A healthy business relies on regular check-ups to make sure each part is in tip-top shape.
We may often think everything is fine, but we may not realise how even small issues in parts of the business can affect its overall performance. And sometimes what was once a small issue, can eventually turn into a serious problem. Here's a few regular check-ups every business should do to identify problems early and keep your business running at its best.
Every business has customers they love dealing with. The ones you love are the ones who regularly use your product or service, are always on time with payments, and are low maintenance. But because they're so effortless to deal with, it's easy for good customers to feel like they're not being fully appreciated.
As part of your check up, look over your customer or client list, evaluate who the most valuable contacts are and develop a nurturing plan. Let them know you how much you appreciate them and make sure they don’t feel like they're being taken for granted. As for the others - try to turn them into good customers! It might just require one or two conversations to find better ways to work together.
Upgrade your technology
Software developers are constantly implementing new ways to streamline and simplify everyday tasks, along with helpful feedback from their users. Keeping up with the latest version of your business software ensures you're taking full advantage of the newest improvements in performance and operation.
A business software solution that works not only faster, but more intuitively, gives you more time to focus on managing other areas of your business. You may also find upgrading to a cloud solution can open up new opportunities and reduce overall costs.
Do an accounting clean out
Reconciling your accounts and records regularly is an important part of business growth and success. Overdue charges can get lost trying to keep up with the day to day of running your business. Set aside time regularly to look over your books; what actions need to be taken for aged debtors? Do they need to be followed up, or can they be written off? Can you resolve any outstanding credit issues? Are your own credit policies working for your business?
Resolving these issues quickly, or factoring them in to reports, gives you a clearer picture of your business's current health. An accounting clean out also means reviewing your direct debits and recurring costs to better control cashflow.
Conduct performance reviews
Don’t underestimate the power of a performance review, especially in-depth reviews letting employees know more than if they are doing a 'good job' or a 'bad job.' Use performance reviews to set future goals for employees to reach. Find out why they may be successful in some areas but lacking in others. Make your expectations of their future performance clear, and try to motivate your staff to better themselves in their role in your business.
A performance review also provides an valuable opportunity for staff to tell you how they think the business can be improved. Your staff can bring new ideas and perspectives on the business you might not have considered.
Update your online profiles
Having an up-to-date online and social media presence has become an important part of running a business, no matter the size. Social media users prefer word of mouth recommendations from friends and trusted sources when making their buying decisions. Keeping your business's website and social media accounts active and engaging can increase brand visibility in a way that targeted marketing sometimes cannot. It also helps your brand appear modern and accessible to potential customers.
Additionally, make sure your website is current - such as contact details, available products or services, formatting for mobile devices - and look for ways to promote your products or services on social media by posting photos or regular updates on new developments.