5 Ways You Can Improve Your Business
So business is going well, but you want to improve it even further? Today, we have 5 tips for you that will help your business step up!
Evaluate Your Systems
Are all of your systems streamlined? Are potential clients dropping off a certain point in your sales pipeline? I would strongly advise you to check out your systems. Not only can streamlining save you time (can I get a hell yeah?!) it can also save you money in the long run. Bear with me, I know it sounds a bit like a stretch. So, for example, if you upgrade your regular till to a POS system that hooks up with your accounting software (e.g., Xero) then that can really save you a lot of time when it comes to reconciling the bank as everything is feeding into each other, reducing the time spent on data entry.
Is your service or product readily available?
If you are service based this is even more important now. We live in a world of now. What do I mean by this? Everyone wants everything immediately. If you do not have a system where someone can book a service or meet with you on their terms (immediately), this could mean that a competitor will gain their custom, and you are left out of the running.
Stay on Top
Keep on top of your finances. I know what a shock that we accountants would tell you that! But, on a serious note, it's crucial to keep on top of your finances. Knowing how your business is doing can help you make important decisions, for example, whether you can afford to buy that new van or take on that extra member of staff. If you want more information on cash flow forecasting, then check out our toolkit, or get in touch. Even simply keeping on top of your bookkeeping on a regular basis (at least once a month) can open your eyes as to what you are spending your cash on.
Expand You Passive Income
Can you offer any materials, an e-subscription, an e-course sharing your expertise? Gone are the days where the stigma that you could only own one source of income. You heard the saying "Jack of all trades, master of none", right? Well, that isn't the case when it comes to passive income. The idea of passive income is little work for maximum gain. Now although this may sound too good to be true, expanding on what you already do, by offering materials or e-subscription is a good place to start. Try with one first, and see how it goes.
Is there someone you know who's client base is similar to yours? Partner up with them! Not only are you offering your customers and audience more, but you are widening your potential audience and clients. See, that's why it's always nice to share.
Try out some of these tips and let us know how you get on! We would love to hear from you. By working with the cloud and streamlining our processes (see we practice what we preach) we are able to work with some great clients all over the UK, although we are based in Southampton. So if you would like to set up a free introductory call via Zoom click on the link; alternatively get a quote here and we'll call you!
About the author
Chloe Slade is the Marketing Manager here at Cone and focuses on creating content that brings business and lifestyle together. Chloe is keen makeup lover, foodie and loves to work from luxurous destinations.