Get Your Business Ready For 2020 With These Tips

Estimated reading time: 3 mins

In a few weeks, we will be moving into a brand new year – and what makes this new year even more special is that it marks the start of a brand new decade. It is the perfect opportunity to make some changes to your business, so why not spend the last few weeks of 2019 getting ready to launch the new decade.

Have a physical clear out

One of the best ways to get your head into a new, clear mindset is to have a big physical declutter and sort out. Do your research into tipping skips ready for a big sort out and get rid of any old paperwork, technology, and furniture that is no longer used or needed. Obviously, make sure you dispose of any sensitive or confidential information carefully and recycle where possible, but everything else: get rid. Once you have a clear, clutter-free workplace, you can start with the rest of your business.

Update your business plan

When you first started your business, you should have written a business plan, laying out how your business will develop and move forward, and what you hope to achieve. Now is the perfect time to take another look at that and update it. Look at what worked, and what didn’t quite go to plan, and adjust it accordingly. If you have done everything your plan said you would, what are the next steps that you can take?

Consider Outsourcing

You don’t have to manage absolutely every aspect of your business’ processes yourself. You also don’t have to always hire an in-house team in order to complete work. Instead, you can always consider outsourcing. Whether that’s outsourced IT solutions, Industrial IoT, accountancy or anything else. Sometimes, it’s easier to pass the book to a specialist outside of your company.

Review your supplier list

Many businesses wait until the end of the tax year to do this, but that can be a manic time of year for everyone, so why not start thinking about it now? Take a look at your list of suppliers and see whether they are working as well as they could be. For example, if one is routinely late with deliveries, is there an alternative you could use? If your broadband provider is slow or unreliable, have a look at others that can offer you the same package.

Review your customer list

Not every customer in your books will be beneficial to your business. If you spend many hours chasing up late payments, or they are overly critical, consider whether they are really worth the hassle. You can then spend your time and energy focusing on your valuable customers and going after new ones.

Brush up your business books

You don’t have long until your tax return is due, so make sure you spend some time having a look at your business books and accounts and making sure they are all organised and up to date. Not only will this make doing your tax return a lot less stressful, but if you keep your account spreadsheets up to date, you will always know how the financial side of your business is performing and make informed decisions about what to do next.

Use the start of the new year and the new decade to make changes in your business and get off on the right foot for the future.

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