go based on the previous years. However, things don’t always go as planned and sometimes it’s easy to get off track. We’re halfway through the year and now is a great time to sit down and objectively determine if the path you’re currently on will help you meet your goals. Perhaps you are on the right path, but the goals have changed. Either way, a healthy evaluation of your current status can be helpful in determining how the second half of the year should be handled.

During the goal reevaluation process, it’s important to be honest with yourself. 

Like the Serenity Prayer states, identify the things you cannot change (e.g. the economy), change the things you can (e.g. pricing, customer service, outdated business practices, value proposition, etc.), and the ability to know the difference. If you own a small business adversely affected by the down economy, it might be time to change how you go about getting new business or retain current customers.

If you are on the right path and business is going as planned, keep at it because you’re doing great! Also consider adding a new element to your business (e.g. introduce a new product or enhanced feature, hold a seminar, create a charity event, etc.) to keep the momentum going. If you are on the wrong path to meeting your goals, it’s never too late to change course and there are countless ways to turn business around.

Is business going well? Share some tips and tricks of the trade you’ve picked up along the way that might help those that are struggling.