Do You Plan Your Business For A 24/7 Life?
27th August 2019
The Responsible Business Owner - Part 2
You own your own business. It was what you’d always wanted to do. Here you are, living the dream.
If only you had time to enjoy it! There is always something to do and life is a constant juggling act.
If only there was another way!
You’ll be pleased to know that there is an alternative – and it all starts with a plan.
You are, I’m sure, familiar with business plans – both long and short term – which set out your vision for the business, the goals to take you there and then the actions that are needed to make it all happen.
Let me now introduce you to a different kind of planning: The 24 hour action plan
This isn’t called a ’24 hour action plan’ because it covers only the next 24 hours, or because it takes 24 hours to produce. No, the reason for its name is that it takes into account the whole 24 hours of your life. It is focussed on you as the business owner, rather than on the business as a separate entity.
Six steps to thinking differently.
The actions that comes from a business plan drive the direction of the business. In a similar way, the actions from the 24 hour action plan will drive the direction of your whole life. So it is well worth giving some time to the process. The steps covered in the plan are as follows:
- Set your goals for all aspects of your life. Do you want to take a holiday next year (a real one rather than working by remote in a different country)? Do you want to save for your children’s future? Do you want to pay off the mortgage? These are the real goals in life – your business is the means by which you achieve them.
- Know your why. Goals are great but knowing what that will do for you is the ‘hook’ that pulls you forward. If you achieve your goals, what will that mean for you and your family.
- Audit your current life. Look at how much of your time you spend at work and outside work, breaking it down into the different types of work and non-work you do.
- What do you want your life to be like? Looking at those same types of work and non-work as in the audit, how much time should you be spending on each for you to be living the life you want? And what is the difference between now and then?
- Set some targets. Knowing your numbers really matters, so create measures, based on the goals you have for yourself, which will tell you if you are making good progress.
- Build the actions that get you there. Over the next six to nine months, what would take you in the direction you want to go? By when? And who else needs to be involved?
Making it happen
An action plan is great – just so long as you remember to take the action. That sounds like an obvious statement but we all know how it goes. Things get busy and the good intentions of we set during a quiet moment soon get forgotten. So make sure you know how to hold yourself accountable.
At Grant-Jones Accountancy, the 24 hour action plan is part of the standard toolkit we offer all our business clients and that means we do regular reviews of the action plan to see what progress is being made and to see when the action plan needs an update.
To find out more about our business services, including 24 hour action planning, contact us to arrange an initial meeting.