The new year has started and it’s time to start working ON your business!!
For me January always brings a fresh start and I think about new ideas to implement.
In my business I always set aside a day with my team (on a regular basis) to spend working ON the business.
Business owners spend so much time working IN it they don’t realise the importance of what a planning day can have to the entire year.
Here are 10 tips that you can follow:
- Always set an Agenda – as it is easy to forget important items that you want to address.
- Set goals!! – What do you want to achieve this year?
- List items that worked well last year- Ask why these ideas succeeded? What did you do right? Was it pricing? Was it because it was something no-one else did? Or was it because you had so much passion behind it that you found it easy to implement?
- List items that didn’t work so well- You need to look at why these ideas failed and whether or not they can be improved on and kept on the plan for this year.
- Start listing ideas that are in line with your goals and what you want to achieve next? These new ideas need to have a time frame applied next to them.- How long would it take to implement Idea A versus Idea B- Time frame can be 1 week, 6 months etc dependant on how much research or development time it took?
- When you think about the business does anything require attention? It is important to address issues that you may have not had the time to think about during the year. This could be you current premises that you rent. Are you at the end of the lease? Does this premise still tick the boxes or have you outgrown it? Do you need to downsize? Are you a retail business and location is everything
- Are you holding back? What and why are you holding back
- Are you running the business at full potential? It is so easy to get side tracked and avoid the questions.
- Cash flow- Are you getting paid on time? Do you have money to pay your bills?
- Any ideas or problems you have do you need further advice and training? Remember as your business grows it is very difficult to do everything well and that means you may require more staff or outsource?
These 10 items will help you set up a great planning day. Bring in your trusted team and enjoy yourselves brainstorming and make this year your best year yet!!
Need any help… AboveBAS is able to provide you with the support you need in your back office and to you as a business! Just contact us to organise your free check up!
AboveBAS also offers Business Guidance (a helping hand for your business journey). As well as Bookkeeping & BAS Agent services.
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