As we enter into the festive season and we begin to think about winding down for the year, I wanted to ask you: Do you perform an end of year review?

This is an opportunity to take stock, reflect and take a look at the bigger picture.

It’s been another tumultuous year and depending on where you live, perhaps a return to more things that are ‘normal’ for you.

Whether this is a practice you do each year or if you’re new to it, I wanted to share my process for my business review…

You've likely heard the adage that it’s far easier to cross-sell an existing customer a new product than it is to find a new customer. And if your goal is to grow at all costs, then cross-selling makes sense.

However, all of that sales growth may not do much for the value of your company. If you cross-sell your existing customers too much, it could make your business far less valuable.

When you cross-sell a customer so many products and services that they begin to account for more than 15–30% of your revenue, expect your value to drop. If a single customer represents more than 30% of your sales, expect an even deeper discount.

Customer concentration is one factor that makes up your score on the ValueBuilder assessment — it’s one of eight drivers that’s behind the research determining your business's value in an acquirer's eyes…

I just had the pleasure of taking the weekend to do some hiking in the Cape Breton Highlands and let me tell you: If you’ve never been to Eastern Canada in the Fall, you’re missing out.

The leaves were stunning. Absolutely breathtaking.

It was walking through the woods, experiencing the quiet beauty and perfectly imperfect landscape of rivers and mountains that filled me with a peace that was so wonderful to experience.

It was there that I was able to be reminded of me; and what I’m wanting to accomplish. And how fortunate I was to be able to take these moments in a busy life to reconnect to that.

I’ve been working to create opportunities for more space in my work and calendar. Not only to work on projects that are important to me but to think more deeply about my work and how to improve on certain areas of my business. Particularly HOW I work.

What I’ve learned is space in my workweek leads to business growth…

Does this sound familiar:

You don’t feel like your time is your own, you feel pulled in different directions and there’s never enough time to do all the things you need to do?

And, this impacts more than you; it impacts your family, how much energy you have for other things in your life. You love your business, and want it to succeed, but sacrificing your health, your family, and relationships is not worth the price.

The reality is this: If you don’t take the time to decide what’s important to you, others will…

WOW - can you believe it’s the beginning of October already?

I can’t believe how quickly the year is going already.

The Fall is my favourite time of year with the changing of temperatures, the beautiful colours of the leaves and forests, and cooler sweater-weather (I love wearing sweaters!). And the food I associate with the fall are apples and apple pie, pumpkins and pumpkin pie and warms soups and stews with newly harvested veggies.

Thinking about the next few months also brings up thoughts about how I want to finish the year in my business and I know my clients think about this as well.

So what’s your goal for the remainder of the year?

There’s a relationship between the value of your business and the time you spend IN your business.

First - what is value to you?

What I hear from my clients is that value means you get to meet your financial expectations through your business.

Value also means that it supports their lifestyle expectations.

And, it fulfills them at a deeper level

When it comes to your business, value also means how it can be viewed from an outside perspective. Is it valuable to someone else who might purchase your business one day?

Consider this…

Are you making decisions aligned with your Mission?

First off, do you have a clear sense of your mission now? If you’re a business owner, what is your business’ mission?

If you’re a leader, what is your personal mission for leadership? What are you trying to accomplish in your organization? Is it aligned to your company’s mission?

If you are clear on your mission, then that’s the first step to ensuring that your decision-making is aligned and you move each day to fulfill your mission.

If you’ve ever had the thought:

“It’s too much work to take vacation, so I’m not going to bother,” then you need to read this.

How can we prepare to be absent from work or business without it causing too much stress so it negates the positive effects that time away can bring?

It’s about planning ahead and creating processes for the things you regularly do so they are more easily teachable and repeatable by others.

The more planning you do, the less stress going away will be.

Being able to articulate your company’s vision simply is powerful.

It supports your decision-making, how you lead, and provides a guidepost for your company to work towards.

