Small Biz: Back to basics for your business
By Fern Nissim
It probably dawns on you, once you get stuck behind the big yellow school bus, that fall is slowly arriving. All of the dreams of summer plans and goals are fading into the leaves and reality starts to set in. If you have not ramped up any efforts to build your business over the summer, the new season is the time to get back to basics.
Here are five Golden Rules that should provide a checklist of basics to get you started:
Sharpen your pencils: It's time to take a look at the budget. Depending on whether you are a service or product provider, or a nonprofit organization, this is the time of year to review those numbers and adjust spending or development to meet end-of-year goals. Now is the time to do that and prepare for the holiday season ahead.
Prepare all your supplies: Like any new student, businesses need to evaluate their inventory. Do you have all the resource materials, support and information you need to round out the year? What shape is your client database in? Do you have a client reward and customer referral program in place? Is this the time to refresh some of those print materials and update your web site? It is important to take a close look at marketing efforts to support the season.
Check your test scores: There is no room for failure here; only A's and B's are acceptable. Research can be a help-ful tool in bringing your scores up. Have you surveyed your past clients to evaluate their experience? Getting customer opinion is key to building on successes and determining failures. Consider online or telephone surveys to benchmark your efforts.
Do your homework: Have you looked at your competition lately? What are they doing this fall that might catch the eye of your customer and minimize your share of market? Be savvy about your industry and keep up to date with all the latest news, regulations, market shifts etc. Resources for that are everywhere with the internet. The world is changing in a heartbeat these days and you need to be prepared for that change.
Be top of the class: You can be an all-around student and stand out in your class or industry by allocating time to the most important basic of all. Be visible and build credibility this season by making a new effort to participate in various gatherings, speaking opportunities, networking events, trade shows, etc. that will showcase your capabilities and give you the opportunity to build new business relationships.
The ABC's of running a business or organization include basic elements that are true in all seasons across all industries, but many managers lose their focus when getting caught up in the business of doing business. This fall, take a step away from that for a day, even if you just came back from vacation. Take the time to revisit what it is you're trying to accomplish.
It doesn't take a lot of creative planning to build the basics into your business. It does take some due diligence and an allocation of your time to make it happen. But the time invested will help you prepare for the new seasons ahead in a well organized manner...and any teacher would give you a gold star for that effort.
This article was written by Fern D. Nissim, certified marketing director, and founder of Round Pond Group LLC (roundpondgroupllc.com) a management consulting firm in Central Massachusetts that offers a full circle of solutions to businesses and nonprofit organizations.
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