Time to back up 2018 and start 2019 fresh
It’s that time of year! If you’re like us at Grace Team, you’ll be taking time away from your business over the next three weeks (or four if you’re lucky!) to relax and enjoy this special time of year. With time away from the business comes time to reflect and often this is the perfect time to think big picture and formulate business plans for the new year. Use this time to assess what’s worked in your business this year and to make plans to reach your financial goals, and grow your influence in the market next year.
A few things to think about:
How well do you understand the figures? It’s always busy being an owner/ operator so it’s easy to lose focus of the numbers. Are margins too tight? Expenses too high? Do you have your finances under control or need to put more focus on your financial plan?
Products & Services
Do you need to cull a product or service that is eating margin or cutting into staff time? Do you need to look at adding services or complimentary products to add value to the client relationship or to transaction value? Have you looked at the true cost and impact a new product or service might have on the business?
Team culture & staff planning
Staff levels needing review? Has the business grown and staff levels need adjusting or have roles changed within the business so staff remuneration needs to reflect these changes?
Where does your business sit in the market? What stories are your customers telling about your business? What do you do differently to your competition? Are your prices competitive? What offers are you making? How does your brand look and feel? All these things combine to give you your brand positioning.
Set goals. Know what your specific goal is for any week, month, quarter, or for the year. Do you need to bring in revenue? Do you need to build your base? Do you need to optimise your
internal systems? And allow your specific goal to become leverage for getting those things done as well.
Have you booked a 2019 budget and cashflow session yet?
Cash is the lifeblood of any business. Budget and cashflow is an important area of the business to focus on for real improvement in the coming year. Whilst this can be a daunting task, we are here to help and put you in control to make the strategic business decisions that will count
in 2019. Call us to book your session today.