Andy Kocemba
While the nights are still cold, the strong day-time sun is a great reminder that spring is right around the corner. With all the beauty and excitement of new growth and warm temperatures, spring can bring a lot of work. While certain cleaning and transitional tasks are expected, have you ever thought of giving your business a good spring cleaning?
Spring is the perfect time of year revisit your new-year's resolutions, and to reengage in those tasks that will put your business in a strong position as the year marches on. Here are three items you can tackle today to make sure your business thrives through spring, summer, and on to year end.
- Evaluate the here and now: Often the new year begins with the best intentions, but after a few months those intentions can fall by the wayside. Take the opportunity to determine if you are on track with your goals for 2023, and if not, get your operations pointed back in the right direction. A good way to gauge the current state of your business is by diving into your financial statements. Your Profit & Loss statements will give you a clear picture of what money is coming in the door, and what you are spending it on. Be sure those expenses are under control. Your balance sheet can give you insight into the health of your equipment, and whether your debt load is sustainable or getting out of control.
- Plan for the remainder of the year: Revisit your goal planning from the beginning of the year, and if you didn't set any goals for 2023, don't worry, now is as good a time as any. Take some time to really think about where you want your business to go in the coming years, and set a timeline and plot the action steps to get you there. Don’t be afraid to think big, but make sure your goals align with where you really want to go, not just what outsiders tell you your business should achieve.
- Draw in the experts: If you haven’t done so already, now is a great time to draw in accountants and other consultants to help you reach your goals. You are an expert in your industry, but these outside experts will help you reach new heights by utilizing skills you don't possess. They will keep you up to date and make sure you are taking full advantage of the latest best practices and technologies to grow your business. If they have any new advice, you will have plenty of time to implement them and see results before year end.
Whether evaluating the current state of your business, setting goals for the future, or hiring outside services, the key to all this is taking the time to roll up your sleeves and get it done. If you stay diligent and get your planning and prep work done, you can relax and enjoy the rest of the year knowing your business is in order.
Takeaways:
- Start by getting your financials in order
- Set goals for where you want your business to be in the future
- Utilize outside experts