The Value of Reflection
Reflection – it’s defined as a look back, mirroring, and contemplation. It connotes elements of thought, feeling, and action.
We are often advised to “leave the past in the past.” But the past has immense value for purposes of assessment, learning, and growth. It’s the path that got you where you are today and connects to your path forward. I always advise my clients to prioritize setting aside some downtime – this month before the New Year arrives – to reflect on the current year.
Review the events of the past year with gratitude. Regardless of what you’ve encountered – and whether you count your experiences as successes or failures – they’ve caused you to grow, learn, find fresh solutions, nurture new relationships, know yourself and your business more intimately, reinforce what works, and discover what you might need to change. The past mirrors and contributes to who we are and to the vision and activities that define our work. Consider the following points.
Look back at your wins to help build momentum for the coming year.
- Consider what you did well and what contributed to your achievements and successes.
- Perhaps identify five specific ways to celebrate and mark those wins. Here are some ideas:
- Make a list of your wins, how they made you feel, how they impacted your business, who helped you achieve them.
- Buy yourself something meaningful to mark the success.
- Take time for some self-care by treating yourself to something that recharges you or brings you joy.
- Give back or pay it forward by donating to a charity in honor of your/your team’s success.
- Express your gratitude to the members of your team for their help in achieving your goals with a celebratory meal, gift cards, or other gestures that will be meaningful to those individuals.
Assess where you are and why.
- Am I where I thought I’d be?
- If not, why not?
- What can be done differently?
- What did I do well and what contributed to those achievements and successes?
- What areas need improvement and why?
- Did I have written goals for my business, including revenue and profit?
- If not, why not?
- If so, how did I perform against those goals?
Reassess and set new goals for the coming year.
- With your wins as your foundation, review how you might be able to build off of them for the coming year.
- Revisit the goals that weren’t achieved and explore how you might approach them differently.
- What are your financial goals for next year? Are they written down?
- What are your non-financial goals such as those related to employee or cultural initiatives?
- Find a way to mark each success along the way, as it happens, to help recognize and celebrate your forward progress – it’s also good for morale!
This is the time of year that we are striving to reach the goal line and it’s the perfect time for reviewing the past year and preparing for the next one. The Reflection process may be less formal than combing through documents and financials, but equally as important. It’s a wise use of a business owner’s time – in the present – to evaluate and plan. Planning today empowers you to start out the new year with a solid strategy for the future, built on both data and experiences from the past.
Now is also an excellent time to consider personal goals, which may include self-care and more time off to do those things you love or to enjoy with family and friends. Commit to live more in the moment and experience fully what life has to offer today.
When you step into the next year, continue to clarify and refine your vision for yourself and your business and stick to the path that will manifest that vision. Apply the lessons learned from the past, celebrate present wins, and implement changes that may be needed. Keep an attitude of gratitude – take time to move through the next year with eyes, heart, and mind open to those NOW experiences that make life rich and real.
I’m here to help. I’d welcome the opportunity to partner with you in the coming year to bring a big-picture approach to your business. My expertise lies not only in helping business owners understand the financial aspects of their companies, but also in helping to decipher overall growth goals and develop a strategy for achieving them. Contact me to schedule a complimentary consultation. And enjoy the holidays with those you love.
