January is a month surrounded with many stigmas. For many it’s a month of new beginnings and a fresh start. Usually instigated by those resolutions. For others it is the single most terrifying month in the year.
For many entrepreneurs it is the month that followed festive chaos… the month where customers are in hibernation when it comes to both new business and payment.
Related: Goal Setting Guide
So, the question is – how do the first mentioned few make this positive mind shift?
1. There is time for true reflection not procrastination
A diagnostic exercise is crucial from a legal perspective. This is where we identify and assess risk. Entrepreneurs need to know their businesses.
Knowing your business means that you know whether change is required. In addition it means that risk can be identified and limited.
Importantly it is not an exercise that entrepreneurs should embark on alone. The input of a professional in the relevant field is crucial in my view.
2. There is more time, for action driven planning not for deferment
Once risk and required changes have been identified, it is important to carefully plan the manner and timeline for addressing these items.
These changes may include revision of agreements, changing the structure of the business or may even be operational in nature. Regardless of the nature it is crucial to prioritise.
Again, it is key to obtain the input of professionals and where appropriate your team, when deciding on your implementation strategy and timeline.
3. Ready, steady – go
This in my view, is here where dedicated follow through is crucial, irrelevant of the timeline of implementation. Without effective follow through risk will not be limited as was the purpose of the entire exercise. This may compromise the success of the business.
Related: 6 Surefire Ways to Realise Goals
We firmly believe that prevention is better than cure! So, when you start or why don’t you start your new year new challenge process?
Contact us! We are the preferred law firm for entrepreneurs. For more information about our business assessments, please visit: http://www.schoemanlaw.co.za/get-your-very-own-legal-goalkeeper/