Spring is in the air and that means renewal and rebirth. It’s a great time to clear out the old and give you and your business a fresh “coat of paint.” Nothing says ready for business like a refreshed store front or a new hair style. Spring is the best time to refresh spaces and give your operations a pick me up. Here are 10 ideas from Forbes to help you kick start your Spring.
1. Test The Efficacy Of Automated Processes
Review all of your monthly expenditures and eliminate any that are no longer necessary or aren’t driving adequate value.
2. Set Up Your Accounting Categories
Businesses should take the time to set up their accounting categories to better determine which cost and profit centres line up and drive the most margin.
3. Conduct A Review Of Your SOPs And Training Materials
There’s been a massive evolution in the workplace. It only makes sense that you should regularly update company-wide training too.
4. Reevaluate Vendor Relationships
Companies often waste resources on renewals and fee increases with vendors who don’t always have their best interests in mind.
4. Reevaluate Vendor Relationships
Companies often waste resources on renewals and fee increases with vendors who don’t always have their best interests in mind. Each year, you should evaluate your vendor partnerships to determine which ones to keep, which ones to terminate and which ones to renegotiate.
5. Cancel Your Credit Card
You may be overpaying for services you don’t need anymore. Canceling your credit card will make you really think about which services you need to continue to pay for that you can transfer your new card details to.
6. Ask Yourself Five Key Questions
When you’re a business owner, a lot can go stale—your goals, standards, operations, employee motivation and agency, customer relationships, marketing and product ideas and more. So ask yourself: Did I meet the goals set for the previous year? Am I on track to meet my intermediate and long-term goals? How valuable are these goals I’ve set? How do I set them? How do I execute them? – Samuel Thimothy, OneIMS
7. Review And Communicate KPIs
Proper management of your team is an essential element to success. Many business owners fail to fire, hire and promote using KPIs, or even set and track them in the first place.
8. Organize Your Books To See Where You Can Save
Every business should do a deep scrub into their books. Take time to organise your books, review your accounts and digitise what you can.
9. Get Rid Of Unused Subscriptions
You can prepare your business for the year ahead by getting rid of subscriptions you’re not using and consolidating your SaaS products where it’s possible.
10. Review Your Client List
Every business, especially professional service companies, need to take time each year to review their clients. This review should look at the profitability of each client, but also look at clients and make sure they match your values and are part of your strategic goals.
Need help refreshing your operations or business plan? Contact us!