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How to Audit Your Business for the New Year

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how to audit your business for the new year

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How to Audit Your Business for the New Year

When I hear the word audit, I naturally think of the IRS or something scary that usually has a negative connotation. But over the years I’ve come to love the word audit. Because for me it means a chance to dig through what’s working both in my business and my life and how I can improve things. I am definitely someone that feels empowered to make decisions based on numbers, data and analytics. I love knowing exactly where I am so that I can create a clear plan as to where I’m going. So today, I’m sharing how to audit your business for the New Year, so that you can make the best decisions this year and design the life you want.

Audit How You Spend Your Time

An overview of how to audit your time can look something like this:

  • find pockets of time you’re wasting
  • decide how you want to spend your time instead
  • make it a priority
  • schedule out your days
  • it’s okay to make time for fun too 🙂
The first thing I want you to think about is something that we all wish we had more of, TIME!

Do you ever find yourself saying, ugh, I wish I had more time to workout, meal prep or any other thing you want to do?  I know I’ve been guilty of that before. But the hard truth is not that we don’t have enough time, it’s that we are wasting the precious time that we do have. Dave Ramsey always says, “if we don’t tell our money where to go, we’ll wonder where it went.” I believe this concept is true of time too! If we don’t tell our time where to go, we will wonder where it went.

But we oftentimes find ourselves wasting precious time on things like scrolling social media instead of focusing on our to-do list. I’m not saying we shouldn’t give ourselves down time. But when we do give ourselves downtime, we want to make sure it’s intentional. So I want to challenge you to look at your day, look at your week and look at your month. I guarantee you can find a few hours a week where you are wasting time. I guarantee that if you go back to those goals you made for 2022 and how you’re planning to get there, you’ll find that you have small pockets of time that you’re likely wasting.

Let’s say your goal is to live a healthier life this year. While you’re waiting to heat something up in the microwave, maybe you can use that minute to do a few squats. By finding these small pockets of time in your day to focus on the things that matter to you, you’ll not only feel more productive, but you’ll actually BE more productive!

Audit Your Calendar

The next piece of your life that I recommend auditing is your calendar! This is true of your personal life and your professional life. I want you to look back at the past year and see all the things that you said yes to. Were they in line with your goals? Did they bring you joy? Would you say yes to them again? Depending on the answers to these questions, I want you to think about what you say yes to and what you commit to this year.

In high school, I would constantly say yes to anything and everything. It wasn’t until I got to college that I learned the magic of the word no. You have to know your limits and protect your time. Your time is one of the only things that you can’t get back in this world.

I’m sure there are things in your life, whether personal or professional, that you have a hard time saying no to. Especially if you’re in the online business world. It can feel like we have to do all the things, all the time. Like you have to constantly say yes to every client and every inquiry. That you have to respond to that email immediately. Trust me, I feel this way too. But truly looking at your boundaries and holding strong to those in regards to your calendar this year is going to make all the difference, trust me!

Audit Your Business

If you’re in the online business world, this next section is for you! I like to keep it simple when it comes to auditing a business. I recommend sticking to the three Ps: people, processes and profits.

  • People: meaning my clients and my team
  • Processes: meaning the systems and strategies that we have in place
  • Profits: meaning the data behind what we’re doing, our revenue goals and the financials of the business

This can seem overwhelming, but it’s usually only takes an hour or two to dig into all of these things and identify patterns. Then, create a game plan moving forward.

I encourage you to really look at your business with a birds-eye view and be brutally honest about the past year. Usually you know where you can improve and the areas that might need a little refresh. Don’t underestimate the power of revisiting things like your automations, your website, your contracts etc. Refreshing those things and making sure your team, actions and goals are all inline with each other.

Audit Your Happiness

The last thing I like to ask myself is am I happy? And here’s the thing, happiness isn’t a destination, it’s a journey. I don’t subscribe to the notion that when I get blank, I’ll be happy. Or when I make this much money, I’ll be happy. Happiness is a choice, we have to choose it every single day.

That’s not to say I don’t have days filled with self doubt or frustration. But even in those moments, I can still step back and feel joy for where I am in life.

But I like to ask myself, what have I done that’s purely for fun? Not because it’s moving the business forward, fun for the kids or that my husband enjoys doing it. But what have I done that’s fun for me?

 I encourage you to really think about those things that put a little extra pep in your step, and make the time and the space for them in your monthly routine. Giving yourself permission to do something that’s fun and just for you will not only fill up your own cup, but it will allow you the space to dream, be creative and enjoy life outside of the hustle. Afterall, that’s the point of being in control of our own lives, to live a life of abundance and joy!

If you loved this episode and plan on auditing your own life and business, do me a favor and head on over to our most recent Instagram post @boldbusinesspodcast and leave a comment with your biggest takeaway! I love hearing from you all and how you’re implementing these strategies into your everyday life. And if you haven’t already, would you be so kind as to leave me a review? It would mean the world to me!

Amanda

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I'm Amanda,
your new get-a-grip friend.

I'm a Southern girl with big-city sensibilities. You likely won't hear me saying "ya'll" but I do believe in Southern Hospitality. Most days I've got a baby on my hip and a quickly melting iced coffee in hand. I believe in building the life you want, one actionable step at a time. 

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