Approach­ing a rail­road cross­ing when the train is on the near­by track, you are faced with flash­ing red lights, a red and white stripped cross bar, a big X sign that says, Rail­road Cross­ing.  DO NOT PROCEED is clear­ly the message!

You have the same kind of warn­ing sig­nals in your busi­ness, if you know what to look for.

Warn­ing Sig­nal 1

You are work­ing too hard and have no time. No time for fam­i­ly, no time for your­self, no time to do the impor­tant work that is required to move your busi­ness to the next lev­el. You are too busy tread­ing water to win the race.

Warn­ing Sig­nal 2

You are clos­ing deals, sales are sky­rock­et­ing, and you couldn’t be hap­pi­er with your sales team.  But month end comes around and your bot­tom-line is ane­mic.  Why hasn’t all this hard work trans­lat­ed into mon­ey you can take home?

Warn­ing Sig­nal 3

Peo­ple chal­lenges nev­er end. You can’t let go of this key task because no one else does it as well as you.  You just received an unex­pect­ed res­ig­na­tion and the mar­ket is incred­i­bly com­pet­i­tive for peo­ple right now. You get a call from a key ven­dor or cus­tomer who tells you some­thing you would rather not hear about one of your team mem­bers. The list can go on and on.

Noth­ing is more foun­da­tion­al, and more over­looked, than a best in class finan­cial system.

There are 3 pieces to a best in class finan­cial sys­tem.  The first are finan­cial plan­ning and busi­ness struc­ture tools.  These tools are all about get­ting clear and devel­op­ing a plan  for suc­cess.  They include your annu­al and quar­ter­ly bud­gets, key non-finan­cial goals, val­ue propo­si­tion and iden­ti­fi­ca­tion of your lever­age points. These tools pro­vide a clear plan with engage­ment from your team.

The sec­ond are mea­sur­ing tools.  These are tools that mon­i­tor, pre­dict and ana­lyze our finan­cial results and progress.  If you are mea­sur­ing the right things, you will get plen­ty of warn­ing so that course cor­rec­tion is sim­ple and easy.  Learn more about those tools from my last blog post here.

Third, you need an account­abil­i­ty tool box.  This includes the per­son­al account­abil­i­ty of the busi­ness own­er, as well as tools to engage and hold your team account­able to their out­comes.  Let’s face it, if no one is account­able, then noth­ing gets done. And when account­abil­i­ty is present, every­one is more clear and focused.

With these 3 sys­tems in place you’ll get sig­nals long before you run into flash­ing red lights and cross bars.

The per­son­al pay offs are that your ener­gy is freed up for tasks that move your busi­ness to the next lev­el.  Best of all you’ll have less stress and wor­ry and you’ll start to liv­ing the life you always wanted.

To your prosperity,