With the winter months fast approaching we gathered some top tips from a few of our XPAC partners to help your business get ahead this EOFY.
James Webb – Managing Director, Link Strategies Group
- When starting a new business, thoroughly research your market. Know your competition and learn from them. Firmly make up your mind the type of business you want to be, and how you want others to perceive you.
- Work on your online presence. So much new business these days comes from online searching or engagement. Make sure when people look for you, your website conveys authority, and you work your online review platforms.
- Have an accountant who recommends and uses cloud accounting packages. Also, make sure they are offering a package which gives ongoing and organised advice to not only assist your tax situation, but help bring value to your business.
Robin Allardice – Director of IT and Innovation, Bentleys
- Plan what you want to achieve for the year, determine how you are going to measure your achievements and hold yourself accountable (or get someone else to).
- Keep your administrative tasks up to date, you can help yourself with this by automating as much of it as you can.
- Invoice regularly and follow up debtors.
Megan Faraday-Bensley – Director, Prosperity Advisers Group
- Time is a limited commodity. To do new things and create new habits, you need to stop doing activities and bench old habits.
- Do you do things that others could do? Focus on delegation. Leverage the time of others to get tasks progressed. Only get involved when they’ve advanced to a stage where they need your input.
- Cease and desist from doing repetitive tasks. Take advantage of technology and start automating repetitive processes.
Check out Megan’s full post here.
Gabrielle Osborne – Practice Manager, Premium Business Group
- Success starts with you. Owning a business has never been easy but – in the constantly connected, 24/7, global environment that we operate in today – ensuring you prioritise your well-being is not only vitally important but also incredibly challenging.
- Do a technology tune-up. When was the last time you reviewed the systems and technology in your business? There are constant updates and new players that improve and often cheapen the price of technology.
- Purge pain points. As anyone who runs their own business knows, it’s easy to get tangled up managing the day to day, lurching from one mini-catastrophe to the next, ignoring the bigger vision you have. The new financial year is the perfect time to step back and look at your flows of frustration that waste time and energy. Then you can put measures in place to stop them recurring.
Here’s Gabrielle’s new financial year resolutions for your business.