When entrepreneurs first get started, they usually ask a lot of questions. Everything from how to get started to the best way to hire employees pops up. These questions are imperative in helping to get them on the right course and get them started. But something happens not long after that – they get comfortable, and they stop asking questions. By not asking questions your business may be suffering, especially if you are not asking the right questions!
Self Evaluation
Most entrepreneurs fall into a trap of doing the same thing over and over. This can be problematic because if your business is struggling, you are simply doing the same thing over and over, yet probably working harder and harder. Every business should be asking a couple of questions in order to make sure they are on the right track. Not doing so could be holding you back from growing your company, or it could be sending your business down the wrong path.
Here are the two most important questions that every entrepreneur should be asking every 90 days:
- What have I done in the last 90 days that is bringing in results?
- What have I done in the last 90 days that is not bringing in results?
It is just that simple. Put it on your calendar as a reminder, and then every 90 days ask yourself those two questions. Be honest in your assessment so that you really gauge where things are going and where they need to go. Look back over everything you did over the last 90 days, such as advertising, promotions, projects, etc. Determine whether these things helped your bottom line, did nothing for it, or even hindered it.
Action from Answers
Once you have a good assessment of these questions, you are ready to do something with the information you have discovered. With the answers to these two questions, instead of staying stuck in a routine of just working harder on both, take this new action:
a) Start doing more of what is working. You want to really amplify this.
b) Do what you can to do less (or ideally none) of what is not working. Try to alleviate this.
When you do this, you will help keep your business on the right track. Every 90 days you will determine what is working, what isn’t, and make some adjustments that keep you on the right path.
Right Routines
As a business owner there is no doubt that you get into routines. But a lot of those routines just keep the status quo, rather than actually doing something to make things better or further your success. No matter where you are with your business, you can always benefit from asking yourself the questions above and taking action from the results you learn.
Rather than getting into routines of just doing the same thing over and over, get in the routine of doing this evaluation every 90 days. With a routine like this, and putting it into action, of course, you can’t go wrong. Think back to the beginning with all the questions you used to ask. Now it comes down to two very important ones that will help grow your that business, which you asked so many questions to get started!
By Mike Michalowicz, Author of The Toilet Paper Entrepreneur
