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.