It’s never been more important to start the new year with a bang. The current economic climate is tough and is causing many of us to spend our money wisely. Having said that, by taking the right steps you can give your small business the absolute best chance of success in 2023. Here’s our rundown of tips you can follow to hit the ground running in January.
- How did 2022 go?
- Create a successful business strategy for the year
- Is it time for a new website?
- Identify gaps in the market
- Carry out an audit of your tools and software
1. How did 2022 go?
A good place to start is with the year that’s just ended. 12 months is a long time in business and we’re sure you’ll have learnt plenty over the course of the year. What went well? What would you change if given the chance again?
Look at the cold, hard data that highlights your business’ performance in 2022. Did you hit projections for the year? Were there certain obstacles you hadn’t envisioned? This is also a good opportunity to collate feedback from across the business. How did everyone feel the year went?
The answers to all these questions can provide a solid foundation you need for building a strategy for 2023.
2. Create a successful business strategy for the year
With the information you’ve collated, you can start to put plans in place for the year ahead. Set short and long-term goals and then consider how you can best navigate successfully toward them. Is there a big target you hope to reach by the end of the year? Something like a new product launch or business expansion will take time and serious planning so it’s better to start thinking about it now.
Sales, finance, marketing – take everything into consideration and outline which areas of the business you want to focus on. You’ll find it’s much easier to drive growth and motivate your team with everyone on the same page which is why it’s so important to have a clear strategy in place.
3. Is it time for a new website?
Your website is a digital storefront. It’s the first impression of your small business for many customers and is your chance to establish who you are, what you do and why you’re the right choice for them.
Now is the perfect time to audit your existing site. Is it easy to use? Do pages take too long to load? Is the checkout process unnecessarily complicated? Almost 90% of users switch to a competitor after poor website user experience.
A website upgrade is an effective long-term investment. It’s a chance to show prospective customers that your business is the right choice for them.
4. Identify gaps in the market
This is often easier said than done but the start of the year is a great time to consider if there are any gaps in the market that you can exploit. Carry out extensive market research so you have the best possible understanding of the lay of the land as the year starts.
Include competitor research at the same time so you have an idea of what other businesses in your sphere are doing. What are they doing successfully? What aren’t they doing that their customers wish they were? We often spend so much time looking inwards that we forget to look above the parapet to see what others are doing.
5. Carry out an audit of your tools and software
And we mean everything. Every bit of hardware, every monthly subscription and software you rely on each day. Is all of it necessary? Could you upgrade the tech you have or streamline your software stack to cut costs?
The current economic climate makes it more important than ever to be aware of every penny your business is spending. Could you cut down the tools you have without hurting productivity?
Similarly, could modernising existing systems and processes at your business save money in lost time? For example, are you using an outdated phone system that in the long run is hurting both customers and your team?
The right phone system reduces communication bottlenecks and lets your team carry out their tasks quickly and without causing frustration. It’s a simple enough change to the way your business operates but the positive impact can be far-reaching. Customers can more easily get in touch and your team can coordinate and collaborate no matter where they’re working.
To see how your day-to-day business operations could be improved by a simple and easy-to-use cloud-based phone system, get started with a completely free trial now by clicking the link below.