As accountants, we’re good at comparing one year to the next and trying to better it. Your sales are up this year, your margin is down this year, your salary is up etc (you get the picture).
Often these comparisons anchor what we strive for – “all I want to do is better what I did last year”. Why not flip this around and instead of striving to better last year, strive for a specific goal or objective. The trick is to then measure the financial numbers which get you closer to this goal or objective.
If you’re wanting to work less, I’d expect your wages bill to increase. If you’re wanting to be more efficient, then your wages percentage should reduce. If you’re wanting more holidays, then count the number of days you’re taking off.
Life’s more fun when you’re working towards something specific, rather than just trying to better everything you did last year.
Without getting to philosophical, it’s no different to the guy wanting a better car than his neighbour, the bigger swimming pool, or a better holiday destination. At the end of the day, making the comparison only detracts from what we’re trying to achieve.
Instead identify what it is you want to achieve, and take satisfaction in making steps towards that objective.
What is it you want for your business and personal financial position this year? The answer isn’t always more money. Time off? Control of what you do and when you do it?
If you want to run through your plans for the coming 12 months get in touch, let’s grab coffee.