HOW TO ASSESS THE GROWTH OF YOUR SMALL BUSINESS

STEPPING BACK TO TAKE STOCK CAN HELP YOUR SCHEME TO EVOLVE

Fern Freud has adopted a disciplined approach to growing her foraging business by regularly stepping back to assess what she has achieved, setting new goals and, if necessary, taking action to further develop her skill set. ‘When you’re working for a large organisation, there is often an appraisal structure in place,’ says Fern. ‘However, when you are self-employed, it’s easy to just keep working without reflecting on your journey.’

CLARIFY YOUR GOALS

Every six months, Fern takes a week off to analyse how her business is evolving. ‘I’m goal orientated and this time makes me focus on what’s working well, what may not be, and how I can improve my business,’ she explains. During these breaks,

Fern often reads to expand her business knowledge. ‘Books that have really helped me are The Chimp Paradox by Professor Steve Peters and Daniel Priestley’s Entrepreneur Revolution,’ she reveals.

Oxford-based business coach

Thalia Carr believes that taking stock can help entrepreneurs to clarify goals and gain confidence to become more effective. ‘It’s extremely important that you are running your business, and not to find that the business is actually running you,’ she advises.

CONSIDER BUSINESS COACHING

Thalia feels that coaching gives her clients the opportunity, time and space to stop and gain a better perspective with someone who is professionally trained to offer support, to help them find their own solutions. ‘A coach will often dig deep, asking questions to unlock the answers that are needed to move a business forward,’ she says. ‘It’s often easier to voice ideas and concerns with someone else, rather than internalising thoughts and worries.’

Thalia believes that it is important to schedule a regular coaching appointment, so that it is in the diary and will actually happen, rather than being postponed or forgotten about. ‘If you’d prefer not to go to a coach, make sure that you set aside a specific time to reflect undisturbed,’ she says. ‘You could do this walking along the seafront, or out in nature somewhere else, but you know yourself best. You may find that sitting down somewhere quiet with a structure to follow, and a pen and paper for notes, would be more fruitful and help you to focus properly on your business. Whatever you do and wherever you go, you need to regard this as business time, not leisure time.’

LOOK AT THE BIG PICTURE

Thalia ensures her clients are aligned with their core principles. ‘It’s very subjective, but they need to think about whether they are being true to themselves and their values, or if they have deviated off course,’ she says. ‘If they’ve strayed and the balance is no longer there, that is one of the many areas that I can help them to redress.’

Thalia is always keen for clients to reflect and learn from both their achievements and mistakes. ‘As well as highlighting the smaller wins, I would also recommend taking time to look at the bigger picture now and again. If you want to grow your business, imagining how this will happen and putting the best possible structures in place to help you achieve your goals will definitely reap rewards.’

Contact Thalia at thaliacarr.co.uk

The one lesson I ’ve learnt... THERE’S NO HARM IN GIVING SOMETHING NEW AND YOURSELF❞ DIFFERENT A GO. DON’T WASTE TIME DOUBTING