How often do you reward yourself as a business owner? I don’t mean paying yourself a salary or taking a dividend but a reward for something you’ve achieved?
It’s so easy when you’re running a small business to see what hasn’t been achieved – you haven’t made the million, you haven’t got x number of customers, etc, and you feel every ache and pain of your business because it’s personal to you.
But how often do you sit back and take stock of everything you have achieved – all the good things that have happened – no matter how small? The answer, we know, is not very often! Many business owners quite happily spend money on their business, but feel guilty spending money on themselves.
Rewards are important to keep you motivated and moving forward. Take me, for instance – I find it really hard to reward myself, but last year I saw a beautiful pair of boots. I decided to buy them at the end of January after ‘tax return’ season, but January came and went and I still couldn’t bring myself to buy them!
But then I took a step back and asked myself what the point is of setting a target and a reward, but not following through? If I was an employee, I’d be completely demotivated if my manager did that to me – and that’s the point. If you don’t reward yourself, who else will?
So set yourself a goal, and give yourself a reward – it doesn’t have to be big, physical or expensive – just something personal to you that you wouldn’t normally do or buy – perhaps a spa treatment, a box of luxury chocolates, a new haircut, day out in the hills, trip to the theatre, or – of course – a new pair of boots!
Why are rewards the secret ingredient? Because you’re far more likely to meet whatever target you set yourself if there’s a reward that’s personal to you at the end of it.
Fresh Clarity are a chartered accountants based near Whitchurch, specialising in business transformation. We want to empower small business owners to take control of their business and free up time for the things they love. Whether it’s boosting your profitability, improving your cashflow or building sustainable growth, talk to Fresh Clarity today to unlock your potential.