Self-reflection can be a challenging process that is often overlooked by entrepreneurs and small business owners. However, it can be a key to understanding where you stand in your business and building a bridge between now and where you want to go. As we’re at the beginning of the year, it is essential to take the time to assess the results and facts about our businesses from the last year while understanding the decisions that we’ve done in the past and the ones we’re going to make in the future.
A self-reflective prompt is a question or statement that invites you to pause and reflect on the past, present, and future. It encourages you to think deeply about your life and business in order to assess where it stands today.
Self-reflective prompts can help you assess the state of your business. They allow us to understand our strengths and weaknesses, keeping an eye on how we’re developing as future entrepreneurs. When we ask ourselves critical questions, we’ll be able to make more informed decisions that not only provide us with financial success but also personal fulfilment.
This can be done monthly, every 3 months, every 6 months or annually depending on the structure of the business. For some businesses that require more decision-making processes, it’s best to use the self-reflection process more often.
When integrating this self-reflection process, it’s necessary to commit specific time (e.g if monthly, when every month? How many hours will you spend?) to make it easier to build a habit & routine. Integrate it into your schedule to find what kind of routine is best for you.
Don’t forget to always keep your self-reflection in a materialized form (e.g a document or voice notes) so it’s easier to follow up & build action items. This will act as an archive that you can then refer back to. A lot of times, this self-reflection routine uncovers new ideas. So it’s always best to keep it somewhere traceable.
Reflecting on your business can help you see the opportunities and threats that are taking place at this moment. It’s a good time to assess whether what you’re currently doing is still aligned with where the market is going, if your structure needs tweaking or changing completely. In addition, when we allow ourselves to go through an introspective process every so often, we will become more aware and intentional with our business strategy.
Depending on the results you see from your self-reflection process, the below actions may be taken:
Self-reflection can be key to the growth of a small business. It’s important to take time each regularly and reflect on what you’ve done, where your strengths are, as well as things you want to change or improve upon for next year (or week, or month). By doing so, you can make sure that your business goes on the right path to growth.
Tip: Make use of your answers and adapt them to your business & brand strategy to align your vision for this year!