The beginning of a new financial year is even more significant to a business than the actual new year. Though there may be less time to sit back and reflect compared to early January, it’s well worth blocking some time out to reset for a more successful new year in business.
Here’s how you can start fresh in business this new financial year:
Review your goals system.
A lot of people have goals, but do you have a system to ensure you keep them in mind, review your progress and ultimately achieve those goals? I use a quarterly plan with three major goals, a weekly review sheet to track how I’m going and adjust my actions where I need to, and a colourful monthly sales chart so I can see at a glance how my business is going financially (the colourful visual also helps motivate me). The new financial year is a great opportunity to devise a goal system that works for you, and perhaps build some bigger business, financial and personal goals.
Clean up your act.
Although EOFY is a busy time for most, setting aside a couple of days to clean up outdated digital and paper files, clean the office and review your systems and processes will go a long way to improve your business. An efficient, clean office with clear procedures in place means less time wasted and more time to make money! Some components of my business I’m reviewing this EOFY include enquiry and booking templates, project workflow procedures and our customer care program.
I started a paper cleanout over the weekend – although it initially felt overwhelming and I wanted to be out enjoying some time off instead, I started Monday feeling more organised than in a long time – it was well worth giving up some free time.
Check your marketing messages.
Do your branding and communications need a checkup? If sales weren’t where you wanted them (either in volume or product/service category) last year, it may be that what you think you are communicating about your business doesn’t match the message you are actually projecting. Gather all your brand and marketing collateral and get a focus group together – preferably a mix of team, clients and outsiders – to discuss what key messages are being communicated… and what they should actually be. If this feels totally out of your comfort zone, consider hiring a professional brand consultant to run through the process for you – it will certainly be the fastest way to achieve top results.
Although this is my area, there is always more work to do, and my next steps this new financial year will be to finish website updates to reflect a recent rebrand.
Wishing you a happy and prosperous new financial year!