Cleanse Your Business Of Inefficiencies And Roadblocks In 2023

Advisory
December 14, 2022

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With 2023 fast approaching, we are reflecting on the year that 2022 was. All the goals reached and contacts made. All the jobs completed and targets achieved.

But we all want to grow and improve, so we ask, “What could we do better?”.

Like many personal aspirations, businesses can look for ways to improve at the start of the year. Not only their financial performance, team efficiency, and overall business health but also their capacity for growth and pathway to success.

Use this business cleanse to prepare for a more prosperous 2023. Cleaning your business of harmful roadblocks or inefficiencies early in the year will substantially impact performance and help you get closer to reaching your goals and optimise profitability through the new calendar year.

Here are eight things to cleanse from your business to make 2023 more efficient, profitable and healthier.

1. Underperforming staff

Who you work with profoundly affects your attitude towards work, affecting your client’s attitude towards the firm. Staff that are not working toward the same standard or vision for the business will only be a hindrance to growth and development. Cleanse out the bad apple and see your whole team’s morale flourish.

2. Toxic clients

Some clients add less value than others. The clients who require a lot of attention and then keep demanding more outside the scope of the agreement. Most of your clients are likely fantastic, but perhaps some rotten eggs are difficult to deal with and dramatically affect team morale and your profit margins. It’s time to let go of the clients negatively impacting your business.

3. Unreliable suppliers

Not only are these a headache to deal with, but they are also awful for business. Regardless of how long you have been in business together or how turbulent the supply chain is, there is only so much instability your business can handle. Consider finding new sources or securing exclusivity for the new year.

4. Unused software subscriptions and apps

Most business owners spend money on unnecessary software, programs, services, and other items they rarely or never use. If you can’t remember all the business subscriptions, go through bank statements and credit card bills to see what is being charged monthly.

Likewise, with your continuously growing inbox. What newsletters or updates have you subscribed to and never have the time to look into? Clear the clutter and click unsubscribe. Remove unused bookmarks and desktop items for a minimalist and clear view to enhance focus heading into the new year.

5. Unnecessary 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 and save countless hours in the year ahead.

Furthermore, ask your staff what tasks take the most time. Then, analyse what processes can be streamlined, automated or even outsourced to optimise efficiency.

6. Pointless meetings

This is a big one with many meetings in person again. How much time can you save by cleansing pointless meetings from your calendar? Is it essential 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 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. What wasted time or delayed proceedings could have been avoided by eradicating the other’s lack of commitment? Place contingency plans to help prevent this in the future.

An effective measure is to ensure you have a tight booking policy that protects you as a business. Perhaps consider cancellation fees or a deposit to ensure appointments are kept or covered.

8. Spare parts

Most business owners are unaware of how much ‘money’ is lying around in physical assets. Sell your spare parts or old equipment and turn your clutter into gold (or at least into extra capital). Invest back into your business and clear the pathway for financial growth and prosperity.

During the holiday season, honestly and accurately analyse your business to see what needs to be cleaned or streamlined. Give you and your business the best chance to claim every opportunity the new year offers and see your business reach new heights in 2023.

If you’re not actively managing your loan, chances are you’re paying more than you need to — and missing out on savings of $50 a week or more.

Whether it’s a mortgage, personal loan, or asset finance, small tweaks can unlock big savings. At AFP Finance & Loans, we’ve helped clients reduce repayments by over $2,600 a year — without changing their lifestyle or taking on more risk.

This article breaks down practical, proven ways to help you save around $50 each week on your repayments — and why working with a broker enables you to reach your goal of paying off your loan more easily.

1. Lower Your Rate

One of the simplest ways to save $50 a week is by securing a better interest rate. According to findings by PEXA, homeowners who refinanced to a new lender saved an average of $1,908 per year (nearly $37 per week) compared to just $384 annually for those who stayed with their original lender.

The kicker? Existing customers often pay 0.21% more than new customers. That small difference could mean an extra $70 each month on a $526k mortgage.

Refinancing through a trusted broker at AFP Finance & Loans ensures you’re not just accepting the status quo. We compare lenders, negotiate better terms, and help you avoid hidden costs.

Tip: If your rate drops, keep repayments the same to pay off your loan faster and save more in interest.

2. Switch to Weekly or Fortnightly Payments

Most people don’t realise they can make an extra month’s repayment each year just by switching from monthly to fortnightly payments.

If your lender calculates interest daily, this simple change can cut years off your loan and save thousands in interest.

While more frequent payments may not free up the whole $50 immediately, the compound savings are significant over time.

3. Use an Offset Account

Do you have savings sitting in a separate account? You could be missing an opportunity to save $50 each week in interest.

An offset account is a type of bank account linked to your loan. The balance in this account is used to offset the principal (the amount you still owe) — meaning the interest you pay is calculated on a reduced balance.

An offset account allows your money to shrink your loan amount, without locking your savings away. Funds remain fully accessible — but while they sit in the account, they’re actively working to lower the interest you pay (without any extra repayments).

For example, keeping $50,000 in offset on a 6% loan saves about $3,000 a year — or $57 a week — making every dollar work harder for you.

4. Cut Hidden and Ongoing Fees

Fees can quietly erode your savings. Annual package fees can range from $300 to $400, and monthly service fees still exist on many products.

By switching to a low-fee alternative or refinancing smartly, you could reduce your outgoings by $10–$15 a week. We review fee structures and recommend lenders who offer genuine value — not just teaser rates.

Why Work with a Broker?

From refinancing and rate shopping to offset structuring and fee analysis, you will be supported from start to settlement with AFP Finance and Loans. We’ll act on your behalf, comparing options and securing better terms.

With access to over 50 lenders on our accredited panel, AFP Finance & Loans assists clients with residential loans, commercial loans, personal loans, investment finance, and more. We do the heavy lifting so you can focus on what matters to you.

How to Start Saving $50 a Week, Today

You came here to save $50 a week on your loan, and by now you should see it’s easier than it sounds.

Many people overpay without realising. However, with better advice and a few simple adjustments, you can lower costs, improve cash flow, and stay on track financially.

The next step? Get expert eyes on your current agreement. AFP Finance & Loans can help you reduce repayments, avoid fees, and structure your loan repayments to serve your goals.

Book your loan review today to put $50 a week back where it belongs: in your pocket.