End of year is a busy time for any small business. Whether you’re winding down from manic Christmas trade, or frantically trying to wrap tasks up before the holidays begin, remember to also take this time to reflect, work on the business, not in, and use this time to get a head start on the new year ahead.
By taking your learnings from the year just past, and aligning them with your goals for the future, you can set a plan in place to make sure your small business can hit the ground running when the clock strikes midnight on 2018.
If you’re still reading this and nodding your head, but don’t know where to start. Grab and cuppa, take a seat, because we’re about to drop our top 5 tips to help you get on top of, implement, and uplevel your small business for the new year.
1. Articulate your business goals
There are endless studies that show the correlation between writing down clear, concise goals, and achieving them. Before you dive head first into making improvements in your business, stop and take a moment to decide what it is you truly want to achieve. Business goals should be reviewed at least every quarter, as depending on the Business’s evolving needs and growth, these may change.
If you’re not sure where to start, you can download our free business plan template here.
Once you have your goals clearly defined, you can use them as pillars for determining whether actions are helping you achieve your overarching strategy, or are simply a distraction from it.
2. Invest in social media
Some companies avoid it, some companies depend on it. Whichever side of the fence you’re on, there’s no denying that in the digital world that we live in today, social media can help your business craft an online identity, engage with your community, and build brand loyalty amongst your followers.
Platforms like Instagram, Facebook, LinkedIn and Twitter can be hugely effective in driving website traffic, offering value to your audience, and creating a rapport that says “we know our stuff, we’re happy to help, get in touch any time”.
To help, download our free digital marketing guide here to help you kick off 2019 with a bang!
3. Cleanse the excess
We avoid it all year, but by the time Santa is ho-ho-ho-ing you’re buried under a pile of paperwork, an out of control inbox, and a desktop that’s basically screaming “help me”.
That glorious week between Christmas and New Years – when the whole world seems to go silent and you finally have a moment to yourself – is the perfect time to get organised, rid yourself of excess, and give yourself a clean slate to start the new year the right way.
4. Get your (financial) ducks in a row
What better way to start a new year than to know you’re in a position to confidently achieve all your business goals financially.
By getting financially confident about your cash flow, capital and taxes as you step into the new year, not only will you feel informed when making any key business decisions, but you’ll also be able to secure additional capital through cash flow financing – additional funds from lenders that uses your cash flow as collateral.
Ensuring positive cashflow is the surest way to be prepared for whatever the future holds for your business – from upscaling your workforce to new equipment financing. If crunching the numbers seems like a daunting task, you can download our simple, uncomplicated and easy to use cash flow financing forecast template here.
5. Upgrading your tech and equipment
Outdated, underperforming, or misused technology can have a serious impact on the efficiency and productivity of your business. Take the time to review the pain points of the past year, and decide what new systems, or equipment you can invest in that will improve day to day usability, and edge you closer to those goals we defined back in step one.
Armed with new goals and your revitalised systems in place, Business Fuel can help you get the capital your business needs now, to achieve bigger and brighter things in the new year. Whether it be a small business loan or equipment financing, if you want more info about how we can help – drop us a message by clicking here.