Personal wish list helps out business

EXECUTIVE business coach Macushla Montell believes every business owner should be clear about three key areas: time, team and money.

But she said any business strategy was worthless unless that same business owner was not aware of their own personal goals.

"If you're not happy in your own life you, won't do well in business," Ms Montell, who is also a psychotherapist and Innovation Centre mentor panel member, said.

"There is an old Chinese proverb 'a fish rots from the head down'. A business reflects the leadership within the organisation. If the leaders are happy, healthy and well-rested they will be able to manage the business well.

"If they have good mental health, a good support system around them and are feeling successful, it will usually reflect in their business."

Ms Montell said the start of a new year was the perfect time to think about your lifestyle, assess what's important and formulate a list of personal goals before getting stuck into a strategy for the business.

"I would advocate that people assess their personal goals and their business strategy at the very least quarterly.

"As we know, external conditions change and we have to be flexible and be able to change with them while keeping the end vision in mind."

She urged business owners to see each quarter, or even each moment, as a new beginning.

"We can get caught up in carrying baggage and stories from our past that we take into our future, but our history does not have to reflect our future," she said.

"I recommend all business owners have a bucket list of personal goals they'd like to achieve in their lifetime that will give them a big enough "why" to succeed in business.

"They should also use a support team of coaches, financial advisors and health practitioners to keep them accountable and make sure they stay on task throughout the year."

She said one of the biggest problems she sees in the clients she works with is adrenal burnout.

"They're often stressed with a lack of resources," she said.

"I help them to become aware of the resources they do have available and manage their mindset to overcome obstacles and take them as a learning experience rather than perceiving it as a failure.

"A business will often reflect an owner's emotions."

Ms Montell, who has a Masters degree in Gestalt psychotherapy, was born into a family with a diversity of businesses ranging from agriculture to fashion and health and fitness.

She has been a business owner in fields as varied as dance, fashion and property.

Ms Montell will be conducting the Innovation Centre's first Boardroom Briefing on February 4, from 12noon. Go to www.innovationcentre.com.au