It’s easy to get caught up in the day-to-day details of running a business. So every once in a while, it’s good practice to stop what you’re doing and take a critical look at your business — what’s working and what activities you should ramp up, what’s not working and what you should stop immediately.
By evaluating your business on a regular basis — like once a year — and looking at the big picture, you can ensure that you’re on the path to success (or you can find the path again if you’ve lost it).
If that sounds like a daunting task, don’t worry. We’ve partnered with QuickBooks to give you the five steps to jump-start your success this year.
The first thing to do — whether this is your first year in business or your twentieth — is set your goals for the year.
Of course you have revenue goals, but think about all the other goals you might have such as hiring new employees, or finding a certain number of new clients. Make sure those goals are specific so you can develop strategies and tactics to meet them.
Set goals for the whole year, then break them down by quarter and by month so you can make sure you are tracking against them.
After you set goals, we recommend you:
- Reassess your business plan. Are you meeting your overall business mission and goals or do you need to readjust?
- Evaluate your operations, sales, and marketing. Is your sales process slowing down your business? Do you have a marketing plan? Are you using the right technology to build loyalty with your customers?
- Scrutinize your accounts. Can you review your sales in real time to make better decisions? Do you have duplicate expense accounts?
- Prepare for tax season. Do you know when all your tax payments are due? Are you preparing far enough in advance?
Download 5 Steps to Jump-Start Business Success This Year to learn more about each of these steps and get helpful tips on how to do each of them.