The Three R's
Review | Reset | Revenue
Did you kick the goals you needed this year to get a win or is there still work to do?
If you didn’t, what do you need to know, what do you need to do?
It’s very important to be clear of all of these things and more. It’s not enough to just get your accountant saying ‘sorry but no profit’ yet still you have to pay tax.
Even if this year wasn’t the greatest for your business, the end of the financial year is a great time to reassess your goals and set out your stepping stones for a better year.
Have you don't that yet?
Or are you just hoping it will be better this year?
We have heard it before but are you actually actioning it?
“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin,
Here are five key ways you can set yourself up for a successful New Financial Year Even in October!
1) Set clear goals and targets. What do you want to happen this financial year? Do you want more profits, more time, clearer procedures, systems… You will need to decide which goals will benefit your financial situation. Evaluate what your business could have done better last financial year and set goals which implement change. Check out our blog on S.M.A.R.T goals to see how you can capitalise on successful goal setting strategies.
2) Review your marketing strategy. Is your website over 2 years old? Are you checking how effective it is for traffic? Are you still doing your own social media marketing for your business? Are you reviewing your marketing strategies and making some improvements or delegating? It could be an email campaign, a new business card, or even stepping up your Facebook advertising game. Do you have a gold class client on-boarding system and client journey? Visibility matters!
3) Clean out your email folder and sort out your documents. When was the last time you sorted out the documents on your computer? It’s the perfect opportunity to clear things up and be organised for the new financial year. Are you one of those people who have 389 emails still sitting there unread? Take a day to go through your email list, clear out any junk emails and delete any unwanted emails. This way, your emails and documents will be easy to update and locate if needed be.
4) Identify where you went right…and where you went wrong and decide what you need to do better! What did you miss last financial year? Where would you like to be instead? For some people, it could be the procedures and culture within the workplace which needs reviewing. For others, it could be sales or marketing. Assess where your business is now and where you would like it to be in 12 months. Celebrate your wins and make plans to make up for your losses. Have you considered bringing someone in to do a business health audit? A business consultant can review your business objectively and path out your goals moving forward. Often it is better when you do this with someone else for a bigger overview and sound boarding! Especially if they have done it themselves successfully!
5) Review your clients. Consider the clients or customers you have had over the past 12 months. Were they your ideal client? Did they get the most out of your service or product? Focus on which customers were the best for your business and focus on how to attract more of them this year. When we focus on attracting our ideal client, instead of just everyone, our business flourishes. They are also more likely to become lifetime customers and bring in new customers via word of mouth.
Did you ask them for google reviews?
If you don't like numbers or don't understand them then it's certainly time to pass it over to someone that does! Investing the time to review your goals and finances will mean a successful financial year moving forward.
Do what you always do and you will get what you always get!
Be Ready to take on the next 6 months and finish in the black
CLICK HERE to discuss how you can do it differently this time and create the results you went into business in the first place for!
Less stress, more time with your family, less working in the business!