Get holistic health for your business. This is the seventh article in the series A CEO’s Guide to a Healthy Business.
Fitness centers across the country see it every year: the January Gym Rush. New member sign ups skyrocket thanks to New Year’s resolutions to improve personal health. But physical health is just one aspect of personal well-being; scientists say there are seven more: nutrition, emotional, social, spiritual, intellectual, financial, and environmental. Being a healthy human is a complex endeavor!
Likewise, achieving holistic health for your business is not an easy task either. Your business’s financial health requires regular attention and adjustment. (January’s great intentions are no more certain for businesses than they are for individuals!)
Officeheads has helped countless CEOs and owners achieve holistic health for a thriving business. Our focus on processes and systems creates a framework for your goals, just like those eight pillars of personal well-being. Two frameworks in particular are game changers for business health and vitality.
GET IN GEAR
Every business needs a strategic approach to financial management. Without it, those business goals are no more than a dream. Getting your business in gear to achieve your goals is essential if you want to develop a holistic health for a thriving business.
That’s why we developed the 5-Gear Financial Management System. This process systematically sets up businesses to win and aligns CEOs / business owners with their financials to create clarity and growth.
Each of the five gears work together to ensure everything in your business is in sync, working together for financial health and vitality. The five gears are:
#1 The Right Tools
If you don’t have the right tools, you will constantly be fighting yourself instead of taking on the competition. Your business’s health depends on having access to the tools and knowing how to use them.
#2 The Right Processes
You need efficient processes to make everything work in sync, so nothing gets lost and surprises are accounted for. That’s what Officeheads does best! We have proven processes that keep your business healthy year after year.
#3 The Right Team
Surround yourself with the people who are equipped and ready to achieve the goals you’ve set. Oftentimes, you’ll need outside support, and that’s where our trusted, expert team can step in. Officeheads handles your bookkeeping, accounting, and taxes, which allows you to focus on what you do best.
#4 The Right Perspective
Review where you’ve been to learn from your mistakes—and your wins! Put your history to work for a tangible competitive advantage and get a sense of how your past impacts your next steps into future success.
#5 The Right Focus
Planning for your business’s future requires laser focus on setting goals and building the strategies to keep your business growing and in optimal health.
Once you have a financial management system that gets your business in its healthiest condition, you need to get that engine moving. Financial strategy is the engine driving your business success, but your business’s holistic health encompasses much more than that. You need to look at the big picture.
For both personal and business wellness, you must look at all the factors contributing to your overall well being. Focusing on just one aspect, while neglecting the others, will not lead to lasting, consistent improvements.
That’s why our approach to financial management takes AIM, covering the 12 Areas of Internal Management. I helped develop this approach years ago during my 15-year stint as business manager of a financial management consulting firm. Our task force developed the original model with 10 areas of internal management; I’ve since added two others, resulting in these 12 that I use with my clients today:
- Facility Management
- Financial Management
- People Management
- Risk Management
- Service/Product Delivery
- Relationship Management
- Social Impact
The health and vitality of any business requires the CEO / business owner to take aim at each of these categories. You need a strategic approach for managing these decision areas, which is why that one is listed first. Have a system—a strategy—in place for regularly focusing on each category is essential! You need a process and a routine to face reality and keep your business healthy across the board.
MAXIMUM BUSINESS HEALTH
The health of your business depends on your ability to see the big picture. Everything you do each day, month, and quarter impacts the result at year end. That’s why you need a holistic approach and proven strategy to achieve your goals.
If you aren’t sure how to get started, we can help! We come alongside CEOs and business owners to design and build top-notch financial engines that get you in gear and help you take AIM. Your financial engine sets the pace for the whole company and impacts all areas of internal management, from profitability and cash flow to expenses and credit. And all that affects your business’s healthy and vitality. Get in touch with us today to learn more about our strategic approach and to see how the team at Officeheads can lead your company into a healthy 2023 and beyond!