14 Dec 4 ways to plan for a fantastic 2018
As 2017 comes to an end, it’s time to think about how to use 2018 to take your business to the next level. That’s easier said than done, and you might later find yourself with grand intentions but no results. So, how can you use the holiday season to ready your company for its greatest year ever?
- Get a crystal-clear picture of your finances.
This is even more important with VAT being implemented because you’ll have to juggle managing the changes to your own business but also your vendors. How will VAT affect your supply chain? Can you claim anything back? What will you do about your own pricing? Beyond VAT, you also need to consider that your business can grow only when you understand what is coming in and what is going out. If your finances are foggy, you might find out that there’s a problem but now it’s unsalvageable. Start your business year off right by having your finances in order.
- Make communication a priority
Sometimes we are caught up in the day-to-day stressors of running a business, and we neglect our channels of communication. Whether it’s our employees, contractors, vendors, family or friends, clear communication helps everyone reach their goals much more quickly and with less hassle. If you need a little help organising your thoughts, try an online system that syncs with your phone. You can make notes for you and your team, and make sure you cover all the important points and answer critical questions. Just think how much time and frustration you’ll save!
- Reach out to your customers.
Understanding your customer base is key to running a successful business, but your base’s wants and needs will change over time. If you’re out-of-touch with what your target market expects from your business, they’ll quickly see what your competition is offering. Right from the start of the new year, check in with your customer base to make sure you’re giving them what they want. You can send out a survey for some valuable feedback or contact some regular customers for in depth reviews on your products and services. With your social media, invite your followers to join in with a special hashtag or competition.
- Consider using a business Accelerator
We might be a little biased (especially after we just launched Vitality) but experienced professionals really are invaluable for your business. They review operations, marketing, finances and a host of other crucial activities to see what’s working well and what needs some work. With mentoring focused on achieving actionable results, business accelerators, such as Vitality, help you reach your fullest potential and maximise your success.