3 reasons why my most dreaded office chore is actually good for me
Can I let you in on a little secret? I hate writing reports. I know, I know, everything sucks some, of the time. And one thing that sucks for me about my job is writing reports.
I write reports to The Carrot Project, The City of Boston, and the Department of Agriculture; any organization that provides funding so that I can offer business support to entrepreneurs. They want to know the scope of work I propose, and why; the work completed; and the outcomes. It helps them measure impact. For me, it’s 1 – 3 hours that I’d rather spend actually working with my clients.
I’m sure this resonates with many of you as you think about your office work… you’d rather work in your business (farming, cooking, producing) not on your business (bookkeeping and report writing).
Unlike me, Tim Wilcox of Kitchen Garden Farm embraces report writing. This is especially surprising since most farmers I know loathe office work. Nonetheless, every December he sits down to write his “annual report.” This isn’t the annual report that Fortune 500 companies produce for their investors. It’s a record of how the year went – from production to weather to financials. He analyzes the profitability of his different customers, how much time he spends servicing each client and the value they provide to the business. He assesses the value of each crop – which did better than others; which are most popular with the customers and which ones can be grown profitably. He reviews his costs and compares them to his budget.
After all his thinking, reviewing and writing he has a good idea of how the past year went. It’s the first step to determining changes for the coming year. He knows which crops and which markets he should focus on. And then he writes out the plan for the upcoming year.
The benefits of all this writing are enormous!
Know Where to Focus:
With a thorough review of the previous year, Tim knows what worked and what did not. These insights provide a critical foundation for laying out changes for the coming year and creating a growth plan. If he sees costs rising, he can modify his pricing strategy. If he sees some types of customers are more profitable, he can focus energies there.
Have a Written Record:
For those of you who read The Farmer’s Office, you may remember the story about Dean from Templeton Florists. He was the third generation to run the family business, and after 7 years, he got himself into a hole of debt. As we looked over his historical financials, we looked for a time when the business was profitable. We then asked, what did he do then that worked and what can he do to recreate that success? If Dean had an annual report, he would have a narrative of his success strategies. Instead, he had to rely on memory; which in this case wasn’t strong.
The annual report also provides a focus for the coming year. When you get mired down in the day to day, you might forget why you do what you do. A quick peak at your annual report can provide the necessary reminders to keep you on track.
Provide Inspiration:
Some days (many days!), entrepreneurship can be a grind. An employee quits without giving notice; or a heavy wind damages your greenhouse. It can feel like you step back instead of forward. Looking through past annual reports can remind you how far you’ve grown your business. Maybe 4 years ago you didn’t even have employees. That you have employees today shows how much you grew your business. It can put an optimistic spin on the business frustration: remind you that taking a step backward after taking 2 steps forward is not a disaster, it’s a cha-cha.
I’ll tell you another little secret – it turns out the reports I write for my funders is actually helpful for me too. It’s the past record of what I was thinking that’s so helpful. And for me and the dreaded report writing, I get the same benefit. I document my process, my reasoning behind the proposed process, and the outcomes.
Whatever your work, keeping records on paper is key to tracking and measuring. Even the sharpest minds can’t keep track of all the little details over time. Whether it’s in an annual report, or just a bulleted list, keeping the notes will help you track your progress as your business grows.
How do you keep track of your progress?
