Its six or so weeks to the end of 2017 .

Is your mojo in fine spirts ready for 2018?

Cast your mind back to the day you first got your :

  • your first lover
  • your first house
  •  your first mobile phone

Can you recall the excitement and fun that new event brought you?

Now cast your eyes to the first day you started your business. What was it like? Did you have that extra bounce, the drive and hunger to make a dollar? For many, it may be long ago and now a blur. For me, I can remember distinctly the day I opened my office from home and the excitement it brought when the office phone rang for the first time. Time flies along, and for me, the enthusiasm for business like many, can go from pure adrenaline to absolute fear and everything in between. However, overall as small business people we are the luckiest people in the world as we report to ourselves. Being your own boss is a fantastic achievement, but it does mean you need to look after your mojo now and again.

Where do you sit with your business and your mojo? Just like your love life, the love for your business can falter. It often falters because the mix is not right and the results are not there. Life experiences can impact how you treat your business. Factors life health, matrimonial problems and business partnership problems will dint the mojo in a significant and damaging way.

The three biggest reasons why you lose your business mojo

1. The money is not coming in!

2.You work from dusk to dawn seven days a week!

3.You can’t see the exit or the future for you!

Each of the above factors has a profound negative impact on not only your mojo but those around you. Like everything in life, you control the destiny. You as a business owner can be a hamster on a wheel or a racing driver in a Ferrari. The choice is yours along with the rewards and your future

So how do you get that mojo back? Look to the future RRR- Rest -Recharge – Reward. So what should be done?

Create an activity and set plans. Here are my essential items that will help polish up your mojo for next year.

1. Set Targets for 2018

Every small business needs a Revenue Target. It does not matter how big or small you still need a plan to embark on so you know the direction of your business . Set reasonable targets and each month monitor them against actual. Celebrate and track them. Don’t run your business like slithering snake that goes from sale to sale.

2. Rearrange the deck chairs

It is no different to when you come home and find your life partner has rearranged the lounge room. It feels good and gives that lift. It is the same with your business. Start in January and clear the crap and make the business place sparkle again. There is a reason why successful business does shop fit and office upgrade fit-outs. It just makes everyone feel that much better. Don’t over spend, but a lick of pain and bunch of flowers will make a noticeable difference.

3. Focus on your point of difference and then tell the world

In every industry, there are those that stand out. They stand out because they are industry leaders in what they do. They are above their competitors, and they are innovative. Look at what you do, what you produce and why. Can you improve the output? Can you innovate and be one step ahead of your competitors. Once you have determined this, you should embark on a campaign to do it.

Everyone says it but not that many do it “work on the business, not in it. Spend time, creativity and money in the marketing budget. There is a reason why Mac Donalds spends money on those prominent golden arches. It brings in the customers. It is time to make your business the best for 2018

If you are focusing on a new or revised product then set a target launch date. The excitement around a launch will enthuse you and set direction.

4. Focus on the future and YOUR long term exit strategy

Focusing on the exit strategy will result in a renewed mojo for the business owner. Work out where you want to be in five and ten years time. How will your business get you there? Spend time on focusing on you. Take that holiday, plan that big event and get out and enjoy. An Exit plan is like a light at the end of a tunnel. Planning will give you renewed enthusiasm and direction.

Your business mojo is so important . Staff, customers and family will sense if your mojo is not right. Many couples after a number of years renew their wedding vowels. Take the time to renew your business mojo before the start of 2018. Cast back to what worked when you first started your business. Revisit those things that made your business mojo feel so fantastic. If you have business partners make it a business mojo as well as a personal target and get them focused.

On your to do list for 2018, should include

  • Set 2018 Revenue Budget
  •  Review your website, google analytics
  •  Set holidays and leave for you and the family
  •  Set 5-year target
  •  Review the business premises . Declutter before you open the doors again for 2018
  •  Review you products and services and inject some life and innovation

Best wishes for 2018, the Chinese Year of the Dog. I know my dog never has a bad day and always wags its tail. Maybe if you make your mojo your priority, the tail will wag in your business too.

About Geoff Gartly

Geoff has been assisting businesses with their taxation and business affairs for many years. His practical advice has assisted his clients to grow their businesses and plan their financial future. To contact Geoff please call 039597 9966