Sharing it with your team, your clients and suppliers can be equally as powerful so people know what you’re about. People are attracted to doing business with companies that have passion and purpose.

If you haven’t articulated or written your business’ vision in a while, I encourage you to use this simple framework which includes what success looks like.

Here’s a vision framework for you to work with:

One of the reasons I see businesses plateau in their results is not funding, or lack of ideas, but resistance in letting go. Letting go and letting their employees do what they were hired to do.

And for some, simply hiring someone can be a huge hurdle to cross.

By letting go and increasing the responsibilities of those around you, you create one of the foundational components to growth and scale.

It can be difficult and challenging.

What does it often come down to?

Trust.

Trust in them, trust in your business as an overall entity, and trust in yourself.

When I started my business, and I started writing my newsletters and blogs, I found myself signing off with the words “NOW is YOUR time.”

It just happened the first or second time I started to write. Those words came out on paper naturally (I often write on paper first and then transfer to my computer; my writing seems to flow better that way :)).

I was thinking about these words recently and thought about what I meant by them.

And, what I was reminded of came easily to the page (again). NOW is YOUR time, for me means that it’s time to cultivate the courage to take your next step now.

Your next step could be…

As you work to grow your business, do you find yourself ever saying, “I’m not sure anyone else can do this,” or “what I do is so unique.”

OR, “I wouldn’t even know how to train somebody on this, I do it differently every time!”?

If you’re interested in scaling your business and growing your results, one of the most frequently raised topics of concern is about consistency and getting the rest of your team members to deliver.

“If I don’t do it, it won’t be the same client experience” or “We won’t achieve the same results.”

Some of these perspectives may be factual and some may not.

Even if it’s factual now, it doesn’t mean that can’t change.

As many locations begin to slowly open up, some faster than others, I don’t know about you but for me there comes a mix of relief and anticipation for the things we’ve missed: connection, hugs, seeing people we care about, traveling, greater sense of stability & security.

And, reservation and cautiousness. For me the reservation comes from, not wanting things to go back to exactly the way it was….I want to incorporate some of the changes and things I’ve come to carve out space for: a greater sense of my own purpose, more frequent consideration of my personal wellbeing, making space as a nuclear family in busy weeks, and more space in my calendar and shifting my relationship with time.

Have you noticed any of these things too?

Amidst the worry, anxiety, and fear of the past 15+ months, the challenges have been great. But, what came from that were new perspectives, new ways of working and being, new ways of relating with each other and much more.

Does your company bring you energy, increase your financial, emotional, and mental capital?

Or, is it sucking away your energy, and money you never seem to earn more of?

A business is a business when there’s equity to show for your investment. And has value to you and the world.

It’s painful to be reminded of the fact that life is short. But the gift in that reminder is to make the most of the time we have. That includes putting effort into growing your business so it provides the things you need it to provide for you.

If you’re putting up with drudgery, plateauing, or even putting off decisions, I’m here to say that there’s another way…

There’s a lot of advice out there on leadership and sometimes it can make one feel that we have to have things perfectly figured out to be a good leader.

So, I’m suggesting that if you feel that way too, let’s agree that we can let that idea go completely.

In fact, I believe that’s the beauty (or challenge) of leadership…much of the learning is experiential and you have to live it, learn it, and be willing to try things out. Some will work, some will not. And, some will be painful and messy.

However, I think the intention, effort, and a mindset of continuous improvement can go a long way in expanding your leadership skills and creating a high-performing team.

This is a collection of ideas to inspire you in your leadership to dig in and explore ways to take your leadership to the next level so you can heighten results from your team…

My mission is to support businesses to grow, scale, thrive and experience the possibilities of what a healthy business can create: an impact on the lives that use/experience the product/service, often going beyond only the user, creating a career and stability for employees to learn, grow and provide for their families, freedom and flexibility for the owner, and a financial nest egg.

The unique element that I bring to my work is my calm approach, simplifying complexity, and support in reducing confusion and overwhelm, which can crop up from time to time during growth stages.

