Every year we grow and evolve as business owners. We experience a range of emotions… moments of joy, excitement, frustration, nervousness, success, mistakes and learnings.

Finding the balance between envisioning the future, and acknowledging the past, whilst being proactive in the present, can be difficult.

As we approach the new year, it’s a great time to consider what the last 12 months have been like.

You can call it reflecting/taking stock/journalling/whatever you like but a moment of introspection gives you great insight into what to celebrate and where you can improve.

Firstly, it’s important that we define what true reflection means (hint: it doesn’t mean beating yourself up about things you could have done differently or mistakes you made). What it does mean, is appreciating the journey and practicing mindfulness.

So here are some questions that can kick start this process for you:

• Where did you succeed?
• What did you enjoy most?
• Who did you love working with?
• What did you try for the first time?
• What felt like a crazy idea, but paid off?
• What took too much of your time?
• What is one thing you’d do differently if you could?
• Did you achieve your goals?
• What was one of the best lessons you learned?
• What do you need to stop doing?
• What are your goals for the new year?

These questions will be super helpful in directing your thoughts. Consider writing them down so that you can keep track of your accomplishments, ideas and experiences. Use them as a guide to look back on as you move through to a new year and another year in business.

Another way to reflect well, is to do an overall analysis of the year, in a creative way. Use the following questions to help you do this:

• If the last year was a movie, what type would it be?
• What is one accomplishment that you are proud of?
• If you could use 3 words to describe the past year, what would they be?

Now that you have your answers, it’s time to gain insights and identify your ‘takeaways.’

Think to yourself, what was the overall emotion? Did you do better than you thought? Do you feel a strong sense of regret? Pin-pointing these things can help to set you up for the New Year in a way that avoids past mistakes and pain points.

Some of the most powerful tools in business are our own self awareness and insights gained from introspection.

Allow yourself the time and space to access it.

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About Your Accounting Sanctuary

YAS is a boutique accountancy firm in Sydney that empowers passionate people to build businesses, stress free.

Forget everything you know about old school accountants and make way for a new era of approachable, fun and strategic advisors who prioritise your business dreams.

The YAS experience means that your financial stress doesn’t keep you up at night and instead, you feel relieved and relaxed that your numbers are being nurtured by the professionals.

If you are a business owner with a terrific team and hope for business growth, book a free discovery call with the YAS team today.