As a young busi­ness own­er with a fam­i­ly, oh how I want­ed sum­mer free­dom!  Even just a lit­tle bit!  My desire to go have fun with my daugh­ter was one more thing to fit into my already crazy days.

As the house­hold bread­win­ner and entre­pre­neur, I had so many respon­si­bil­i­ties.  I was busy work­ing in, not on, my busi­ness.  Each day I was pulled in so many direc­tions, I didn’t know which fires to put out first.

No need to make the same mis­takes I did.  Instead, make time for fun, the kind where you can real­ly kick back and enjoy. This blog is filled with tools I wish some wise men­tor has shared with me.

Here are four things you can do right away:

  1. Empow­er your team. Open book man­age­ment isn’t just a good idea, it is a way to engage your team in achiev­ing your busi­ness and per­son­al goals.  If you aren’t ready for shar­ing every­thing, start small.  Share key num­bers with each per­son on your man­age­ment team that they direct­ly impact.  Ask them for ways to improve the results.
  2. Use week­ly score­cards. Each team mem­ber access­es their results and reports up to you.  The dif­fer­ence in your send­ing a report ver­sus them send­ing one to you is own­er­ship.  Once your team owns their results, your life will get eas­i­er, fast!
  3. Use Trail­ing 12 months charts for your key met­rics. Trail­ing 12 month charts take laun­dry lists of num­bers and turn them into pic­tures.   Rather than deep div­ing into reams of data, use trail­ing 12 month charts to cre­ate visu­als for your data. Turns hours of analy­sis into min­utes!
  4. Devel­op a reg­u­lar rhythm to review your finan­cial results with your man­age­ment team. Go over the num­bers, then spend more of your time on what deci­sions or actions need to be made now to improve your results.

One more to put in place this fall so next sum­mer is eas­i­er:

  1. Involve your team in your bud­get process. Let them buy in to the bud­get for the areas they impact.  Clar­i­fy that your bud­get is your finan­cial plan for the year.  Del­e­gate respon­si­bil­i­ty for meet­ing the bud­get – or parts there­of- to appro­pri­ate peo­ple in your orga­ni­za­tion.  Then share your results against bud­get month­ly with your team.  Chal­lenge them to con­front obsta­cles as they arise, as they always do!

If you find you need help with any of these ideas, con­tact us at Info@MackeyAdvisors.com and we will put you in touch with a Pros­per­i­ty Advi­sors who can help. It’s a free call!

Now go have some sum­mer fun!

In joy,

Mack­ey