Back to School and back to Business
With the UK summer holidays over and the kids finally back to School, now is usually a good time to re-focus on your business and look at the priorities.
Focusing on the last quarter of the year after the summer period is a great time to reflect on your business goals, what you have achieved so far and what you still need to do for the rest of 2023.
A review of your business finances will provide you with the opportunity to put in place processes to help you to reach your targets. Evaluating your successes and dealing with any issues you are facing.
Top tips for ending 2023 on a high:
- Revisit your business plan and update your targets. Look at what you have achieved so far in 2023 and prioritise your key targets for the rest of the year.
- Review all of your costs to identify anything that can be reduced or removed. Have you seen an increase in any suppliers, if so, research an alternative.
- Set sales targets for the rest of the year to ensure you are on track to achieve your goals.
- Chase any unpaid debts.
- Evaluate your prices, with cost increases look at how much you are charging for your services or product to ensure you are maximising profits.
- Gather feedback from your customers, sending out a satisfaction survey will ensure you identify any issues which can be resolved.
- Exit strategy – have you thought about your long-term goals and how you will exit your business.
- Keep on top of your finances, being able to access your business finances from anywhere is crucial to allow you to have an accurate financial picture of your business. As Xero Platinum partners, our clients are able to view the financial position of their business anytime.
At Clear Vision Financial Management, we collaborate closely with many owner-managers and entrepreneurs providing a fully outsourced finance function. We look after more than the day-to-day accounting information and are on hand to review business planning, exit strategies and more!
If you would like to chat about anything accountancy related, please get in touch with the friendly Clear Vision Financial Management team. You can call us on 01794 330025 or email us.