Today we had our monthly board meeting with my business partner Ben and our directors Caroline and Geoff.
Running 3 business and working with 15 team members is fulfilling but not easy.
There are a lot of moving pieces of the puzzle at all time.
This is why it’s crucial to take time to track, strategise and assess.
Today I wanted to share with you 3 lessons I have learnt from today’s board meeting.
They will be useful for you and your business.
1) Know your numbers.
If you don’t know your numbers, how much is coming in and out, you will never be in control of your business.
Knowing your numbers will help you make better decisions because… NUMBERS DON’T LIE.
Having almost £30k x month of expenses and investing a lot of our money in growing the team, it means that we have smaller profit margins.
It’s a choice we made because of the goals we have with our companies.
This is why we have to be on top of our cash flow so we don’t put the company at risk, while still growing and serving our clients in the best way.
2) Look for progress.
If you have implemented a new strategy, it might not give you immediately the results you want.
Often it takes 3/6 months for something new to build the necessary momentum to give you a consistent return.
But as long as you can see improvements, it means that you are going in the right direction.
We implemented a new LinkedIn strategy, a new Facebook ad funnel with automated webinars and a new event strategy.
The first month we had a slight increase.
The past 2 months were our best months this year.
But still, we are not where we want to be.
But we can see we are moving in the right direction.
On top of that our clients are happier than ever before because we are able to serve them even better. (Which is the most important thing for me).
3) Take care of yourself.
You are your business greatest asset.
If something happens to you, your business will not function as well or not function at all.
Give yourself the time and space you need to make sure you can perform well.
Running a business is not easy.
You have to deal with ups and downs.
There are moments where you ask yourself: WHY AM I DOING THIS?
This is why it’s crucial you nurture yourself and your team to be able to face those tough moments.
This year was very difficult for us.
We let go of many things that were not serving us.
We made a lot of difficult decisions.
But they were necessary to grow to the next stage.
And there were a few moments where we did not how we could make it.
But we stuck together.
As a team.
As a family.
Learning from each other, innovating and always looking for solutions.
This is why turned around every challenge and came out stronger than before.
I hope this was useful to you.
I would love to know what lesson is the most relevant to you now.
I am looking forward to your comments.
TOGETHER WE GROW EXPONENTIALLY
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