Does this look like your situation? You are very busy, working, working and working even more. You might even be making money, but not nearly the amount that you would like to see. Working less and making more money sounds so much better, right?
It is better! And it can be done! What areas of your business should you consistently work on to make your practice or business run more smoothly? Do you feel as if you have been lurching along with a large chunk (or chunks) out of your wheel? Is it more of a thump, thump, thump than a smooth roll?
It should not be that rough. To diagnose what the problem might be, take a look at this Wheel of Business. Look at the eight areas and assess where you are in relation to each area. These areas are:
- Time Maximization
- Health Management
- Rainmaking Activities
- Working with Ideal Clients Only
- Professional Development and Motivation
- Strategic Partner Development
- Plan Development and Execution
Are you a 10, a 0 or somewhere in between? Take the center of the wheel as 0 and the outer edge as 10 (10 is high), and rank your level of satisfaction (or frustration) in each area. Now, draw a curved line to create an outer edge (see example). The new perimeter of the circle represents your “Wheel of Business.”
Here is an example of what your Wheel of Business may look like:
Ouch! It does make for a very bumpy ride if each area is not closely aligned. Are you at a 9 on organization, but a 2 on rainmaking? What about time maximization and working with ideal clients only? It’s hard to maximize your time effectively and efficiently if you are working with non-ideal clients that are probably taking up a majority of your time for little return. You know who I am talking about.
As my father-in-law says, “Sometimes you are on the flat side of the wheel.” Although he was referring to the sales cycle, I think that relates perfectly to this illustration. You just don’t want any one area (or more) to be your “flat side.” Getting all eight areas in alignment is essential. This will help get you where you want to go faster and more efficiently. Work on catching the lowest numbered areas up to the higher numbered ones for a smoother ride on your way to success. Once you are able to get all the numbers closer together, your business will be flying!
If you want to be more analytical, use this wheel to change the areas as they relate to other or more specific areas of your practice or job. Even better, use it for your personal life.
Joan Richardson is an executive business coach certified in the Honorée Method of Coaching based in Dallas, Texas. Joan works with professional service providers and business owners giving seminars and conducting training programs on generating business and streamlining efficiencies and effectiveness as well as providing custom coaching sessions. (http://www.coachhonoree.com/Joan)