In the old adage, “You can’t see the forest for the trees,” we’re reminded that we have to frequently step back from our day-to-day existence and take a broader view of things.

If we can ‘rise above’ it all, we are able to set aside our emotions and our personal preferences and take a more objective view of our business – and our lives, for that matter. It is from this vantage point that we should evaluate our strategic direction.

Depending on your business market and the industry you are in, you may want to do this on a quarterly basis. At a minimum, you should plan 2-3 days annually to evaluate your business. Establish a scorecard of the important aspects of your business that are measurable, and grade yourself. For starters, this should include: your staff, your products, your sales, your marketing, and your financial stability.

If you’ve been in business for some time, you’ve probably performed a similar activity comparing your financial statements from year to year. Why not carry the exercise further to track and compare other aspects of your business as well?

What’s working? What’s not working? Can you honestly identify why it is not working? If so, are there steps you can take to get it back on track? Is it something that should be eliminated? What will that impact be to the rest of your business plan? How will it impact your customer base?