Spring Cleaning for Small Business Owners
Oh, my goodness my closet is such a mess!
I need some serious spring cleaning!
I have clothes that I can’t fit into anymore.
I have pocketbooks that I’ve owned for ten years.
I have coats that are sooooo out of style.
I have shoes that are so worn I’d be embarrassed to put on.
Where do I begin to clean up?
Just as my personal closet needs cleaning so does our business stuff as well, including papers, notes, journals, files, books, emails, stickies, people, projects, and on and on.
So where do we begin to clean up the business?
The clothes in my closet don’t “fit” anymore.
Businesses can purge themselves of outdated and unprofitable products or services.
A close analysis of the profitability of your products and services will reveal which ones to keep and which ones to let go.
A detailed profit and loss statement shows the overall health of the company. It reveals if and where money is being lost or produced.
The following questions should be asked:
- Are we spending more money than we are making on this particular product or service? Why or why not?
- Does this product or services still “fit” into our business model? Why or why not?
- Should we continue to include unprofitable products or service in our current budget spending? Why or why not?
In the same way, you purge your closet of the clothes that don’t “fit” anymore, a business should consider purging outdated and unprofitable products or services.
When you purge out the unprofitable products, this allows company time and money to be spent on developing new products and enhancing profitable ones that already exist in the business.
Increasing the bottom line is always the right plan!
Grab my free “Product Profit & Loss Template” and analyze your product’s profitability as part of your business’ spring cleaning!
The clothes in my closet are so out of style.
Businesses can replace their old methods with new technologies.
With online shopping and social media ads, I can shop and replace my out-of-style clothing and accessories with ease.
About the business world, new technology and organizational resources can easily replace your old, out of date software while saving company time and money.
Don’t have time to research and integrate new tools? Think again.
Many companies offer online tutorials, testimonials, and free consulting that will help you implement new technology and resources, thus shortening your learning curve.
Quick implementation saves your business time. Faster processing saves your business money.
Saving time and saving money is always the right plan!
Check out my article on “Is this Accounting Software Right for My Business” and add new technology to your business’ spring cleaning.
The clothes in my closet look worn.
Businesses can keep a beautiful brand and professional image by paying attention to details.
No matter how good we may appear when all dressed up, worn out shoes always kill the look!
In this regard, our business may look healthy and attractive to our customers from a distant look. But a closer look can reveal a fatigued business and stop a sale in its tracks!
Keeping a consistent, clean, and attractive brand speaks volumes about your company and you, as the business owner.
Continual review of your product imaging and packaging and your social media presence, including your website, Facebook, LinkedIn, Instagram, etc. is critical.
Having great referrals and testimonies about your customer service, your value proposition, and your expertise, as the business owner will add to your customer base.
Your customers and employees are very smart and can quickly detect when details have not been paid attention to. As leaders, how we take care of ourselves and our businesses speaks volumes to our employees and customers.
Paying attention to the details of our day to day business transactions, keeping our brand polished and shiny (like a pair of newly polished shoes) and maintaining high integrity, professional image to our customers and employees are cardinal leadership characteristics. First – class characteristics of a leader create a successful business!
A polished and attractive looking business is always the right plan!
Oh Yeah….!!! Spring Clean your Way to Success! Get your download now.
Your Venture Coach & Biggest Fan