Reflect, realign, and renew: Planning Your Next Chapter in business
As business owners, there’s a temptation to hold off on planning until the new year. But I’ve found that planning early – before the holiday season sets in, can make all the difference when it comes to building a business that truly serves you.
Over the years, I’ve developed a process called Review and Renew, and it’s all about giving yourself the space to reflect on the past year and plan with clarity for the one ahead. It involves two key steps:
- Looking back for future fuel – The idea here is simple: reflection fuels your future. When you take the time to look back at what worked, what didn’t, and how you felt throughout the year, you gain the insights and energy needed to propel you forward.
- Planning early and taking a break – The second key step is about timing. I always advocate for planning in October or November, so you can let your ideas settle and give yourself a break over the holidays. Then, when you revisit those plans in January, you do so with fresh eyes and a renewed perspective.
Key ideas to reflect on and fuel your future growth
When it comes to reflection and planning, here are a few key ideas that can help you align your business for future growth:
- What energises you? – Start by reflecting on what has brought you energy, joy, and revenue in your business. It’s not just about traditional ROI – don’t discount the importance of Return on Energy (ROE). What projects, services, or clients were you happy to see on your calendar because they energised and excited you? And in contrast, what drained it? Your awareness is a guide to making more sustainable, aligned decisions moving forward.
- Wallets and words – Client feedback is one of the most powerful indicators of what’s working in your business. I like to break it down into “wallets and words.” Wallets refer to what clients have invested in, and Words are the feedback they’ve shared with you. By paying attention to what people buy and what they say, you can better align your services with what clients truly value, and identify new opportunities for growth.
- Revenue pie – Combine your gut feel with data and you’ll often make better decisions, so it’s important to know exactly where your revenue comes from. Breaking it down into a Revenue Pie helps you see which services or products deliver strong and consistent financial results and which might need more attention, or even phasing out. This exercise helps you develop a clearer picture of your business landscape.
- Self-leadership: aligning strengths and values – The yang to the yin of strategy is self-leadership, the shift from needing external validation to trusting your internal authority. A key aspect is honouring and leveraging your strengths and values as the foundation of your business core. Take some time to reflect on whether you’re operating from your core strengths and whether your business still aligns with your values. If things feel off, it might be time to realign. When your actions are grounded in self-knowledge, your business flows with greater ease and fulfilment.
Reflection, realignment, and renewal
As you reflect, take note of what you’ve learned. Take action on what you discover, and make conscious, intentional shifts to create the business (and life!) you really want. You don’t have to make big, sweeping changes, but consistent recalibration can have a huge positive impact over time.
That’s how to create a business that serves you just as much as you serve your clients.