Looking at 2022, we take stock of all the successes accomplished – goals reached and relationships made; all completed jobs and targets achieved.
But to keep improving, we must ask ourselves: “What can we do better?”.
Much like our personal New Year’s resolutions when the new year rolls around, businesses can look for ways to improve their financial performance, team performance, and overall business health for the next 12 months to come and beyond.
It’s time for a business cleanse to prepare for a more prosperous 2023.
Cleansing your business of harmful roadblocks or inefficiencies early on in the year could substantially impact performance and help you get closer to reaching your goals and achieving optimal profitability as you navigate your business through a new calendar year.
Here are eight things we are done putting up within our businesses. Re-evaluate these points to make 2023 more efficient, profitable and healthier.
1. Underperforming Staff
Who you work with profoundly affects your attitude towards work, especially for your clients. Staff that are not working toward the same standard or vision for the business will only be a hindrance to growth and development. Clean out the bad apple and see your team’s morale flourish while nurturing your inner peace.
2. Toxic Clients
Some clients are just more trouble than they are worth. You know, the one you complain to your family about. The clients who, when they call you, and you see the caller ID, your stomach churns slightly. Most of your clients are likely fantastic, but perhaps some bad eggs are difficult to deal with and dramatically affect team morale and profit margins. It’s time to let go of the clients negatively impacting your business and mindset.
3. Unreliable Suppliers
Not only are these a headache to deal with, but they are also really bad for business. No matter how much of a great person they might be or how turbulent the supply chain is, there is only so much instability your business can handle. Consider finding new sources or setting a new agreement for the year.
4. Unused Software Subscriptions And Apps
Most business owners (and people in general) spend money on unnecessary software, programs, services, and other items they rarely or never use. If you can’t even remember all your subscriptions, go through your bank statements and credit card bills to see what you are being charged for each month.
The same goes for your continuously growing inbox. What newsletters or updates have you subscribed to and never had the time to look into? Clear the clutter and click unsubscribe… but not to this one.
5. Unnessaccary Steps
Automation and effective systems may take up a bit of set-up initially, but the beginning of the year is a perfect time to put them in place to save you countless hours in the months ahead. Hours you can spend doing things that enrich your life. What processes can be streamlined, automated or even outsourced to get it off your plate?
6. Pointless Meetings
This is a big one, with meetings becoming in-person again. How much time can you save by cleansing pointless meetings from your calendar? Is it necessary for you to attend? Does the meeting have an agenda and a time limit? Could it be relayed in an email or a quick phone call while you wait for school pick-up instead?
7. The No-Shows
Look at the previous year to see what number of cancellations, staff sickness, and even no-shows you may have experienced. Were there times you waited around or delayed proceedings due to the lack of commitment? Put contingency plans in place to help prevent as much of this in 2023.
One of the main ways to do this is to ensure you have a tight booking policy that protects you as a business. Consider cancellation fees or a deposit to ensure appointments are kept or covered.
8. Spare Parts
Most people do not know how much money is in physical assets if they just cleared the clutter. Sell your spare parts or old equipment and turn your mess into gold (or extra cash). This is a great activity with the family as it can show the value of the items in the house AND the office. You can use the extra pocket money to invest back into your business.
Take the time to have an honest and accurate look at your business. See what may need to be cleaned or streamlined.
Give yourself the best chance to live more intentionally in 2023, claim every opportunity the new year offers, and see you and your business in a much better financial position at the end of the next 12 months.
Contact us if you would like further advice on how to prepare your business for a prosperous 2023.