This simple tool is a great way to evaluate problems in your organization through an objective lens. Grace will explain how to identify your Strengths, Weaknesses, Opportunities, and Threats, when to use the PESTEL tool, and which steps you can take to get the most out of this tool.
Keep reading for a full transcript of this episode (with bonus images and links!)
How well did your business do this year?
Answering this question can bring up a lot of emotions, especially if things did not go as expected. You might feel the pressure of setting end-of-year deadlines. Looking back can result in guilt if we didn’t reach our goals, or anxiety about setting new ones.
Many business owners feel a tug-of-war between accomplishing daily duties AND stepping back to see the “30,000-foot view” of their company. But even though it can be really scary, doing a Year In Review is very helpful. That’s why I recommend taking time to look back at what happened using data that is quantitative (numbers) and qualitative (experiences). Once you review the results (good and bad), you reduce the risk of failure by making adjustments to your plans for the next year.
Here are six helpful resources to guide you through the process.
Continue reading “6 Resources That Can Help You Analyze the Past Year”
Another year has come to a close.
It’s time to reflect on how 2018 went.
And that can feel… like getting your teeth drilled at the dentist’s office.
I’ll admit, as much as I believe in how great the Year In Review process is, that doesn’t make it entirely pleasant to actually experience. But the benefits make this sometimes painful process worthwhile.
You’re invited to read my analysis of what happened—good and bad—for my business in 2018.
Some years, things go really well.
And some years, they do not.
If you’ve experienced a lot of difficulties in your business, you may be tempted to see it as a massive failure:
“What a crummy year! It was so terrible. I can hardly wait for it to be over.”
“The new year can’t come soon enough.”
Even you were not able to meet your strategic business objectives this year, I encourage you to consider the positives that happened, rather than speeding past it.
Continue reading “What to Do If Your “Year In Review” is a Disappointment”
What are you scared of?
As humans, we are biologically hard-wired to treat every perceived threat in an extreme way, with one of four reactions:
I was recently asked to explain the “Impact Score” in a Strategic Risk evaluation process. This is easy to do with a tool called the Strategic Risk Severity Matrix.
In this post, I’ll walk you through each step of using this tool, along with a practical example to demonstrate how it works.
Continue reading “How to Calculate the Impact and Probability of Business Risk”
In part 3 of the series about Frequently Asked Questions on creating a sustainable Company Culture, we discuss the benefits and downsides of social media.
I’ll also share my secret to finding balance as a business owner.
Watch the recorded video here, or reading bonus-filled content below.
What is an employee worth to you?
Not just their ability to generate sales or produce a measurable outcome, but also in terms of the experience they provide, and the emotional impact they make?
How can we calculate the degree of value an employee brings to a company, and what we lose when they quit?
Previously, I discussed ways to increase Risk Intelligence after staff turnover, and how to calculate the financial impact.
In this third segment, I explain hidden values employees provide, the 9 things we lose when an employee leaves, and simple ways to calculate the cost of quality.
Continue reading “How to Estimate the Qualitative Loss From Staff Turnover”
Conducting a “year in review” process is incredibly helpful.
But it can also be excruciating, because looking back at the good & bad of the past year forces us to confront uncomfortable realities. It serves as a window to evaluate goals, examine priorities, and identify where we’ll focus our energy in the coming year.
In this post, you will hear how my Year In Review has strengthened me as a business owner. I’ll share what happened for me professionally in 2017, what worked and what didn’t, and some lessons learned.
Facing the good and bad of the past year takes courage, especially in re-living painful experiences. But self-evaluating the highs and lows in your past year is just the first step.
Sharing your findings with the entire world takes it to a whole new level.
In this post, I’ll talk about the benefits and downsides of making your Year In Review public, and why we’re afraid to fail.
Continue reading “5 Reasons to Share a “Year In Review” of Your Business”
