For many of you finishing taxes is a breath of fresh air. You celebrate by packing away all your documents and resuming your life. What if you set aside time to review your last year from the 10,000-foot view. Doing this can in a sense be like the spring cleaning we all need.
Start by celebrating all that you achieved. Take a moment to document accomplishments that you have made. Did you improve the operation of your business or make more money, increase your portfolio, pay off debt, save more, take more time off with your family, improve your health? This review will help you honestly look at the return on investment of your time and energy.
Review your income producing activities. Take a few minutes to review your streams of income. What was your return on investment? This ROI includes time and energy invested. In my case there are four streams of income that occupy my energy and time.
Realtor Based Commission – Time/energy spent, and monies earned.
Investor – Rental Income
Investor – New Acquisitions
Coaching/Training Business
Take a moment to consider these and ask yourself two questions:
1. Is the work I am doing in this business bringing me a return-on-investment worthy of my zone of genius?
2. Do these bring me joy and reward?
Review Expenses – Well spent monies will grow your business while those hidden rogue expenses will not. Redirecting these monies will put more money in your pocket. Auto drawers for services that I no longer use are an example of rogue expenses. What if I made a list of these and stopped them and then redirected the monies to a more valuable place. That is money that could be redirected to building your reserve account or investing in more useful ways.
What plans do you have for the new year:
• Invest in yourself – education to enhance your profession.
• Improvements to your business operation
• Investments – will you be purchasing more this year, or will you be improving what you have.
• Investments in your family and your time to recharge.
Make action steps out of the discoveries that you have made. What a refreshing feeling it is to make efficient work of these discoveries. For example, list those rogue auto draws and identify clearly when you stop them. Identify what you will do with the monies you will save. Be specific about designating them. Make a list of the ways you will invest in yourself and get them scheduled. If your review of your streams of income revealed a need for a change identify the action steps needed to make that happen. There is no time like the present to design the life you imagined!
Spring Cleaning – for Business
