The great thing about January 1 is that most companies reset their business clocks and erase the sins of the past. In theory, the New Year is when initiatives begin, goals are reset, and resolutions come into play. But why? Why wait for the fresh calendar? Why is a clean start on an arbitrary date so important in order to make a necessary change? That's right. it's all psychological. Does that mean, if you neglect to make a change in the New Year, can you put it off for one more? I doubt your shareholders, customers, and employees would agree.
If a New Year's resolution gets you into better shape, more focused, or trying new things - that's great. In business, every day starts a new year if you really think about it. If you resolve this year to be more intentional about your business results, I have one recommendation: Trailing Twelve Months (ttm). When you look at your financials, skip those YTD reports. Celebrate (or lament) every month as the end of a full year. Compare your current ttm metrics to any 12 months in the past. Embrace all your business cycles and their results.
If a New Year's resolution gets you into better shape, more focused, or trying new things - that's great. In business, every day starts a new year if you really think about it. If you resolve this year to be more intentional about your business results, I have one recommendation: Trailing Twelve Months (ttm). When you look at your financials, skip those YTD reports. Celebrate (or lament) every month as the end of a full year. Compare your current ttm metrics to any 12 months in the past. Embrace all your business cycles and their results.