Is It Time To Refocus – Individuals & Businesses.
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Is It Time To Refocus – Individuals & Businesses.

In this article Anthony Pearson, MB+M Accountant Adviser addresses; ‘Is It Time To Refocus – Individuals & Businesses.’ He relates his personal experiences about moving to a working from a home environment, and then the move to the “new normal” environment. He goes on the discuss the need for both individuals and businesses to review past plans/strategies and refocus on what success looks like for the future.
Anthony provides some expert advice that businesses could think about to define their way ahead, using some key questions.

ARTICLE

What a challenge the past three months have been!  It seems like yesterday I was still in the MB+M office and we were planning potential work from a home situation.  Now we are in week ten of work from home.  I share my house with three children who are Home Schooling, and a toddler who is constantly wanting Mum and Dad.  I am very lucky to have a very supportive partner who is also dealing with all the above and putting up with me when I need to blow off steam.

Being a long-term planner by nature, I have always had a five year plan at most stages of my life.  These plans have included study, travel, starting a family, financial goals.  I usually feel like I have tracks laid out towards my long term goals and my train is always moving in the right direction.

My focus has become narrow as I deal with current challenges. And on reflection, I now seem to decide to just get through the short term. My focus is the next day, or even next hour.  Long term plans have been shelved, and even forgotten about. My train is no longer moving forward, in fact I’m not sure it is even pointing in the right direction.

Right!  Time to refocus. 

I know that if I keep my total focus on the short term, my long term plans will be harder to achieve.  It will be harder to get my train back on track, or at least the journey will be longer.   Should I eat that chocolate bar when my long term goal is to lose 5kgs?  A run might be a better idea.  Perhaps I should review my investments which I have been neglecting, as there may be some excellent opportunities at the moment? 

Most successful people have long term goals which they are working towards and dictate what their day-to-day actions should be.

Business Also Needs To Refocus

Business success also depends on having long term goals and plans, which need regular reviewing. It is very understandable that business owners may have recently been distracted and stressed, and like me, have focussed on the short term.

It is now more important than ever that businesses also plan for the medium and long term future and ensure that short term decisions and focus are in line with long term goals.

Businesses that will succeed post COVID 19 will be those that can brainstorm, adapt, and find fresh opportunities.  I challenge each of you to think about:

  • What your business looks like post COVID 19?
  • What are your long term business goals?
  • Which strategies are you implementing now to ensure you succeed?
  • How often are you reviewing the above?
  • Who are you bouncing ideas off for a different viewpoint and/or support?
MB+M Will Help You

It is a superb feeling to help business owners plan for success and then achieve their goals.  MB+M advisors are here to help you through the process, from initial brainstorming, documenting plans and strategy, or touching base regularly to help keep you accountable and focussed.

Call MB+M on 03 5821 9177 to speak to me, or another of our expert advisors

I look forward to the discussions which will take place with my clients over the coming months. In the meantime, please give me a wave or a toot if you see me out pounding the pavement.  It helps to have a support network around to encourage and keep my focus on where it needs to be.

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READ MORE: After the Crisis – 5 tips for doing business in the ‘new normal’
READ MORE: Josh Comrie: Four ways you can change your business plan post-Covid 19

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Anthony Pearson – CA Accountant
& Senior Advisor
Email: anthonyp@mbmgroup.com.au

Anthony is a Chartered Accountant and senior adviser at MB+M.  He is passionate about helping clients navigate their journey from starting their business, making them more successful to transitioning out.  He is also an enthusiastic advocate of ensuring his clients are well prepared and advised in relation to their financial wealth for today and into the future.

Anthony has been a part of the MB+M team for over 20 years.  He is a committed member of the local community and regularly seen providing help at different community organisations. 
He is also a great musician and entertain’s occasionally at different family occasions, and with an odd song or two at MB+M events as well!

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