Spring is upon us…and for anyone running a business, the focus will now be on ensuring the second quarter of 2023 is as successful as possible. Acclaimed business coach and consultant Daniella Genas will be supporting many entrepreneurs through this critical point of the year.
And Daniella says there are a number of small changes any business can make to boost their chances of entering the second half of the year in a strong position.
Daniella, founder of Be The Boss, says: “Running a business is time consuming. There are so many day-to-day, operational tasks that need completing. Often, they pop up just as you thought you had carved out some time to focus on strategic tasks. However, if you have growth aspirations for your business, making a few small changes in March could translate into the difference between success and failure.”
Here she shares her six March must-do’s:
Create a Strategic Vision Document
A strong, well considered strategic vision document outlines the direction you wish to take your business in quarter two. It is vital in the growth of your client base, services and/or products that you offer. How do you reach a destination if you don’t know where the destination is? You don’t. That’s why it is so important to have clarity on the direction of travel for your business.
Develop Better Bookkeeping
I know, I know you’ve just finished your tax return. But don’t be tempted to put all those receipts back in the drawer and forget about bookkeeping until next year. Keeping on top of your finances and bookkeeping will ensure that you have accurate records and will avoid hours of stress in the months ahead.
It can be a nightmare doing it manually, so make sure you use the systems that are available to make the process simpler. Bookkeeping software can be synced with your bank account to auto update your records. You can also use a bookkeeping service to ensure that it is done properly and professionally (and legally). You don’t want to have issues with the tax man so make sure you give this area some time and consideration.
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Create a Marketing Strategy
Social media and email marketing strategies are a cost-effective way of marketing your business to a larger audience. It is important that these strategies feed into a wider, focused strategy that determines who you are targeting, and how each method works together to achieve the overall aims of raising awareness of your business. You should have marketing goals and objectives as well as KPI’s. Make March the month to do this.
Knowing and understanding who your competitors are, will give you the advantage of being able to stand out from the crowd. If you are clear on the other options available to your target customers, you are able to develop strategies to demonstrate why you are the better choice. You can also use an innovation process to develop new products/services/processes to ensure you are the best choice. Take time out in March to look left and right at what your rivals are up to.
Taking the time to know who your customers are, what they want and how to make them feel valued is essential to the growth of any business. You should make it your mission this month to have more clarity in this area and plan business activity in line with this information.
Thank Your Customers, Clients and Staff
Your business can only survive if people/businesses buy from you. If you have had consistent customers and clients during the first quarter, make sure you let them know that they are valued and appreciated. Say thank you! Demonstrating appreciation could be the difference between them coming back and looking for an alternative. In addition to thanking them, ask them for feedback on how you can improve your products and services. If you have staff, then they have played a pivotal part in getting your business through the first quarter, thank them too. If you want them to stay motivated and committed, ensure that you thank them too. One of the key reasons staff stop performing is due to feeling unappreciated. Don’t let your staff feel that way.