Spring Clean Your Business

With the new financial year it is useful to reassess your business, your reasons for getting starting it in the first place and how things are developing. Perhaps you feel you are thriving and don’t need to change anything. I suspect, however, that spending just a little time in working on your business rather than in your business, you may see great dividends. Here are few ideas to get you started:

  • Review your marketing plan. More than any other area of your business, your marketing plan is the one area you are likely to have neglected and the one area that you should probably spend more time. Is your plan working? Are you still following it? Are you measuring it’s performance and return? How can it be improved and targeted more towards your niche?

  • Review your business plan. Your business plan is not just a document that you used to convince your bank manager to give you the money to start your business. It is a road map that you can use to assess where you want to go..True the initial conditions you faced have changed but reading you plan will let you see how far you have got and if you approach is still valid! It is also useful to get you to refocus on all of the things you don’t normally think about in your business when are taking care of business. Competitor analysis, strategy, cashflow prediction and succession planning.

  • How is you Web site? This is like the shop window of the internet age. A visitor is unlikely to spend very long on your web site if it doesn’t captivate them immediately. Is your landing page grabbing your potential customer’s attention? Do it explain in just a few seconds exactly how you can provide benefit to a prospect?

  • How frequently do you add to your blog? If the web page is your shop window, your blog is your opportunity to be a ‘barrow boy’ to drum up interest. It is interest that will get potential customers to you website and your website that will hopefully move them along the sales curve to becoming your customer.

  • Review your customer list. If 80 % of your income comes from 20 % of your customers, do you know who those customers are and are you treating them well enough to keep them loyal? Why are they buying from you and could they be marketing for you as well by giving your name to friends and colleagues or providing testimonials?

  • Reassess you rates. Are you charging enough? You’ve had another year in the business and another year of experience. You have also had some increases in taxes, cost of living and inflation, so do your rates need to go up? Are you valuing yourself as much as you should be?

  • Are you contributing to your industry and community? Give something back, it will raise your profile, give you something else to talk about other than your business and will probably make you feel better.

  • How are you relationships? Your family and friends are often the first to suffer when you are running a business and so it is important to nurture those relationships. Why not chose this time at the beginning of the financial year to renew your deposits in the ‘bank of goodwill’ for every relationship you have.

These are just a few ideas that can help you reassess your business and help you set up a solid foundation for another successful year.

Dare to Aspire

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