Help & advice for growing your Small Business

  • by Carole Jordan
  • 18 Jul, 2017
help and advice for growing your small business brighton accountants and consultants

I love the summer for sitting back and reflecting on the year. Thinking back to the dark days of winter and forward to the joy of Christmas time. Now is the ideal time to review how your business is going and as you revive yourself through holidays and sunshine you’ll be well placed to make any changes come the autumn.

Your Summer Small Business Review

A review in July and August with your management team or on your own will help you assess whether you’re getting the best value for your hard work and check whether the business is going in the right direction for the future you have planned. 

To ensure you don’t focus on the areas that you are already concerned about think across the board to see where you might make changes and improvements. Often, you will find that small tweaks can make a big difference, sometimes more significant changes will be revealed and can be planned in to avoid disruption.

Here are my suggested areas for reflection and assessment:

  1. Your product or service
    Are you still impressing your customers with your offering? Or do you need to refresh your range by removing or enhancing your less popular lines?
  2. Your response times
    Are they appropriate to your product or service and do they fit with your customers’ needs?
  3. Your marketing
    Is it fresh and relevant to your target customer? What new opportunities are available in your market place and how could you take advantage of them?
  4. Your team 
    Are they motivated and clear on their purpose? What training and development do they need for the next year?
  5. Your premises
    Do they look tidy and well kept? Are they comfortable and welcoming for customers and a pleasant place to work for your team?
  6. Equipment and systems 
    Are these up to scratch? With constant innovation in all industries, keeping up to date or going beyond the norm will benefit your business, if you can achieve increased productivity or effectiveness. Keep your mind open to the advantages of the new.
  7. Check your profitability
    Are you making the margins you planned? If not, can changes be made to achieve better margins? What are the catalysts of your profitability and which need attention to ensure the sustainability of your business?

Keep a note of your findings and pinpoint some small quick wins, timetable other ideas along with the business plan you have already. Be sure you are not taking your business plan off course with these ideas but if you find you need to amend your plan don’t be afraid to do so. Be consistent and true to your goals and objectives but agile with your strategies. Do not create chaos by chopping and changing constantly, but allow your strategy to evolve. 

With reflection and reassessment you will grow a business which remains relevant to your customers, your team and yourself.

Get in touch with us today for more small business advice, and see how we can help your business grow. Call us on: 01273 882200.

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