10 tips for a successful year ahead. Part 2

26th December, 2015

Here’s Part 2 of our 10 tips for a successful year ahead. 

In our article on preparing for the new year, we had a look at some ways that business owners can start making sure they’re ready for a successful year.

Here are five more things you can focus on to make the next 12 months great.

6. Your role in the business

Too many business owners say they end up spending too much time in their business, rather than working on larger plans and direction. Now’s a good time to consider how that relationship is working in your own enterprise. Do you have enough time for strategy?

If not, carve out some regular time in your schedule to make that happen on a regular basis, perhaps fortnightly or monthly. The long-term prosperity of your business will be the result.

7. What large investments do you need to make?

Plant, equipment, tools – these are the lifeblood of so many businesses. If you’re dealing with outdated equipment, consider whether you need to upgrade.

This is a significant financial decision, so you need to couple this move with the financial review mentioned in the first article. But if you know you need to upgrade towards the end of the financial year, you can start planning for it now.

If your business is in Australia, speak to your adviser about whether the instant write-off for small business assets under $20,000 is something that may benefit you.

8. Automate manual tasks

Too much of your work is manual. Did you know that you can automate all types of tasks?

Everything from extracting data reports in Google Analytics to scraping bank data for accounting software (which MYOB can take care of with its bank feeds feature) can be automated.

Even things like sending follow-up emails to customers can be automated. Check out the MYOB Add-On Centre for a number of business tools that can integrate your accounting software with your email marketing strategy.

Start by looking at the tasks that take you the most amount of time, and then figure out to automate them to put your effort back where it belongs.

9. Book some time off

Business owners tend to do a lot, but they aren’t very good at managing their own time off. Plan well ahead for some holidays in the next year so you can take some time out, recharge and think about the next steps your business needs to take.

And make sure to leave the laptop at home.

10. Plan a strategy getaway for your top leaders

One of the most important weapons on a business owner’s arsenal is strategy and vision. Take some regular time in order to decide what the next steps for your business can be.

But you can’t always do that on your own. You need to get your top team involved. Instead of depending only on yourself, book some time in – it could even be in January when everyone returns from holidays – and take some time away from the day to day to think about what you could really accomplish in 2016.

Think big. Think ahead of the next 12 months, and then use the next year as a way to get closer to your long-term goals. Without that vision, you’ll be lost.

Take some time away with your team and gain some clarity.