When work finally slows down for a week or two, perhaps after a hectic holiday season, take advantage of that time to fine-tune your small businesses for higher performance.
Too often the cliché holds true that if you are busy working in your business, you’re not working on your business, observes Jones Loflin, speaker, trainer and co-author with Todd Musig of Getting to It! Accomplishing the Important, Handling the Urgent and Removing the Unnecessary.
Here are four recommendations from Loflin for what to do with that time:
Evaluate. Step back and gain some perspective on the business. Talk with key stakeholders about how you and they feel the business is going. Ask, “What word or words would you use to describe the business?” Loflin suggests.
Think about the lessons you have learned in the businesses, and both the challenges and opportunities you can foresee. That will aid your planning.
Communicate. Instead of the transactional conversations you have with vendors and partners when work is busy, have relational conversations. Be specific in telling them what they have done to help grow your business. Then ask what ideas they have for strengthening your relationship in the coming year and building on your collaboration. They may propose new initiatives or ways to improve productivity and efficiency.
Talk with employees about their successes and challenges over the past year. Ask, “What two or three things could I provide to help you be more productive?” “First of all, they are going to be shocked you asked,” Loflin says.
Don’t worry that they will ask for more money or make outrageous demands. “They know what they need to be more successful in their job,” Loflin says, such a simple change in a computer program or a procedure change that will improve efficiency. Because you ask, they may feel comfortable telling you about problems you didn’t realize, such as a broken chair. “A lot of times they just appreciate being asked,” he says.
If outside contacts in your network are still very busy, set a time to connect with them later.
Plan. Based on what you learn from the first two actions, establish your goals and priorities for the weeks, months and year ahead. You may decide to launch a new product, revamp your marketing or hire more staff.
Once you have set your goals, determine what two or three things you could work on right now that you would put you ahead of schedule in reaching those goals.
You may be able to train staff to take on one or more of the responsibilities you currently handle, freeing you to spend more time growing the business. Another option is to tap outside expertise to complete assignments. Lofin says he often turns to the websites Elance or Guru to hire freelancers for his small business.
Celebrate. Enjoy the success your business has had and motivate yourself, your staff and your partners for the work ahead. Recognize the efforts that have contributed to where your business is now and will help drive it forward.
Also take time to celebrate with your family and relax, perhaps pursuing a hobby or other outside interest. “Small business owners are notorious for taking care of everyone’s needs but their own,” Loflin says.
If possible, take a few days of vacation, he says, observing that it often takes him a day or two just to “unfold.” Your break can benefit the business too, Loflin says, showing employees that you trust them and have confidence that they can handle the business. “It does wonders for morale,” he says.
The actions you take during your slow season can set your business on a course for greater success throughout the year.