This week’s 2-Minute Monday Mindset is about evaluation to help you and the business.
Audit Before You Add It (or Them)
In business, we all want to do it right and hit the mark. But how does any serious business know whether belief is accurate?
It’s called auditing!
An audit is how the IRS checks if you paid your taxes properly. An audit is how large corporations ensure business divisions are being run properly. And an audit should be YOUR go-to for YOUR business.
And here’s the key: audit before you add it! (or them)
There are three types of audits any business needs to run:
First, audit your business.
Are you guessing and coasting, or are you knowing and addressing?
What’s working? What’s not? Where is the money, time or energy being wasted?
Second, audit yourself.
Are you coasting and managing chaos, or are you leading from the front?
Are you in the right seat, doing the right things, at the right time?
Are your core values aligned with the business strategy?
Last, audit others.
Your team. Your vendors. Your coaches. Your advisors.
Are they helping you move forward or just along for the ride?
Now here’s the key: Use Paretto’s Principle, otherwise known as the 80/20 Rule, as your audit filter.
Identify the 20% of inputs—people, processes, business segments and behaviors—creating 80% of the results you want.
Then, double down on that 20% with your time, money and resources.
Auditing isn’t about finding fault. It’s about creating accurate focus and impact additions.
Knowing, not guessing. Awareness, not ignorance. Acting, not coasting.
So before you add more to your business plate, audit what’s already on it.
And then determine by the audit what’s needed, and add it! (or them)
And I’ll se YOU at the next 2MMM!
