Spring is the season of renewal. At home, it's traditionally a time for cleansing and de-cluttering, but it can be an excellent opportunity for reflection and rejuvenation for your business as well. Try these tips for "spring cleaning" your small business' operations to take maximum advantage of your potential for growth.
1. Review and Revise Your Business Plan
Almost all successful small business owners have two things in common: they formulate a business plan before they start out, and they periodically revisit that plan to make sure they're hitting their objectives. Evaluate what's working and what isn't with the big picture in mind, and you'll have a clear and actionable road-map for growing your business in the coming quarter.
2. Touch Base With Your Employees
"Agility" is a major buzzword in the modern marketplace: small businesses need to be able to respond quickly to new trends and opportunities. For this, you need motivated employees who feel consulted about where you're headed and how you're getting there. Take the opportunity to listen to your team and make them a part of brainstorming and analysis.
3. Connect With Your Customers
This is also an excellent time to double-check and update your customer lists and to reach out and touch base with your loyal clientele. Run customer satisfaction surveys, and engage the public with fun and creative on-site events including sales and product demos, lunch-and-learns and appreciation days.
4. Obtain Funding
A small business loan, cash flow loan, or working capital financing, whether for $10,000 or $500,000, can make previously unavailable opportunities obtainable; providing a customized solution in a time of need and keeping the lights on even when the going gets rough. With ready access to business capital, the possibilities are literally limitless, offering the assets you need to promote a positive trajectory and inspire healthy growth. And one more important detail... don’t overlook refreshing your business because it seems too expensive, or exhaustive. It does not need to be done all at once, start small and keep moving forward. Keep what is working and update what is not. And as far as the cost? Well, the price of not keeping a fresh and relevant brand can certainly end up costing you more in the end through loss of revenue and profitability. Wishing you a happy and prosperous Spring!