Growth

Money, time, wellbeing – what will you prioritise in 2023?

- December 19, 2022 3 MIN READ

 

I’m a big believer in clarity and planning. As we round out 2022 and enter 2023, this is a great time to reflect on the year passed and plan for the year ahead, writes Brad Turville, director of BJT Financial.

Because at this time of year, we have work and school holidays and Christmas and New Year’s catch ups and many people will ask you, “How is business?” and the default response is always, “Yeah, it’s good.”

But is it really good? Are you really happy, or is that just the knee-jerk response?

January is a fantastic time to check in on what success looks like for you personally and in the business. Remember that the business is a vehicle to drive your personal goals and that it is there to serve you – not the other way around.


I am currently working with an accounting firm who are doing crazy hours on weeknights and weekends; they’ve lost four team members this year, clients are complaining, and the team is barely happy.

For them, they have realised that they need to start doing things differently.

Money, time and wellbeing freedom

I love this concept of Financial Freedom, Time Freedom and Mind Freedom.

Financial freedom is when you hit the business and personal financial goals you’ve set – this could be revenue, profit, cash, or no debt.


Time freedom is the control around your calendar – time in your business, time off, and holidays.

Mind freedom is peace of mind and relaxation – less stress, switching off from business, not checking emails every five seconds.

I want you to reflect on these freedoms and question whether you are achieving financial, time and mind freedom? If not, what are you going to do differently in 2023?

What will you do differently in 2023?

I remember attending a group business planning two-day event in 2012. There would have been 20 businesses in the room. The facilitator asked everyone to come up the front, introduce themselves and write on the flip chart their three biggest issues right now. Almost everyone wrote: cash flow, growth and people.

After working with countless businesses since that date, I can confirm that back then, and still today, the biggest issues are cash flow, growth and people.

I’ve written a whole bunch of great business improvement articles this year, and I’m sure there is one, in particular, that could be relevant and helpful to what you need to focus on next year:

2023 action plan

What I want you to do is set a basic action plan for the January 2023 – March 2023 quarter:

  • Set three high-level goals.
  • Chunk those goals down to three to five action items you need to take to achieve the goal.
  • Delegate, where possible, those actions to relevant team members (if it’s just you in the business, then you’re doing all of them).
  • Set a due date (some might be the end of quarter, others might get actioned earlier).

That is a basic action to kick-start your year. Better yet, have someone hold you accountable to it.

That’s a wrap for 2022. If you recognise a problem or an opportunity, grab it by the horns and take action. I wish you all the best success.


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