Time to Take Stock of Your Business By John DeSimone.

Time to Take Stock of  Your Business

By John DeSimone, President, Herbalife Nutrition

With the beginning of the second quarter of the year, now is  an excellent time to take stock of your operations, clear out what doesn’t work, and add what will make it more successful in the future.

Take Stock

Small business owners are often so busy trying to get through the day that it is difficult to pause and reflect on what changes can be made to improve their day-to-day processes, and more importantly, their customer’s  experience. Allow yourself one afternoon to get out of your typical environment – perhaps head to a local coffee shop with comfortable seating, or outdoors in fresh air – and on a pad of paper, iPad or laptop, jot down what worked for your business in the past year and what didn’t. Did you hit your sales targets? What challenges came up that slowed you down? Do you need to remind yourself of your “why” to keep yourself motivated? What can you start doing that can impact both your business and your community? Of the items that did not work, assess if you are still doing them and write a note about how you will fix or improve the situation. Use this time as an opportunity to embrace change, set new goals, and find new ways to make an impact.

 

Clean Up

Cleaning up for a small business can mean getting accounts in order – including following up with inactive clients who you may be sapping resources – and setting the stage for the rest of the year. Do you have boxes of files that need to be shredded or filed? Shredding banking information or accounts no longer required for tax purposes is a safe way to clean up your office. Or maybe you want to eliminate paper clutter all together and scan it all into your computer. Going digital isn’t only vital for successfully connecting with people, it can also help you stay organized; clearing your headspace to be able to focus on the parts of your business that really matter. Whether you’re using financial tools to track or handle automating payments to help you save time, or digitally organizing files on your computer, having easy access to important files, notes or documents with the click of a button can help simplify the back-office operations of your business. Commit to doing 15 minutes every day for one month to clear out and clean up your office. Toss or donate any unnecessary clutter, keeping only important reference tools or education materials that may help you advance your business.

 

Reconnect

It would help if you took the time to connect with former customers or clients with a personal note or forward an article that may interest them. Garner new business prospects by reaching out on social media and bonding over a shared interest instead of selling them on your service. You may also want to use this time to research industry networking groups, online training, conferences, or seminars that can help build your skills, to potentially unlock new opportunities. Mentors are extremely important asset when running a business, they can provide support and motivation, while also sharing important business skills that can have a direct, positive impact on your business, life skills and personal development.

 

Refresh 

Small businesses benefit from offering new services to clients to keep customers engaged. Most likely this time of year, your customers are also looking for refreshing new products or solutions to improve their lives. Perhaps you have a new product line, have created a membership platform, or have expanded into new areas that your customers value. Share your knowledge of  trends in your industry and your plans for keeping your business up-to-date and giving back to your community, with your customer’s needs in mind.