Is your business fit for summer?

We saw a glimmer of sunshine at the weekend, and you could be forgiven for thinking that summer is on it’s way. Well, Spring at least!

 

With many financial year ends now passed, business owners can finally focus on ‘getting down to business’ and clarify their objectives and goals for the year ahead.

Here are our top 10 tips for getting your business in shape for summer:

  1. Listen to your customers – it is vital you nurture your existing clients. Ensure the service they get is 100% and if you feel they are not happy, address the issue up front.
  2. Get new clients – have a think about your targets and your prospective customers and make a plan to get in front of them. Look at your website, your business development plans, your social media and marketing strategy – is your name out there?
  3. Keep the money coming in – managing cash flow is essential. Invoice as soon as you can, and ensure payments are made on time.
  4. Plan, plan and plan again – review your past business successes and failures and plan for the future.
  5. Establish new goals – setting yourself achievable financial goals is important for motivation and growing your business at a consistent pace.
  6. Budget – distribute your funds accordingly and reserve funds for this year’s projects as well as unforeseen events.
  7. Time is precious – outsourcing certain tasks, like bookkeeping or content creation, can be hugely beneficial, and allow you to focus your efforts on the running of your business.
  8. Embrace accounting and other software – in the digital age, technology is an essential part of both everyday life and the business world. It is wise to invest in systems that handle your work more effectively.
  9. What makes you the most money? Examine the different parts of your business and see which areas are generating the most money and what is perhaps draining your resources.
  10. Hire a professional accountant – not only will an accountant handle the stress of the day-to-day finance tasks, they can provide a lot more. Remember as a business owner it is hard to manage finances when so many emotions are invested in your business.

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