Financial review – How often do you do a full review of all your small business expenses? Sliding into the New Year can be a good time for a financial review as you have time to improve things before the close of the financial year. Business Plan
Look at your telephone and internet costs and ensure that you are on the best possible plan for your business. Call the provider and ask for a better deal or see if they have any new specials going that will better service your business into the future.
Do you use a delivery service, are you able to review the pricing around that and find a better priced model to benefit your business.
What subscriptions could you cancel that you receive and don’t really need to renew in the future? This could be both online and printed; perhaps there are better ways to keep your knowledge up in your business. Learning
Memberships, both professional and personal, are you a member of a business/personal group that you never attend? Do you receive back enough benefits or rewards associated with being a member, perhaps you should look to other areas rather than all the memberships you currently have. What about professional membership – are they all providing you what you need?
Stick to your business strengths and be consistent in the delivery of what you offer as this will help to minimize any costs associated with diverging from the main strength of your business. Streamline your processes and paperwork in your day to day business environment. Is there anything you can do more efficiently to maximize the delivery of your product or service? What about the outsourcing of your data entry; this type of thing can be done far cheaper by an outsourcing company than by a permanent staff member!
Finally what about your supply chain, could this be shortened in any way to improve your business efficiency.
Small business owners take charge and do a financial review today, ready for the New Year! My Sassy Business can help you to further strengthen your business with one of our leaning workbooks Strengthening your Business.
Why not start the year off utilizing one of our workbooks – a small cost to start the year strong!
If you enjoy our blogs – please sign up to our email list