Spring is finally here, and the time couldn’t be better to take a closer look at your business to see how things have been going over the last year, and how things can be improved. Your Spring-cleaning task shouldn’t be perceived as overwhelming or a fault-finding exercise, but an opportunity for you to improve on what you’re good at, maybe cut some unnecessary costs, try to make things run easier for everyone, and of course discover ways to make more money.
Here we have a handful of Spring-cleaning ideas for you to think about, and hopefully put into action…
Time to look at the finances
Of course, taking a closer look at how you performed financially over the last year needs to be at the top of the list. Your financial data will provide you with the answers you need to move forward in this next year of business. For example…
- How did you perform last year compared to your plans?
- Did you make any decisions that improved matters, and could those improvements be built on or expanded this year?
- What decisions did you make that didn’t work out, and how can you change these?
Does your business plan need revisiting?
According to Entrepreneur the constantly updated business plan makes order out of chaos. Business plans are never set in stone and need to be regularly reviewed and evaluated to stay relevant. We all know that in business, situations and circumstances continually change; following an unsuitable business plan set many months back will be pointless. Tweak your business plan where needed to help you progress to the next set of goals you want your business to reach.
What about your staff?
A business is only as good as the staff that run it. Maybe it’s a good opportunity to take a closer look at the roles of your team members and what they do. For example…
- How did they perform in the last year?
- Are they right for the role they are doing?
- What skills are they lacking, and could they benefit from some more training and development?
The labour shortage shows no signs of going away, so staff is valuable. Investing in your people, helping them grow and achieve their own goals, will only serve to strengthen your team and, in doing so, make your business better.
Cast an eye over your supplier agreements
From your insurance provider to suppliers you use – could better deals be negotiated with any of these to help save your business money or improve the service/products/supplies you receive? Service providers and suppliers are always changing what they offer and prices they charge to keep up with their competitors. Don’t be frightened to ask them whether they are prepared to offer you better deals. The way to do that effectively is to understand how negotiations work. Here’s a tutorial to get you started.
Review the systems and technology you use
We all become quite complacent with the technology and systems we use every day. It’s easier to ignore glitches and not bring about change, but are there better systems out there that could help you do more in your everyday work and ease the pressure? Taking the time to find out more about new technology and systems may pay off big time and help you take your business to the next level. There is currently an interest-free government loan program in place to help independent businesses upgrade their systems and tech.
Take a close look at your website and online profiles
For customers there’s nothing worse than landing on a website or social media profile that’s showing out of date or incorrect information. A winter menu in May is not a good look. Take your spring cleaning on the world wide web and view your online presence with a critical eye. Out with the old information and in with the new. And whilst you are at it, assess your website or social media profiles from a customer’s perspective – could they do with a complete revamp? For excellent tips on all things social media follow @forgoodcode – you’ll also find hacks for Excel, innovative ways to implement AI and a plethora of info about where to find free business tools all over the internet.
CHI is dedicated to keeping up with local and national trends in the Restaurant Industry to help serve our customers better and keep them one step ahead. If you are interested in opening, purchasing, or selling a restaurant CHI Real Estate can help. Get in touch with our team today.