I have a confession to make. I have not been in the habit of looking back on what I have created in my business.
I’m not sure why that is. I look back, often fondly, at things I have created in other areas of my life. I enjoy looking back at old photos, old drawings, and old stories. Creative expressions often bring a smile and a bit of nostalgia.
But looking back on my business hasn’t felt light, or fun. It felt like work.
Maybe, it’s because back when I was in corporate accounting, my job revolved around the month-end, quarter-end, and year-end reviews. It was laborious, stressful, and challenging.
There was a familiar pattern to the review, too. Three weeks out of every month were devoted to the review. The week before the period-end was preparation. The week of was the actual closing of the books and all the work involved in that process. Then the week after was devoted to looking back at what we discovered.
What had changed? Where were we better off? Where were we worse off?
Although the experience was stressful, it was also beneficial. Due to our work, we had a clear vision of where we were currently and where we were headed.
It’s been years since I did a full month-end close.
I have been in the process of looking back at the end of the year, though. A tool I often use for that process is the Year Compass, which is more of a journal-writing process.
Each year, I feel like my business takes a leap forward as I gain insights from the review and make plans for improvement going forward.
What if I could have more frequent leaps forward? Instead of waiting for the end of the year, I could do a similar process at the end of each quarter.
I began looking up resources to help me do that. I knew I didn’t, and honestly couldn’t, do the same as I had in corporate. I don’t have the resources of a multi-billion-dollar business. I also wanted the experience to be fun, light, and easy.
Could I figure out a way to make that happen?
Following my intuition, I pulled out some Post-it notes and labeled them with important areas of my business. Then I wrote a few words on each of the Post-it notes that would summarize my insights and experiences from the first quarter of 2023. Finally, I expanded upon those few words on the Post-it notes in a journal fashion.
Within about fifteen minutes, I completed my review of the quarter.
It was fun, light, and easy. After completing the exercise, I was enthused about the lessons I learned this first quarter. I have some areas for improvement and some progress that I had overlooked. I am also excited to take what I have learned from this quarter’s review to leap forward with greater intention, clarity, and enthusiasm into the second quarter.
Shine brightly!
Stef (xe/xem)
Golden Nuggets
Golden Word: coordinate from Latin com “with, together” (see com-) + ordinatio “arrangement,” Example: They coordinated their content to provide clearer guidance for their clients.
Golden Quote: You live life looking forward, you understand life looking backward.
– Soren Kierkegaard
Golden Speech: Process feedback with a strainer, not a sponge | Learning and development leader, Dr. Shanita Williams, explores whether to use a sponge or a strainer for receiving and keeping feedback. (Preview 22 seconds)
Golden Statistic: The percentage of US adults who would correctly answer questions about financial concepts dropped by 8% between 2009 and 2018. (Moneyzine)
Golden Term: focusing effect is a cognitive bias that occurs when a person places too much importance or emphasis on a selected detail rather than considering the “larger picture.” (AlleyDog)
Golden Tip: Don’t wait for the end of the quarter to look back on your progress.
Golden Question: What valuable insight from the first quarter will move you forward?
Golden Resource: 15 Minutes to More Prosperity. A quick and easy way to review the highlights of the past quarter. (Download as PDF)
