Here we are in the second half of the summer with temperatures setting global records each day. For many, this is the time to dial back the intensity of work schedules and commitments. We understand that the appeal to step away and slow down is strong; however, this is precisely the time that AcceleratingCFO encourages our clients to do some important and well-timed work. For all of you gardeners out there, the tasks we propose are tantamount to pruning and cutting back dead weight in order to restore and stimulate plants’ overall health — the same concept holds true for businesses.
So what are some of the actions that we encourage our clients to do during this point in the year?
- Ask: In the 1970s, Ed Koch, who was Mayor of NYC, was famous for greeting people in the street and asking, “How am I doing?” It was an endearing way to elicit direct feedback on his performance from his constituents. Scott and I always try to meet with our clients in person as much as possible to not only to discuss budgeting and forecasting, but to also create connections and tight bonds. We also like to ask these types of feedback questions — and encourage our clients to do the same with their customers.
- Read: Reading is always a great excuse to sit outside, relax a bit, and develop your personal and professional self. Both Scott and I enjoy reading, particularly biographies about business leaders, both current and historical, political world leaders, both American and global, as well as self-help books by authors such as Simon Sinek and Brene Brown. What you read is not as important as reading itself. Reading allows us to clear our mind and step away from whatever we are doing — and may inspire a fresh perspective on current business and personal situations. And in our ever-evolving and complicated day-to-day life, entering a make-believe world can sometimes be a welcome distraction.
- Finish Strong: Between welcoming kids home from camp, sending your young adults to college, or planning a last minute family vacation before the summer ends, September will be here before you know it. And when September rolls around, many of us experience the onset of panic when we look at the calendar and realize that there are only four months left and we still have goals to accomplish! In addition, the fourth quarter is often the time when we start planning for 2023 — specifically how to accelerate our business and personal growth in the coming year. Don’t lose sight of what is coming down the pike and take actions to set yourself up for success.
Recharging our batteries is important, clearly. But it’s also important to understand why we are recharging them and what the focus will be when we resume. There is no reason to wait until a magical deadline to start your second half push; but know that when you do, the time spent reflecting on yourself and your business will illuminate what steps you need to take and the speed with which to take them.
Take-away: If you’re wondering how your current fiscal year is going to end and don’t know how to properly budget for an even better 2023, reach out to Brian or Scott at email@example.com.
Co-founders & Managing Partners