How to hit the ground running in 2016

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I love the start of a new year and the sense of optimism that accompanies it. My team is refreshed and invigorated after the summer break and there is plenty of excitement and enthusiasm thinking about all the opportunities that lie ahead in the next twelve months.

 

Make this your year

 

So what can you do now to ensure a great 2016?

 

  • Refresh your business plan. The start of the year is a great time to review your business plan and update it with new goals for the year ahead. If you have struggled to achieve the goals set under the plan, consider if you need the support of a business coach to ensure you meet your objectives.
  • Stretch in Q4.  December and early January can be tough months for a business so a strong final quarter can make all the difference between a good year and a great year. Review your KPIs and identify any quick wins that can improve short term results. Set and communicate stretch performance targets for your team for February and March. Emphasis the correlation between strong business performance and their future remuneration.
  • Organise everything. Any down time in January can be used to organise or even better – remove – the clutter that accumulates in many work places. Consider how to reduce paper in your workplace– we’re not at the paperless office yet but even printing double sided will reduce usage and costs.
  • Go lean. Good for both body and efficiency. A process where a process is refined and unnecessary steps removed. Many of us will have systems and processes that have evolved over time with capacity added in a reactive way as the business has to handle increased volume and / or complexity of products and services. Pick a process that you know is using too much time and resource. Start with the outcomes required and build a new process in as few steps as possible. Implement. Use technology and other efficiency resources such as outsourcing. Call an expert if you need a hand.
  • Cut your losses. Steve Jobs famously arrived at Apple in 1997 for the second time as CEO and one of his first acts was to reduce the product range by 70%. Do the same and review all your services and products. Consider if the business case still stacks up.  If not, exit or cease the activity.

So there you go. Five things to do that can make a measurable improvement to your business performance in 2016. And for support to implement any of the above in your business, call your friendly GECA Adviser now on 0800 766 758.

 

Written by Giles Ellis, Director at GECA Chartered Accountants, providers of affordable expertise with a personalised service.

 

At GECA, we unlock business potential. If you need advice and services to grow your business, improve your results and protect your assets, then we can help. Call now on 0800 766 758 for your complimentary meeting.