As 2024 draws to a close, its time to review the year and make plans for 2025 - sounds odd doesn't it? 2025 I mean - where has the year gone?
As 2024 draws to a close, its time to review the year and make plans for 2025 - sounds odd doesn't it? 2025 I mean - where has the year gone?
We've had a few new tearooms open this year and a couple hold off a while while they take little steps in the right direction.
Below is the Year in Review we did in January, and the it still holds true...making time to work on your business rather than in it (and I know the holidays are THE busiest time for you tea room owners
Year in Review Coaching Session - Jan 2024 with Recovering Tea Room Owner turned coach - Tina Jesson
This is a great time to dedicate to working on your business rather than in it.
To get you out of the weeds and let yourself come up for air.
Stop: Reflect: Assess: Plan - with INTENTION
and see how your business will morph into the business you always wanted, without the growing pains.
AND I'll give you some insights and ideas from my own experience that you can use in your business.
Work along with the coaching questions below as you watch the video or when you make time to work on your business. The Profit Generating activities that you as a business owner NEED to be doing.
Here's what we covered:
Reflection on the Past Year:
Review Achievements:
List and celebrate the key accomplishments and milestones achieved in the past year.
Discuss what strategies or actions contributed to these successes.
Assess Challenges:
Identify and discuss the challenges faced during the year.
Explore how these challenges were addressed and what lessons were learned.
Financial Analysis:
Review the financial performance of the business, examining key metrics such as revenue, expenses, and profit margins and any other KPI's that matter to you that can show you why you got the results you did. No guessing. You NEED to know your numbers and get a handle on your business!!
Discuss any notable financial trends and identify areas for improvement.
SWOT Analysis:
Strengths:
Discuss the business's strengths and competitive advantages.
Explore how these strengths can be leveraged for future growth.
Weaknesses:
Identify areas of weakness or vulnerability within the business.
Discuss strategies for addressing or mitigating these weaknesses.
Opportunities:
Explore potential opportunities for growth, expansion, or innovation in the market.
Discuss how the business can capitalize on these opportunities.
Threats:
Identify external factors or threats that could impact the business.
Develop strategies to navigate or mitigate these threats.
Goal Setting for the Coming Year:
SMART Goals:
Work together to set specific, measurable, achievable, relevant, and time-bound (SMART) goals for the upcoming year.
Align goals with your vision and values.
Action Plans:
Break down the goals into actionable steps and create a timeline for implementation.
Discuss potential obstacles and develop contingency plans - that's how we manage risk in our business.
Skill Development and Training:
Identify Skill Gaps:
Identify any skills or knowledge gaps that may hinder business growth.
Discuss potential training or development opportunities for you and your team.
Networking and Collaboration:
Explore opportunities for networking and collaboration within the industry.
Discuss how building relationships can contribute to business success.
Personal Development:
Work-Life Balance:
Address the importance of work-life balance for you as the business owner.
Discuss strategies for managing stress and maintaining personal well-being.
Leadership Skills:
Identify areas for leadership development.
Discuss effective leadership strategies and communication skills.
Follow-up and Accountability:
Follow-Up Sessions:
Schedule follow-up coaching sessions throughout the year to track progress.
Adjust goals and strategies based on evolving circumstances.
Accountability Measures:
Establish accountability measures to ensure goals are met.
Discuss the role of the coach in providing support and guidance.
This structured approach will help guide the conversation and provide a solid foundation for planning the upcoming year.
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