EOFY should not be a time that generates stress and worries, but reflections and positivity for the new year to come! Where do you begin? Read on to see how you can make the year ahead the best one yet for your business.
Review the year that has been
Many people just roll onto the next year without even thinking about the year they leave behind. Make sure you spend some time to analyse your data and ask some important questions.
- Did you achieve the goals that you set for the business?
- How much did you spend around the office for things such as utilities, supplies, office rent etc. ?
- Where can you reduce expenses?
- Where can you increase your income?
Set clear goals and create a strategy
Some people lack the insight to plan properly when it comes to the year ahead so once you’ve done your review of the year that has been, set some goals. The value of spending a day planning with an external expert could mean so much added value for your business.
Focus on digital
As more and more businesses are using the online world, think about your business and what it looks like digitally.
Is your website up to scratch? Do you use social media? If you do, how often do you use it? Do you use online property management software, or are you chained to your desk because it is an old desktop installed program?
Define your point of difference
What makes you different? Why should people choose you over your competitors? Is your service above and beyond? Do you offer incentives?
Be clear with what you are offering, and make sure your message is heard! Take a look at your competitors and see what they are offering. Find the things they are not focused on and own them!
Explore a different staffing model
What is your current business structure? Is it flat or hierarchical? Are there many levels of management? You need to consider what’s best for your business size, what is reasonable in terms of working hours as well as what you can afford.
More and more businesses are considering outsourcing or hiring people on short-term contracts. This means your business can grow when it needs too, and scale back once certain projects are completed.