NEW YEAR’S CHECKLIST
Where did that last year go, hmm? Seems there’s barely enough time to pull open a Christmas cracker, nibble on some prawns and have a glass of white before it’s time to launch into a whole new year of business.
Well, I wouldn’t want you to get bored. So here’s a handy list of quick, cheap things you can do to get 2016 off to a good start.
- Have a plan. Always top of my list. What are the key things you want to achieve in the next 12 months?
- Compare your financial performance to this time last year. The half way point in the financial year is a good time to see if you’re up or down on last year’s figures, and brainstorm some ways of boosting revenue. So drag out those p&ls.
- Take a fresh look at your accounts receivables procedures. How quickly are you collecting outstanding debts from your clients? Speeding this up can have a tangible effect on cash flow. Consider using an automated collection system like https://debtordaddy.com/
- Nudge your prices up. Not much, but enough to cover increases in inflation.
- Schedule some one-on-one time with each of your staff. Christmas is often the time when thoughts turn to the future. What’s on their minds? Are they with you for the long haul or are they thinking of moving on? What sort of training and development opportunities do they need?
- Take a look at all the boring overheads: insurance, phones, internet costs, travel. Can you be getting a better deal? Is it time to shop around?
- Review your sales and business development activities from the previous year. What where the things that worked well and brought in more dollars? Draw up a quick schedule of activities to build on that success in the coming year.
And for more tips on tuning up your business, download our free e-book (yes, free!). Here’s the link: http://www.generate.com.au/resources/
And happy new year! We look forward to helping grow your business in 2016.
If you’ve got issues in your business you don’t seem to be able to get on top of, why not get in touch? Not only do we provide a full suite of bookkeeping and tax services here at Generate, but we’re also able to help with business coaching, strategy workshops, business plans and much more. You name the problem and I’m sure we can help.