Its the start of the new year, phones are quieter out and there’s little activity in the office, what should you be doing with your business to make the most of this quiet period ?
Here are some suggestions…
Do a review of your business performance so far this year
Go deep into your figures to really understand what’s happening in your business. How is it performing against last year? Are you spending more in some areas than you should be? Are the buying trends of your customer base changing? Are you in front or behind where you were at this time last year in terms of sales? Why is that?
Review / revise (or even create) your business strategy for the rest of the financial year
No matter how small your business is, you should already have a well-developed business strategy in place. Ask yourself, what do you need to do, to make this year the best year ever? What is stopping your business getting more sales through the door? Are there events you could be attending, what about networking, what about your marketing / advertising?
Define / refine / streamline your customer journey
How do you currently get a new customer through the “door”? What does it take to move a prospect from an exchange of business cards through to an exchange of contracts… or from a new follower on Twitter to a new and valuable customer? Do you have a defined sales process in place? What is it? Is it effective and could it be better?
Take some time to bond with and train your team
Of course, you could continue to push you team to make hundreds of sales calls a day but the reality is, the summer months are the least effective time for many organisations to acquire new business. That means it’s the best time to take days out for training, team building and refocusing of minds for the months ahead.
Review your suppliers
Are you really getting the best deal on your purchases? It’s time to take stock of your suppliers and make sure they are still the best ones to take your business forward. If you can find cheaper or better elsewhere it’s time to renegotiate your contracts or switch to something else. Don’t just do this for physical stock either… think software services, IT support contracts, office cleaning and anything else that’s provided to you as a service.
Get your marketing in order
It’s time to do a deep dive review of your marketing. Do you have core messages that you’re delivering to your customers? Are they still relevant? Are you still pushing your messages out to the right places? Analyse your marketing in depth. Which bits are driving traffic, creating enquiries or closing sales? Which ones are adding no value to the business at all and can be stopped? Where are you wasting money? What could be done better?
Focus on your own well-being
If you’re a business owner or a senior leader within an organisation, now is the time to plan some downtime, take some time off to re-energise and reconnect with hobbies you once had, friends you haven’t seen and places you used to go. Happy and relaxed people make better decisions and are able to get more done so take some time off whilst you can.