Spring clean your business

Mar 29, 2012

Croombs Chartered Accountants in Hampshire

Hopefully by the time you read this Spring will have sprung!

I thought it would be useful this month to talk about ways in which you can spring clean your business to ensure you make the most of opportunities that may arise.

Firstly I would make sure that you are financially in a position to react to business opportunities as they arise.  The best way to do this is to ensure that your customers know your terms of trade and pay their bills when they fall due.  If they don’t pay consider placing them on stop to try and persuade them to part with their money.  Without cash you cannot grow your business.  Lending is still very tight at the moment and you need to look internally at ways of raising necessary capital.

Secondly, make sure your team of staff have the necessary skills to be able to deal with any increases in trade or potential new projects that may arise.  This will help your company both in the short and long term.  Your team will be able to operate more efficiently which will then ultimately lead to improved results for the company.

Lastly I would suggest going through all of the unsuccessful quotes from the past year and see whether it is worth contacting them again.  You never know they may now need what you are selling!  They may have fallen out with their existing supplier and be on the lookout for a new one.  They may not necessarily remember the quote you gave them a couple of years ago so it’s down to you to make them remember!

You may be reading the above thinking it does not apply to me because you do not employ staff or have a very small business.  This does not matter you can apply the above tips to any size business.  Your team of people will just be you and you will always have sales opportunities that have lapsed and could do with reminding who you are.

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