Redefining Resolutions: Crafting Your Business Story Beyond the New Year
“Tomorrow is the first blank page of a 365 page book – write a good one.”
This is a lovely quote from Robbie Williams, the famous British singer and songwriter – and I agree with him completely. This phrase suggests that we are the authors of our own lives, and we can choose how to shape our stories. It truly talks to creating what you want for yourself, your family and friends, and of course your business.
The New Year date has gone but in reality, every day is a new one. We make choices and have the opportunity design what we want every day. Now that’s empowering. Every day we have the opportunity to reflect on what we could have done better, what we did right – and of course what we forgot to do at all!
As business people – and all of us are whether employed or business owners – we apparently spend an average of 84,365 hours at work in our lifetime. Now this is based on an average of 35 hours a week – which I’m pretty sure many of us exceed! And doesn’t include overtime, commuting etc. (We also spend an average of 26 years asleep! – I just thought that was interesting!)
So, it’s worth planning what you really want to do in your business. After all the definition of insanity – ‘continuing to do the same thing and expecting a different result.’.
There are many approaches available but I wanted to talk you through the simple Four Step process I find the most useful when working with my clients.
Step 1 – Acknowledge the situation.
Involve partners, managers and the whole team in reviewing
What worked well in the last year/18 months
What didn’t work well
What didn’t we do that we should have done
In reflecting on the above think about the results or ‘outcomes’ of all of the above as well as the cause or ‘source’ that lead to those outcomes.
Step 2 - Take responsibility for that situation.
This is NOT about apportioning blame. It is about acknowledging your role in the outcome and learning from your mistakes. Taking responsibility can also help you gain a higher internal locus of control, which means you believe you have the power to influence your life and circumstances
Step 3 - Create a Vision for 2024/25
The owners and leaders should create and then articulate a picture of a destination around which ALL are aligned and energised.
This process should then include the whole team so that all are engaged and excited about the direction of travel for the business, can see the part they play in it – and have a picture of what they can achieve in supporting the business moving toward that vision.
Step 4 – ‘Act as if’
Clearly a clear set of strategies need designing and implementing in starting the movement toward the Vision. It can include such things as:
Culture strategy – getting our culture right so we work together – both internally and externally with the right values and behaviours.
Revenue strategy around positioning, channels sales etc
Functional strategy – getting the right people doing the right jobs in the right way
You don’t need to wait until the strategies are written and implemented – you can chose to ‘Act as if’ you have achieved that vision/strategy NOW.
Breda says:
I’m not naïve enough to think we can control everything. If the last few years has taught us anything it’s that there are lot of external factors happening that we can’t change – wars/conflict, pandemics, economic shifts, Brexit. And we got through it!
2024 will bring new challenges - increased employment/labour costs, increased cost of living, general elections and more international conflict. And closer to home there are additional challenges facing the luxury property sector:
Finding and retainer high calibre staff in a growing sector – where the calibre is not growing as quickly;
Delivery ‘luxury’ to UHNW clients with high expectations – in a SUSTAINABLE way. The materials, processes and methods of delivery don’t scream low carbon footprint.
Generations of skilled craftsman have and are retiring – and the younger generation are choosing other career paths
I'm sure many more will be discussed in the upcoming The Luxury Property Forum's January webinar.
New Year Reflections
We can’t impact on some of these issues but you can plan for them! It also increases the importance of planning your strategy for the things you can control – and how you respond to those you can’t.
Take some time out of the day to day to reflect on your business, your industry, your year ahead – and write a good one - commercially, culturally and personally.
Have a fabulously successful 2024. I know you already are! Its starts today…and tomorrow and the next day!
about breda
Breda Ferarrio, founder of Ferarrio Consulting, is a coach and consultant for business owners, boards, and leadership teams.
She has 20 years of experience in helping SMEs and mid-tier businesses grow.
She works in various sectors, such as asset management, luxury market, trade associations, and manufacturing. She helps her clients resolve conflicts, align visions, create strategies, and increase valuations. Before becoming a coach, Breda was a senior executive at GSK and BBC, leading major change projects. She has a business degree and is a member of several professional bodies.
About Ferarrio Consulting
Ferarrio Consulting, a leading firm, specializes in tailored business coaching and consulting services designed for business owners and leaders. With expertise across diverse sectors, including asset management, luxury markets, trade associations, and manufacturing, they assist clients in strategic planning, conflict resolution, vision alignment, and valuation enhancement.
Renowned for their commitment to excellence, Ferarrio Consulting also offers mediation services and executive development programs, ensuring a holistic approach to organizational growth.
get in touch
For more information, or to speak to Breda, please contact: breda@ferarrioconsulting.com
T: +44 (0)7801183157
Visit Ferarrio Consulting to book a consultation.