This is written for business owners who don’t have, and may never have a management team but want to maximise their business results.
There are lots of things you can do to improve your results but above all of them is management because everything and everyone (including you) needs to be managed. And, the better your business management the better the results; the Federation of Small Businesses published a paper called Leading the Way which found that a 20% improvement in management has the same result as a 25% more employees or 65% capital. How would 25% more productivity impact your business results? How would that end up benefiting you? Could you retire earlier, enjoy a better holiday and/or provide more support to your kids?
The weekly self-review is something you can do to improve the management in your business. The benefits of a self-review include:
• Staying focussed on what’s important, not just urgent
• Weekly reviews keep us organised
• A better understanding of what we’ve learned
• Our belief in our own abilities increases
• Reflecting on what’s good improves our internal state
Staying focussed with a weekly meeting is one of the four disciplines from the book “The 4 Disciplines of Execution” written by Chris McChesney, Jim Huling, and Sean Covey. The four discipline of execution is a proven methodology for turning plans or goals into results.
Better understanding enables us to make better decisions, the more we believe we have the ability to perform well, the more we do perform well and the better mood we are in the more effective and resourceful we are.
The weekly review needs to happen in the context of a bigger plan; where do you want to be in 10-25 years? To achieve your long-term goals where do you need to be in 3-years? What targets needs to be hit in 12-months to achieve your 3-year goals and what needs to happen in the current 90-days?
With your planning complete, here is a suggested agenda for a weekly review:
• What is my long term goal?
• What are my 90-day targets
• What prepress did I make on my key 90-day projects?
• Are the Key Performance Metrics on track?
• What did I learn this week?
• What did I do that shows me I can achieve my goals?
• What work did I get done this week?
• What do I need to get done next week?
Some tips for successful self-reviews:
• Book time in your diary for the weekly meeting
• Give yourself enough time to do it properly, maybe 90-minutes
• Go to the same place at the same time each week
• Do the review away from where you work, so you cannot be disturbed.
Feel free to add your own agenda items and think about having a shorter daily review as well as quarterly and annual reviews.
Image from Flickr by Rebecca Siegel.