The new financial year is a great opportunity to reflect on your recent past as well as plan for the time ahead. This makes it the perfect time to make minor tweaks - or drastic changes - to habits or routines which we’ve got ourselves into. This is the same for individuals and for businesses. A business needs to adjust to the ever-evolving marketplace trends to be able to succeed, so we’ve listed these 5 things that you should check that you’re doing in your business. If you are, double check everything’s still going to plan, and if you’re not, have a think about adjusting to make them part of your new year’s routine.
1. Unify your marketing and branding efforts
Businesses can now reach clients through a multitude of different channels, meaning that the number of clients will be spread over a larger area of sites, like on social media. Clients can click through multiple social channels which are easily accessible through each other, like Facebook and Twitter. Ensure that your brand and marketing efforts are unified and coherent across all channels. Social media strategy should definitely be a feature in your business’s website, and your advertising should clarify the messages that you are promoting with your content marketing.
2. Set team goals
Hold group meetings within your business. Discuss with each department what their own accomplishments and challenges have been, and what it is you want them to work toward next. Be clear on what your company goals are, and be sure to always stay on top of updating and keeping track of where they're at. This meeting time will allow you to reaffirm your mission statement and provide you with easy access into how the business is progressing, and how close you are to reaching company goals. You should update your company objectives to help give your team a clear objective and remember why the company exists in the first place.
3. Increase your legal and regulatory awareness
Although it can be complicated, there are few aspects of running a business that are as important as ensuring compliance with the law. Keep on top of how the legal and regulatory laws are changing.
4. Update networks
Keeping updated software and a secure network is essential to your business progression. The most common reason for a business’s network to become vulnerable to a cyber attack is due to the company's systems being outdated, exposing certain trails for hackers to flow into. So stay safe and make sure that you are running the latest version of software in all aspects of your business.
5. Organise your record-keeping
All businesses have lots of documentation containing information about every aspect of the company, and these will need to be kept organised to help the company run smoothly. Use the new year as a reason to re-organise and be ready for the new clients that it will bring. Consider adopting a new method to make it easier moving forward, like through online software solutions that digitise paper records and automate the record-keeping process. Keeping a well organised and documented company has many benefits, with the main one being that you’ll have easy access to any trade information you need.
Shieldpay protects both individuals and businesses in any transaction so that you can deal with anyone, anywhere with total confidence.
How do we do it? We verify the identity of both sides, funds are held securely in the Shieldpay vault and only released when both sides agree they’re happy. If anything doesn’t go to plan, we help out with any disputes!
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