As we approach the end of this Financial Year and reflect on the previous one, it also means we’re about to start a new one. So what is it you want to change for the year ahead or learn from as you move into the future? In this post, we break down the FIVE ways to prepare for the New Financial Year.
1. Technology
Are you happy with your CRM and CMS? It’s a great time to start fresh, do an audit of what you already have and what you want to achieve with your technology. The digital age has well and truly come – keep up or get left behind! Businesses that automate lead management experience at least a 10% boost in revenue within the first 6 to 9 months (Hubspot, 2019).
2. Invest In Yourself
The safest investment is investing in yourself, especially in terms of learning and professional development. No matter what happens in your life, knowledge cannot be taken away from you. Take time to think about your strategic opportunities, where you could reach a new market, and then plan and prepare for how you’ll get there through up-skilling and training.
3. Put Your Tax Return Back Into Your Business
Similar to the above mentioned, although it may be tempting to use that tax return for a getaway or a new shiny thing, you should, instead, think of your tax return as money yielded by your business and for your business. Ask yourself: in what ways can you expand in the new financial year? This could be in the form of new staff, technology, locations, training, marketing, sales coaching, website, etc. Let your imagination run wild!
4. Time Is Money
Where are the time vampires hiding in your business? No need for garlic and wooden stakes, instead protocols and processes can get rid of these time-suckers. Delegation is your best friend for building capacity, along with technology. Time poorly spent, means time not spent nurturing leads, delivering outstanding results, training your staff, growing your business, or helping others. Time is the most precious resource in your life, don’t let it pass you by!
5. Plan Your Attack
Find a time to sit down and put on paper everything you want to achieve this year. Keep in mind this great quote from Bill Gates, “Most people overestimate what they can do in one year and underestimate what they can do in ten years.” Think about how what you’re doing now will set you up for the business and life you want to have in 5, 10, and 20 years. Write down the actionable ways you will achieve your goals this year.
These are the 5 ways to prepare for the new financial year. It’s not often that we take a moment to think about where our business is going. In the busy hustle-and-bustle of running a business and keeping up with the day-to-day, it’s easy to forget the big picture. Times like these are a great external trigger to remind you to take a step back.
My favourite part of my job is getting to do this with businesses all throughout the year. Being able to ask the guiding (sometimes hard) questions and then put in place a strategy to make it all happen. Hunt & Hawk deliver Sales, Marketing, Operations and Technology assistance and excellence to businesses all across the world, and we do it by getting our hands dirty. Drop me a line today to find out how your business can soar in the new financial year.
