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.
We have heard this quote before but are you preparing?
“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin,
Here are my five ways you can set yourself up for a successful New Financial Year?
1) Set clear goals and targets.
What do you want to happen this new 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 solutioncreator.com.au blog on S.M.A.R.T goals to see how you can capitalise on successful goal setting strategies.
2) Review your marketing strategy.
Do you need a new website? Are you utilising social media marketing for your business? Review your marketing strategies and decide where you could make some improvements. It could be an email campaign, a new business card, or even stepping up your Facebook advertising game. At the very least, you should make any necessary updates to your website page and social media “About Me” segments.
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.
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 could help you review your business objectively and help you to set goals for the new year.
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?
Taking the time to review your goals and finances will mean a successful new financial year moving forward.
If you’ve thought about bringing in a business consultant to assist in overviewing your EOFY outcomes, click below for more information.
I can review your business for a successful new financial year and where required connect you with some amazing professionals based on what we discovered and get you propelling forward.
Ready to take on the New Year CLICK HERE to discuss how you can do it differently this time.