I find one of the most effective ways to reduce confusion is by having a plan. Making a decision and creating a plan to make it happen. However, indecision and overwhelm can crop often up when we’re faced with a decision of some kind that we resist making…

Maybe the reason your business is wearing you out isn’t necessarily because you’re burning the candle at both ends, or worried about making your bills, or because of another late order arriving.

While these are all worrisome and tiring, these could be symptoms of a deeper issue.

It could be due to a lack of capacity and diversity in one or all of three key areas: employees, suppliers, and/or customers.

How dependent you and your business is on any one employee, customer, or supplier can be a real indicator of business health, how high your business risk is, and how you, as the owner, are shouldering the effects of this directly. And, if that one employee is YOU, well that would be a signal of a lack of capacity or diversification of employees and skills sets.

I was recently speaking with a business owner who is dependent on one employee (themselves!) who tried to hire another employee recently.

They said ‘it didn’t work out’ and ‘it wasn’t a good fit’. And, they doubted that there would be a good employee out there that could do what they’re looking for.

I probed a little more and it became clear that they really didn’t believe another person could do what they could do and could serve the clients the same way they could.

I have heard variations on this theme from a number of business owners.

So what’s the answer?

Take a look at the three areas I mentioned and see how your business fares in these areas.

Is your business satisfying your ‘WHY’?

In order to fulfill your WHY for being in business, the company you created has to be able to make the impact you had intended it to make.

Whether that’s impacting families through therapeutic approaches, providing housing for seniors, providing financial security for families, or helping others build healthy businesses, without your own healthy business, it becomes harder to fulfill that mission.

That’s why I love these markers of business value. It’s not only your own business you’re building, but having a healthy business means that you can change the lives of your clients and customers.

That’s the real and compelling legacy here and a huge reason why I do what I do. One of my big WHYs is to help you to be successful in growing a strong, healthy, and sustainable business that impacts others.

I’m deeply motivated to improve the lives of others through economic growth and supporting businesses that make a difference in our communities so we all thrive.

One of the markers of a healthy business is how cash flows through it. (This is the fifth driver of business value.)

One of the most common pains I hear from business owners is that there’s not enough cash. Or it shows up as their desire to ‘do more marketing’ or '‘increase sales’.

Is your business a cash suck?

Or does it generate cash quite handily?

If cash is rarely on hand in your business when you need it, you may want to consider exploring these areas:

I came across a quote that grabbed my attention and it’s aligned with some themes I’ve been noticing lately. Themes such as: putting time and effort in for a future reward, making commitments, and decision-making.

“Spectacular achievement is always preceded by unspectacular preparation.”

― Robert H. Schuller

I think of the athlete winning their race and how that’s accomplished on the heals of thousands of hours of early practices, doing drills over and over again until the movements are ingrained into their muscle memory.

The artist creating their beautiful piece only after years of perfecting their various brush strokes and meticulous mixing to achieve the perfect colours and shades.

The ballet dancer who makes a leap or a pirouette look as graceful as can be, like they’re floating across the stage; perfected after years of doing daily barre exercises.

What motivates a human to do those daily or regular, sometimes grueling or methodical behaviours and practices to move them forward to a goal, a vision, or a destination in the future?

In this series of understanding the different (eight be exact) drivers of your business’ value, today’s driver is really about what the future holds for your business.

First, I want to acknowledge all you’ve accomplished to date - building something from nothing, or taking an existing business and building it to the point where you are now. I know you’re not finished yet, but, it’s important to acknowledge how far you’ve come.

Congratulations!

Revel in the past rewards, accomplishments, awards, client success stories, and fulfillment you’ve enjoyed to this point.

Having a great history is one thing and while this can provide a wonderful sense of pride and fulfillment, someone interested in taking over your business in the future is not only thinking about where you’ve come, but how much is possible in the future.

In other words, your company’s growth potential.