Review all your systems from top to bottom. What is working and what is not? Why? For both questions. If it is working, is it the most efficient way? If it is not, why not? Decide where the problems are and figure out what can be fixed. You might be able to fix them yourself, or you might need outside guidance. Maybe you need a computer expert to help you use the technology more efficiently or maybe you need a financial expert to improve the way you do your books. Whatever you do, don’t assume anything. Don’t assume that just because you have had a certain system in place from day one that it is adding value to your business or your customers. A system review (flow chart) can be an eye-opening experience for business owners. They are usually surprised to find that their business has fallen into habits that are hindering them from being more successful. Don’t add extra staff for this process. Start with your own staff.
Engage your employees as partners. The best people to help you solve problems, particularly those involving customers, are the ones who experience them on a daily basis. That’s right. Your employees are a wellspring of ideas on how you can make your customers happier. Hold a start-of-the-year meeting designed to get them to share those ideas. This should be a light, enjoyable meeting where they feel comfortable sharing ideas. ALL IDEAS! There is never a dumb idea. Two thoughts that may seem random and useless put together may yield unbelievable results. Let them help you and they will own the ideas and implement them with gusto. If you have had a good year, let them know by praising them – Publically – and if possible, in their paycheck. They are your most important assets. Without them, you have no customers, and no business.
Hold annual performance reviews. Discuss with your employees what they can do to help the company run more smoothly. While you are reviewing their performance, talk about their strengths. Would they fit better in a different department? Have then been doing the same job for years? Look for signs of burnout. Help good employees recognize that this might be happening and put them in a new job where they can regain their enthusiasm.
Clean up your office! Now that you have your employees engaged and ready to start the year off right, talk about what needs to be done to get ready for the year. What can be shredded, what needs to be stored? It’s time to get rid of all of that stuff that you either don’t need or that doesn’t work anymore. Your employees will like working in a cleaner environment. Chances are they will be happier and more productive. And don’t limit your efforts to the inside of your building. Do not forget to take a fresh look at the outside of your business. Take the employees for an ice cream, coffee, hot chocolate. While you are out for a walk, look at the building, get ideas. Are there things that you could do to make it look nicer? You might even freshen things up with a new coat of paint or some potted plants. As the employees see the place freshened up, they will come to work with a more upbeat attitude.
Who are your best customers? You may be surprised to find out that your best customers aren’t who you think they are. Examine all your customers through a profitability lens. The customer that demands the most time doesn’t mean they are the most profitable. You may find that the most needy customers and the most profitable customers are two different groups. While you should treat all customers well, identifying your most profitable versus your most demanding will allow you to decide if you need to “fire” some of your customers. That’s right, sometimes you need to admit that you cannot do everything for everyone and suggest to your more demanding customers that they need to go elsewhere.
Touch base with your customers. Be sure to tell them you appreciate their business and ask if there is anything you can improve on or do differently to help them grow their business. At the same time, if you have one or two customers that you went way over the top to complete their order, do not be shy to ask for a reference. Try to do this at least once a month. Word of mouth is still the most powerful sales technique.
Review all vendor contracts. Take a look at how much business you are doing with each vendor. Are you getting optimum pricing based on how much you are working together? Is the relationship mutually beneficial for you and for them? If not, don’t be afraid to make a change. If you’re happy with your vendors, take the time to tell them. Let vendors know that you want to create a great relationship with them.
Review insurance policies. Often insurance policies are set up and then put to the side, forgotten, until something happens. Then, too many business owners discover that they are not adequately covered. Make sure that you meet (minimally) with your agent on an annual basis. By taking the time to make sure you have adequate coverage, you could save a lot of money and problems down the line. This is especially important if changes have taken place in your company during the past year that affect your liability. Also, if you provide health insurance, you should look at any changes that have taken place and decide the impact on your business.
Review your marketing campaign. Do you have one? Was it effective? What worked and what did not? Again, engage your employees to help with this portion of your business.
Overhaul your website. Again, do you have one? Is it up to date? Make sure any phone numbers, email addresses, business addresses etc are current. Is staff listed? Are pictures provided? Make sure that these are current. Make sure all information listed is current.
