Posted by: Robin Gronsky | March 28, 2013

Spring Cleaning for Your Business (Part II)

I hope you read my previous blog post where I outlined for you what your business spring cleaning should start with.  Once you are past the first steps of your spring cleaning, you should continue with a crackdown on getting rid of business practices that didn’t work for you in the past year.

Review your marketing.  Was it done on a consistent basis?  Did you track your results to know what was working and what was a waste of your money?  Did you try anything new or are you using the same methods you’ve used since you opened for business?  Make a decision to throw out what didn’t work and do more of whatever did work.  If you are not sure, spend some money finding a good marketing coach.  If you are thinking that you can’t spend the money, let me put it to you this way:  if you spend $2,500 and you get $10,000 worth of new business, can you now find the money?

Schedule a meeting with your accountant for after tax season.  This meeting will not be just to go over your taxes for the next year.  You want an accountant who can help you look at your business and suggest strategies for making and keeping more money.  These kinds of accountants are out there and you should be regularly consulting with one of them.  Call me if you need a referral.

Take a look at your employees and independent contractors.  Who is working out well and who is mediocre?  There is a lot of good talent out there looking to move on to a better opportunity.  If you have employees that aren’t top notch, fire them (unless they have a contract with you and their performance does not meet the definition of default).  Same with independent contractors.  When their contract comes to an end, do not renew their services.  Look for someone better.

Also, while you are thinking about employees, check your employee handbook (you do have one, don’t you?).  When was the last time it was updated?  Have you instituted new rules and procedures that need to be added to your handbook?  Call your lawyer now and schedule an appointment for an updated employee handbook.  Having everything in writing protects you from various expensive lawsuits that your employees can start.

Finally, track your actual performance from the projections that you made a year ago.  If you are not doing as well as you had hoped, zero in on what area of business did not work well.  If you can’t figure out where you are coming up short, consult with a business strategist.  Again, would you spend some money on advice if you thought it could bring in twice as much as it cost? I would do that every day of the week.

Most business owners spend most of their days putting out fires and wearing all the hats in their business.  It will be worth it for you to take the time, at least once a year, to clean out what isn’t working and think of how to do things differently to make more money.  If you don’t change things, nothing in your business will change.

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