It’s the end of the tax year today and the beginning of a whole new quarter in your business!
How exciting! This is the perfect time to review what went before and where you want to be going.
Reviewing the year
Let’s talk about money!
At this time of the year, one of the biggest things you’ll want to review is money. I want you to be really clear about the financial health of your business. Whether you earnt £1,500 this year of £55,000 it doesn’t matter. What matters is that you have a clear view of what is going on.
It’s difficult to set financial goals if we are hiding from the money issue.
From a law of attraction point of view, if you are literally hiding from your finances, you’ll be hiding from finances coming to you as well!
So use this time to get a clear idea of how financially successful your business has been in 2018-2019.
I use a spreadsheet to balance my books – with all the in’s and out. But I’m a little bit naughty and I don’t fill this out until the year has ended. I’m definitely in the camp of a big folder full of receipts and paper that I need to sort out at some point!
What I do though is have a big white board in my office that is split into 12 sections and at the end of each month I do a quick tally in my business bank account of money in and money out. So I have a top line view of my profits.
Cara Holland from Graphic Change gave me this advice years ago, and it has transformed my view of the money in my business. My finance aren’t tucked away in a folder or in a spreadsheet they are hung up in my office and remind me of where I need to save and where I need to earn more to make my goals – I highly recommend it!
I also use a spreadsheet at the end of the year to see in detail what’s coming in and out of my business. All the maths is already in there, so it helps with my tax return to.
Click here to grab my spreadsheet! Don’t touch the fields with 00 in – they are the fields that have the maths already built it!
12 questions to review your year
Here are 12 questions for you to answer to support you to review your year. Take your time to go through them and answer honestly.
1. Looking back what have you been most proud of?
2. What one thing made the biggest impact in your success last year?
3. What have been your best-selling products or services?
4. What social media platforms gave you the best results?
5. What relationships have you grown this year (both online and offline)
6. What goals (if any) did you start the year with?
7. Which goals have you achieved?
8. Where have you struggled this year?
9. What didn’t feel so good last year?
10. What will you do differently this new financial year?
11. What is your biggest learning from this year?
12. Dreaming big – where would you love to be in April 2020?
Some of these questions are taken from one of the workbooks for the Indie Freedom Seekers Community. Interested to find out about joining and how it will help grow your business?
Next week I’m going to be asking you to spend some time dreaming about your business and setting some 90-day goals for the next quarter – so keep an eye out for that!