it’s up to you Mr. or Ms. Owner, to do everything you can to make this your most successful year ever!
2018 is finally here folks, and as you begin aligning your staff, resources and strategies for another year of success, I challenge you to focus yourself on making this year your most profitable one ever!
It’s no secret that I am a firm believer in the importance of having a living, breathing business plan attached to every organization. In my opinion, operating without one is like setting sail in a ship without a compass, and you will need this roadmap to success to truly supercharge your results throughout 2018.
Start by reevaluating the successes and failures of 2017, determining what worked and what didn’t throughout that year. Next, document your goals for 2018 including milestones for profits, cash flow, and business goals, and then consider the following four areas of immediately actionable, profit-generating strategies:
Break your clients up into A and B categories. A-Clients are your best clients, and the ones who are reliable and consistently shop with you. B-Clients, on the other hand, are your more difficult group, and the ones who require the most out of your attention and efforts. Raise the prices of your A-Clients by 1%, and your B-Clients by 2%. Not only does this tactic easily increase cash flow, it does so without any extra efforts, resources, or costs on your end, and will make a minimal impact on these clients.
Take a step back and review the effectiveness of your staff. Are there members of your team who have become the weaker links? Is everyone carrying their load? It’s time to assess, recondition, or part ways with the members of your staff who are not performing. Every business owner aspires to success, and if they have staffed their organization with folks who are not on the same page, it’s better to cut everyone’s losses.
When was the last time you spoke with your top account, your CPA, banker, or insurance agent in person? What are you doing to make sure everyone knows who you are, and why they matter to you? Focus your attention on building, or reestablishing, meaningful relationships with your support network, this year. It’s important that these people know who you are, why you matter to them, and why they matter to you and your business!
After you’ve documented your success strategy for the year, bring everyone in your organization up to date. Make sure they know the direction of the business, and the part they will play in its success. The New Year will end just as quickly as it arrived, and it’s up to you Mr. or Ms. Owner, to do everything you can to make this your most successful year ever!
If you have questions about getting started, or need advice in developing your New Year’s success strategy, feel free to message me @MoscaSmallBiz. Happy New Year!