Is your business decision-making motivated by pain or pleasure? In my experience all business decisions are motivated by either the pleasure of moving towards something or the pain of moving away from something.
What’s currently driving your business: are you striving to attain a particular goal or target? Or are you trying to avoid further pain caused by a bad business decision or experience?
Most of us who are running successful businesses have done both. If we’ve had a particularly bad experience, we hopefully learn from our mistakes and make an active decision to not repeat the pattern twice: once bitten, twice shy as the saying goes.
More often than not we are also striving towards achieving a certain business goal and are making proactive decisions to help us get there.
In my opinion, having goals and targets and regularly reviewing them is key to the successful running of a business. Not only is it a great way to motivate you and your team but it’s critical to be able to address any issues as quickly as possible to make sure you are not spending too much time in the zone of ‘avoiding pain’.
There are a number of great tools available to assist small business owners to run their businesses more efficiently. One of the key things I recommend to all of my clients is to migrate their accounting to the cloud.
Being able to see all of your Key Performance Indicators in REAL TIME and how you are performing against your monthly and yearly targets helps ensure that your business decisions are primarily motivated by pleasure.
If you’d like advice on either getting your accounts into the cloud give me a call on 07 3391 1188.