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Business AssessmentsTip: Jud Griggs, CLP, of JP Horizons, Inc., advises all business owners to conduct an honest business assessment after the midpoint of the season. Summer has come and gone. The Fourth of July usually signals the midpoint in a landscape contractor's season. After that, most people in the industry start to take some time off to recharge their batteries after a long and crazy spring season. Time off is, by the way, something that should be required for every business owner and manager. By taking a few days off, I guarantee that you will come back renewed, reenergized, and able to see things much more clearly. The other critical thing that should be done when the season is about half over is to take an assessment of how your business is doing. By that point, you will have six months of financials to review, which will help provide a clear picture of how your business is progressing and allow you to start asking some tough questions, such as:
The midpoint of the season is an opportune time to make the adjustments you need to make to ensure success for the year. Contrary to what many people think, it is not too late to do this. Businesses today must be agile and able to change according to the business environment. It is okay to admit that some of your processes, systems, and/or people must be changed. The sooner you begin making the moves, the sooner you can get back on track to meet your goals. Waiting only postpones the inevitable. The hardest part of this process is asking the right questions and then answering them honestly. You can do this by getting away from the office and doing some honest self-assessment of the business. This assessment requires you to be brutally honest with yourself. Ask your management team the same questions and get outside perspectives by asking your key clients, calling someone in your business network of friends, or bringing in an outside resource or business consultant. It does not matter who you call or how you do it. Just getting started on the assessment is the important thing. Make sure the assessment is an honest assessment of where your business is. Only then will you achieve true success! By Jud Griggs, CLP JP Horizons, Inc. Naples, Florida jud@jphorizons.com
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