Reflect – What Have You Learned From Your Business
It is thrilling to look back and reflect upon what you have learned from your business this year. At the end of every year business owners spend time gathering all their records together to prepare for the visit to the accountant and tax time. It would be good to spend time at the end of the year reflecting on the things you learned from your business over the course of the year. This is an important thing to do because you can build upon the lessons you learned today when taking action tomorrow.
Almost everyone has heard the expression, “those who forget history are doomed to repeat it.” This expression has a place in the life of your business. Take time on a regular basis to see what you have learned from your business. In an ideal world, an entrepreneur would sit down once per month and make note of the lessons learned over the course of the month. By that I mean literally sit down and take notes. If this is not possible in your business, make the time at least once per year to actually take notes and make a record of the things your business has taught you over the past year.
These notes serve many purposes including:
- Confidence boost - it will do you good to realize that you have grown and developed useful information while operating your business
- Teachable moment - the lessons you have learned over the past year will help you teach important ideas and principles to your employees, staff and others
- Additional revenue stream - often the lessons we learn while operating our businesses are lessons that other are willing to pay to learn via paid speaking engagements, books and teaching positions
It is hard to move forward with firm and sure footing if you are not aware of from where you are starting. It is important to take time to reflect and learn what your business had to teach you over the course of the last year as you plan for the next year.
In conclusion, it is thrilling to look back and reflect upon what you have learned from your business this year. So, the question for you is, what have you learned from your business this year?