As a business owner, most of your time is spent running your business. Your day is spent by putting out fires or talking to potential and current clients or encouraging your employees. Many business owners do not feel the need to reflect on what has happened in your business. Instead they want to keep moving forward because if they stop for a second, all their hard work could just go away. This is silly. If you pause and look around for a minute, all your hard work is not going to disappear.
Spring is a great time to "stop and smell the roses" that your business has produced. It is healthy for everyone and all organizations to pause and think back on the last year to evaluate what was done well and what needs to be improved upon. There are several areas to think about when you review your business. Here are just a few to focus on for the health of your business.
Pros And Cons
When you think back on your last year in business, which ideas really worked and which ones didn't work at all. Ideas that did not work should be stopped if you haven't done so already. Maybe there were some ideas that worked a little but need to be tweaked to make them better. What new ideas can be tested in the coming year?
Most businesses do not look forward to employee evaluations, but they are necessary. Evaluations not only force you (the owner) to look at what your employees are doing well and what they can improve upon, they also inform your employees of what they are doing well and not so well. Employee evaluations also let you know which employees deserve a raise and which employees should be given feedback and encouraged to improve in certain areas.
Show Me The Money
Spring is great time to review your financials for the previous year. Your financials can really help you see what areas of your business are making money and which are struggling to produce a profit. It may be time to cut some areas of your business that aren't producing or maybe even hemorrhaging money.
Your financials will also show how much money you are spending on expenses. Phones, cable, internet services, office supplies and advertising can be big expenses, especially for a small business. To reduce costs, you could consider using other vendors or renegotiating lower prices for these expenses.
If your website hasn't been redesigned in the last few years, now is the time to do so. The average lifespan of a web design is about 3-5 years. Most customers will get to know your business through your website. Web design trends and techniques are changing rapidly, and your website should be on the cutting edge. It must be up-to-date and be mobile friendly in order to attract customers.
You should also take a look at your brand for your business. It's the face of your company and you need to take some time to think about how your business is viewed by the public. Is your brand recognizable? What is your company's mission statement? Is your brand consistent across all forms of media? These things need to be thought about for your business to succeed.
It's important for you to think about these things so your business can thrive. If you need help with online content for your business, Tommy House Studios is here for you. THS offers services in website design, social media management, SEO and more. We are dedicated to you, the customer, with a 100% Customer Satisfaction Guarantee. Let Tommy House Studios help your small business with our online marketing services in Montgomery, AL and around the country. You can contact us to discuss your specific needs and to receive a free quote. Call us at 877-246-1315 or email at email@example.com and let us help your business.
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