Every business owner wants to maximize profitability and cash flow. But we often get confused on where to start or what to do. We’re not sure if the decisions we’re making are helping or hurting. Should we just leave profitability to luck or does it take a disciplined, thoughtful approach?
I love to play golf. When I hit a good shot, I often say, “I’d rather be lucky than good.” Upon reflection, why would I say that? If I leave my good shots to luck, then why practice? Why waste my time on the driving range or on the putting green where I’m trying to get better? The same is true in work as it is in life. We don’t leave our profitability to chance, we take a disciplined approach. In my work, I’ve used the 10-3-1 rule; if I see 10 clients or prospective clients, I’ll have 3 proposals, and 1 engagement. That’s a disciplined approach I’ve used for the past 20 years. I know it works. I don’t want to leave my personal life or my work life to luck. I choose a disciplined approach, because I know luck just won’t cut it.
Many of us are big on calendar blocking. It helps us stay organized and manage our time effectively. But, have we ever thought about just leaving white space on our calendar when blocking? In our fast-paced, meeting-packed work life or our endless to do list personal life, do we ever stop and take a break?
EOS calls these “Clarity Breaks”. All of us should practice taking time away from our business to rise above the everyday demands of our jobs and reflect and work “on” the business instead of in it. This is not time to catch up on email or complete a to do list. A couple of items to reflect on might be:
- Do I have the right people in the right seats in my firm?
- Is my vision and plan for the business on track?
- Are my processes working well?
Let’s ask ourselves, are we meeting too much? Ask our employees too. Their answers might surprise you. Are you leaving anything in your business or life to luck or do you have a disciplined approach? Start creating some white space on your calendar and reflect where you can change from luck to a disciplined approach.
