Business Perspective: 12 things to be done before another business year

There are many things that ought to be done before another business calendar year starts, so that one can get organized come beginning of the year.

Sunday, January 02, 2011

There are many things that ought to be done before another business calendar year starts, so that one can get organized come beginning of the year.

I too have started cleaning out and sorting what is needed and what is not. Below are 15 things to be done come January 2011 to be more organized in your work;

Review all your systems from top to bottom. Carefully examine what is working and what isn’t. Decide where the problems are and figure out what can be fixed. You might be able to fix them yourself, or you might need outside guidance.

Maybe you need a computer expert to help you use the technology more efficiently or maybe you need a financial expert to improve the way you do your books. Whatever you do, don’t assume anything.

Don’t assume that just because you have had a certain system in place from day one that it is adding value to your business or your customers.

A system review can be an eye-opening experience for business owners. They are usually surprised to find that their business has fallen into habits that are hindering them from being more successful.

Review all supplier contracts. Take a look at how much business you are doing with each supplier. Are you getting optimum pricing based on how much you are working together? Is the relationship mutually beneficial for you and for them?

If not, don’t be afraid to make a change. If you are happy with your suppliers, on the other hand, take the time to tell them. Let them know that you want to create a great relationship with them.

"They will appreciate that you are taking the time to make sure that they are happy in the relationship, too. Let them know that you want to be their favorite customer!

Determine who your best customers are and touch base. You may be surprised to find out that your best customers aren’t who you think they are. Examine all your customers through a profitability lens.

Just because you always seem to be doing something for certain customers doesn’t mean they’re the most profitable.

Be sure to tell them you appreciate their business and ask if there is anything you can improve on or do differently to help them grow their business.

Hold annual performance reviews. Discuss with your employees what they can do to help the company run more smoothly. Also, take the opportunity to find out what they feel most passionate about in their work, and ask if there is another part of the business in which they’d like to play a larger role.

Engage your employees as partners. The best people to help you solve problems, particularly those involving customers, are the ones who experience them on a daily basis. That’s right. Your employees are a (possibly untapped) wellspring of ideas on how you can make your customers happier.

Hold an end-of-the-year forum designed to get them to share those ideas. "Listening to and implementing your employees’ suggestions is a great way to make them feel like valued business partners, it will stoke their passion for what they do and encourage them to work harder in the coming year.

Do an early cleaning! This is what am currently doing in my office. It’s time to get rid of all of that stuff that you either don’t need or that doesn’t work anymore.

Your employees will like working in a cleaner environment. Chances are they--and you--will be happier and more productive. And don’t limit your efforts to the inside of your building. Take a look outside.

Are there things that you could do to make it look nicer? You might even freshen things up with a new coat of paint or some potted plants. Clean up and everyone may enjoy a boost in energy and creativity.

Review your marketing campaign. The end of the year is a great time to take a look at which marketing efforts are driving your business and which are not.

Do not hesitate to make changes if you think your current efforts aren’t paying off.

Overhaul your website. In the same way that retail stores move around their floor sets, you need to make changes to your website to keep people coming back.

Make sure all of your information is updated, and post any articles that have recently mentioned your work. "Set your company’s website as the homepage on your browser. That way every time you go online you will notice your website.

It serves as a great constant reminder that you need to keep making updates and improvements.

Check your business cards. Chances are you are handing out your business cards to all kinds of people: your customers, your suppliers, potential customers, everyone.

Make sure all of the information is updated. Are all numbers and email addresses current? Does the layout (colors and design) match that of your website and other stationery?

Consider technology upgrades. If you need new computers or a new phone system to help things run more smoothly, the end of the year is a great time to make those upgrades. A new computer, phone system, or other technology upgrade can make a huge difference in the daily lives of your employees.

Technology upgrades will enable them to spend less time attending to problems such as computer crashes or lost voicemails and focus more attention on those things that truly matter.

Just be sure that everyone gets the appropriate training on the new technology.

Review insurance policies. Often insurance policies are set up and then put to the side, forgotten, until something happens.

Then, too many business owners discover that they are not adequately covered. Insurance is not the most exciting subject in the world. But taking the time to make sure you have adequate coverage could save you a lot of money down the line.

This is especially important if changes have taken place in your company during the past year that affect your liability.

Meet with your accountant. The end of the year is the perfect time to meet with your accountant to plan your taxes.

Discuss with your accountant what you should do with excess cash and take a look at anything you can write off.

Above all these appreciate what you have done for the last year and also give credit to your employees where due as you all start a new year with fresh minds ready to take your business to greater heights.

HAPPY NEW YEAR!

Ends