Spring cleaning


Heading into warmer weather, it’s time to reinvigorate your business with some ‘spring cleaning’

Spring cleaning
Spring cleaning

August 6, 2013

As the mid-winter mark passes, now is a perfect time for business owners to contemplate how to take advantage of the burst of new energy the warmer months bring, says MYOB CEO Tim Reed.

Reed encourages Australia’s SMEs to invest in ‘balcony time’ over the next few weeks to consider how to start a good spring clean that will put the business in good stead for the year ahead.

"Business owners of all ages, industries and sizes can find keeping up momentum through the colder months a bit of a challenge," he says.

"As tempting as it is to bunker down, it’s the perfect time to energise and engage your team with a thorough business clean-up."

Reed says the weeks before spring can be used to renew everyone’s enthusiasm about the work plan during the warmer months.

"When taking time out to plan a spring clean, business operators might ask themselves the following questions.

"Do some systems need streamlining for greater efficiency, so I can hit the warmer months with more time up my sleeve?

"Could my operations manual do with a thorough update and run-through so everyone’s working from the same page?

"Could my staff training program benefit from a shake-up to improve engagement?"

Reed says a review of the previous year’s performance reports, and an assessment of the processes and systems that took you there will provide clarity around what is and isn’t adding value.

"Laying last year out should lead you to exploring new ways to address those problem areas," he says.

"For example, you might find you need more information to make key business decisions or you need help with keeping up with basics like cash flow, billing and understanding compliance costs.

"It might be time to ditch old systems like pen, paper and spread sheets and find a new way to take control of your business. Cloud accounting software is increasingly affordable and simplifies many of these business elements."

BUILDING A WEBSITE

Reed says a key revenue generating activity that surprisingly few SMEs take advantage of is a business website.

"It puts you online where your customers are researching their purchase decisions," he says.

"Even more importantly, it’s been shown to significantly increase the likelihood of an annual revenue rise.

"If you don’t have one consider the business return you’ll get from taking 20 minutes to create one – there are easy, affordable website builders out there these days."

According to the latest MYOB Business Monitor, Australian SMEs with a website were 60 percent more likely to have seen a revenue increase in the year to February 2013.

"If you already have a business website, consider how you can make it even easier to find," says Reed.

"Can you update it more frequently? Provide more visuals of products and services? Link it to your social media profiles? Offer an e-commerce facility? Take a look at websites from your competitors and other companies you admire to get ideas," he says.

Reed says with the new financial year now started, it’s the ideal time to check your business’ progress against your plan.

"Successful operators use a business plan as a living document, regularly referring to and reassessing it," he says.

"Rather than making a plan and filing it away, use every opportunity to revisit your progress towards goals and celebrate key milestones with your team."

You can also follow our updates by liking us on Facebook