Year End Review for Entrepreneurs! Where are spending your time, money, and energy?
As entrepreneurs, it's important to take some time at the end of the year to review where we are spending our time, money, and energy. A year end review is a great way to gain insight into how well we've been managing these three areas of our life. With Time Mastery, we can look at what activities have been taking up our time and whether or not they are aligned with our goals. With Money Mastery, we can review where our money has been going and what areas we need to focus on for the coming year. And with Energy Mastery, we can assess how we have been taking care of ourselves - both physically and mentally - and adjust our lifestyle accordingly. When we review our progress and make changes as necessary, we can move forward with more clarity and intention. So, what are you waiting for? It's time to start planning your year end review and make sure you're on the right track to success!
Here are a few ideas on how to get started and a little bit about what I uncovered during this process. As a business strategist I believe it is just as important to be intentional with reviewing your last year as it is to plan ahead strategically for the coming one.
Our history and data can teach us so much, but often we just race ahead to the next shiny thing rather than really asses the data that is sitting her waiting for us to take a peek.
Year End Review of Your Time Mastery
As an entrepreneur it is essential to have a clear understanding of where you are spending your time and where it might be escaping you. Time is your most valuable asset and will ultimately make or break you. I don't say that lightly as I know how myself and my clients master their time can either lead to expansion or to burnout. When approaching time mastery you must not look just at your business but your personal time as well. Life and business as an entrepreneur go hand in hand. Here are a few tips to review your 2022 so you can identify what was a hell yes I loved this moment vs. this drained me, and I should not do this again.
Start by doing a calendar audit. Yes, you will start by looking at January and taking notes. I like to track clients served, continual education events attended, and etcetera.
As you scroll through your calendar I want you to see each time commitment individually. I want you to ask yourself did this commitment feel good, give me energy, lead to my growth, and leave me feeling fulfilled? If not, then take a note of that as something you may desire to set a boundary around. On the flipside, if something makes you smile when you see it, and you recall it connecting you to someone amazing or leading to expansion then make a heck yes note of that.
This exercise is not only to focus on what did not work through the year but how you spent your time as a whole. The calendar audit will give you clarity on what you want to call in as the new year approaches vs. what you want to be more firm on and no longer allow to take up your valuable time.
Also, I want to make sure I hit on looking at the week/day as a whole. Did you over commit, feel pulled from side to side, or rushed. I often identify areas where I tend to be a bit more rushed or overwhelmed and see how I can apply a boundary, delegate, or strategically adjust so that it doesn't happen again.
Year End Review of Your Money Mastery
I know this seems like a no-brainer as a business owning entrepreneur. The real question is, are you actually assessing your money and how you mastered it in the past year or are you just setting your next revenue goal for the year ahead and running with it? I am not saying we should stay stuck in the past, but history is a tool to educate us as we move forward.
Money separates those who have a business vs. those who have a hobby. On the regular, I ask myself who am I letting influence my money and how I spend it.
As you go through your year end review, I encourage you to assess what continual educational events, networking events, and other items you invested in and ask yourself if it was a good ROI or was it a hefty expense that didn't really fulfill you and where you are headed.
Again, do not just look at this only from a business perspective. Investing in yoga classes and gym memberships are typically a good use of your money as an entrepreneur because it will aid in your success, and I will hit on that more later.
Another way to review your money mastery from the year past is to look at your budget. What expenses were maybe not necessary, what subscriptions did you let linger too long, and make note of this. Knowing how much you spent will bring clarity, and you may be more hesitant to say yes to what seems like a small monthly commitment but over time is a big expense for little reward moving forward.
This next one is my personal favorite as a strategist. Let's look at your financials, your pricing structure, launch periods, and see what worked, where did you struggle, what felt out of alignment, and what was a sweet spot that led to a beautiful influx of sales or new clients.
Yes, history around launching, how you were marketing, money spent marketing, and delegating is game-changing.
If something isn't broken don't fix it, but on the other hand if it isn't working let's collect the data to use when creating your strategic plan for the new year. Planning in this way will allow you to master your money in a way you never have before.
Year End Review of Your Energy Mastery
This is tier three of your year end review. Energy is foundational, and many times is what my clients are most lacking when they come to me.
Entrepreneurs are game for spending money on my one to one coaching, workshops, and other offers that promise more time and money. This is what they crave and feel justified investing money on. If this is you then please know you are not alone. I was in the same position for the first two years as an entrepreneur, and I hit massive burnout and almost gave up on this entrepreneur life all together.
My personal health was in a horrible state, and as a result so was my mental and spiritual health. I seemed to make all the time in the world for "money making" things, but when it came to mastering my energy it was a fleeting thought.
I would go to bed physically sick and mentally drained and just accepted that was just part of business ownership.
Everyone has to work this hard.
My hope as you do your year end review is to see when you intentionally created space on your calendar for joy, movement, laughter, and mindfulness.
Mastering your energy is the foundation on which all else is built. You have to be healthy and strong in all ways in order to build a healthy and strong business.
As you do your review stay open and aware of when you felt most creative, inspired, and fulfilled. Was it around the time you were exercising more regularly, meeting friends for lunch, doing your morning routine, or as I call it (your intentional time),and promising yourself to cultivate even more energy mastery into your life and business in the coming year.
I always tell my clients that JOY is the ultimate creator and oftentimes I replace it with NATURE is the ultimate creator , or COFFEE is the ultimate creator. I do this by replacing JOY with whatever it is that allows me to feel more in control of my energy and in a state of creation. Mastering your energy will allow you to accelerate and grow more than anything else.
Let's wrap it up
If you have read this far then know I am crazy freaking proud of you. Choosing to give your time to learn better ways to master your time, money, and energy already reveals so much. You desire to be a healthy and successful entrepreneur. You are closer than you think. In 2023 I am continuing to personally prioritize this and to continue to educate and support other entrepreneurs in doing the same.
If you are looking for more support, tools, and strategy then make sure to connect with me on Instagram and Facebook and I highly encourage you to join my free Ladies Conquering Goals community. where you can access many of my past trainings and connect with powerful women.
Even better if you desire a more strategic approach to life and business in the new year then apply to connect with me for your free 20-minute strategy call, and together we can explore what working together in the new year might look like.
Cheers to a little year end review before flying into creating the next chapter before properly closing the other.
I love you friend, and I appreciate your consistent support of my business and family. Each time I hear that I touched someone's life or made a difference then it only assures me that I am living out my life's purpose.
Remember that you are the master of your time, money, and energy. You hold the keys to how/who you spend your time with, who you let influence how you invest/spend your money, and who/what you let affect your energy.
Cheers to the coming year, and I hope it holds so much greatness.
Please feel free to share this with your audience and friends if you feel the tug to do so.
Danielle Throckmorton is a business strategist, coach, speaker and luxury retreat host. A two-time NextGen Under 30 award winner, Danielle now offers business strategy and coaching services to female entrepreneurs through 1:1 mentoring, workshops and retreats.