You may be wondering how you can make your small business thrive this year. There are many ways that you can help boost your business this year; and propel you to where you want to be in the business world.
At Surrey Accountancy Limited we are really fortunate to be based in Epsom, Surrey; full of amazing small businesses, making the local area a small business hub. Here are our go-to tips for keeping your businesses booming in the year ahead…
Stay focused on your niche and/or market
You know your business better than anyone and what you want to achieve with it. Don’t get overexcited and try to get involved in different markets. This doesn’t mean that your business can’t branch into different areas or that you as an entrepreneur can’t have different businesses in differing markets, but specialising with a clear audience in mind will make networking, marketing and planning a lot easier and targeted.
Organise your accounts
This is so important! You need to make sure you have a budget for what your business can achieve and stick to it. If you do not manage your books efficiently, and do not have an accountant to help, you can find yourself with cashflow issues early on, and unsure of how to recover.
You can read more about the importance of cashflow via our blog here.
This year make your business thrive by keeping your books organised and profitable. No matter what business you run, bookkeeping is a critical part of it. Accurate bookkeeping is the only way to be in control of your business financially, and it is essential that your bookkeeping is organised. Find out how to get your finances in order via our blog here.
Learn from your customers
As your business grows listen to feedback you may get from your customers. Whether it’s good feedback or constructive criticism, you can learn from it and push yourself and your business onwards and upwards.
Jason Boyce (CEO of Dazadi) said ‘In this day and age you cannot spend enough time reading your own product reviews and improving your product based on that ‘boots on the ground’ feedback. Listen to the customer and improve your products so that your products and sales improve’
Build and develop a team
As a small business owner you will never have enough time to everything you need to do, there’s just never enough hours in the day!
Building a team will not only give you support and improve the service your provide, but it will also help to grow your business and help you thrive. Think about what you can outsource to other small businesses, giving you more time to focus on key parts of your business, such as growth.
Do you have a lot of administrative work you don’t have time for? Maybe hire a Virtual Assistant to assist with these tasks.
Are you spending too much time on your bookkeeping? Outsource to a qualified bookkeeper, such as our team at Surrey Accountancy Limited. You can find out more about our bookkeeping services here.
Do you dread your Tax Return or are constantly struggling to find the time to file it? Outsource to an accountant, such as our team at Surrey Accountancy Limited.
This is helping you and helping other small businesses.
Be Passionate
Finally, one of our biggest tips for thriving this year, is to remain passionate about your business. It can be easy to lose focus and forget why you started your business but when you are passionate about what you do, the products you sell, and the customers you do business with, you will give your business purpose and growth.
Make 2022 your year and make your business thrive!
Contact us here for more information and to start your journey with us at Surrey Accountancy Limited.
