It’s time to step into spring.
With the season comes a great opportunity to dust off your business and breathe new life into your operations.
Not sure where to start? Here are a few ideas to get you going.
Deep Clean Your Books
If you’re like most business owners, you’ve probably spent the better part of this year neck deep in tax preparations.
If preparing your taxes is a nightmare each year, you should work on organizing your books. Review the process and software you’re currently using. Have you considered going paperless? The more systematic your processes, the more likely things will stay in order– which will make next year’s tax season a breeze.
Take a Look at Staffing
Scheduling employees can feel like a never-ending game of Tetris. And, if you’re not fast and efficient, it can quickly become a mess.
Take a look at your historical sales information by day, week, and month. This will help you figure out when to staff up for busy times and staff down for lulls — which will save you time and money.
Review Your Insurance Policies
Insurance is never a one-and-done process. You should review your business property, assets & insured interest each year with your insurance agent to make sure you have the correct amount of coverage.
The right agent will sit down and help review any changes you may need, and make recommendations to make your business more attractive to insurance carriers– thereby managing your cost & coverage.
Dust off your business plan
Many business owners only take out their business plan when they need it most– like when they’re looking for new investors or capital. But even if you don’t have an immediate need to use your business plan, it’s still a good idea to review it and make sure it’s up to date.
Annual reviews of this important document ensure you remain on track for any sales targets, growth forecasts, and other business milestones.
By keeping your business plan as current as possible, you’re also positioning yourself for the future.
Consider Revamping Your Space
Sometimes an office facelift can bring new life into your space. For clients, how a business cares for their office space is a direct reflection of how they feel they will be taken care of. If you can’t take care of that leaky ceiling tile in the hallway— how can you handle the clients’ needs?
While renovations cost money and time, an updated office can result in increased worker productivity and morale, and build brand awareness which drives your bottom line.
If you’re planning improvements, and you’re renting your business space, make sure improvements & betterments are clearly outlined in your lease. Before beginning any remodeling or additions, check with your landlord. Do you have the right coverage? Check out our article that goes over where coverage lies when sprucing up your rented business property.
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