How to improve the performance of your small business

Business Performance

Here at Better Business at Hand, if we had to offer one word of advice for small business owners it would be to spend more time working on your business.

 

With so much to do when you’re running a business, it’s easy to focus on day-to-day operations. But to improve performance, it’s essential that you spend time working on – as well as in – your business.

 

Devoting quality time to getting things done will make your processes more efficient in the longer term and help you run your business in a better way.

 

12 small business tips to help you improve performance

  1. Assess the situation

Where is your business now? Carry out a SWOT analysis (strengths, weaknesses, opportunities, threats) to evaluate your current situation. The market your business operates in won’t stand still ­- there will be opportunities you couldn’t have predicted when you first started. Make the most of what you discover, your research could uncover a gap in the market for a new product or service.

 

  1. Review your plans

Don’t consign your business plan to a dusty vault – it’s a living, breathing document that will help you get where you want to be. To keep your business on the path for growth, have a process for reviewing your business plan and evaluating its success. You might decide to look at your business plan every quarter or once a year, the key is to be consistent. Regularly review your personas so that you understand current customer needs. For business planning advice, book an appointment with small business consultancy owner and Better Business at Hand consultant, Maria Pombo.

 

  1. Set clear goals

As part of your business planning, it’s essential that you set clear goals. This will help you and your team understand what needs to be done to achieve success. Remember, it’s not all about the big wins, build in mini-objectives and celebrate small wins.

 

  1. Create brand guidelines

How customers see your brand is crucial to business performance – get your content creation and marketing right to make valuable connections. Create brand guidelines to ensure that your content is consistent and is a true reflection of your business purpose and vision. The visual content you create, the words you use and your tone of voice all combine to influence how customers perceive your business.

 

  1. Develop sound processes

If you develop sound processes, from handling your accounts to marketing and business planning, the rest will fall into place. At Better Business at Hand, we specialise in advice for small business owners ­- sometimes it’s not all about the big stuff. Forming good habits and repeating the little things, the everyday procedures, will help you achieve your goals. Our consultants can help with questions on business processes and more so do get in touch and arm yourself with expert help. Meet the Better Business at Hand team!

 

  1. Plan for problems

Running a business is a bit of a roller coaster with plenty of highs and a few lows. Sometimes a problem strikes but if you’re prepared things will run more smoothly. You can’t plan for every eventuality but having a Disaster Recovery Plan in place so that operations can continue is a good idea. We give small business advice when you need it most and can help find solutions to your problems.

 

  1. Set up a team of experts

As small business owners, we can’t know it all. It helps to have professionals you can call on when you need small business advice. At Better Business at Hand we have a readymade team of experts to support your business. Whether you need help with accounts, marketing, business planning or have a general query, you can book appointments of 15,30, 45 or 60 minutes to suit your needs and budget.

 

  1. Know your finances

Your finances are a major indicator of business performance. A healthy balance sheet indicates that your business is performing well. One of the best pieces of advice for small business owners is to know your cashflow. If you have an accounting issue, Chartered Accountant and Better Business at Hand consultant, Tim Vogel, is on hand to help.

 

  1. Communication is key

Have update meetings with team members and any outsourced professionals to ensure consistency of approach and to check that everyone is on board with any planned activities. Communicate regularly with your customers via social media, email campaigns and other marketing channels.

 

  1. Get feedback

Get regular customer feedback to monitor satisfaction and uncover ways to improve your current offering. You can make changes based on feedback. But factor in any costs to make sure you will make a profit once the changes have been made.  Ask customers what they buy from you, why and what they value about your products or services. The answers will be gold dust for your business!

 

  1. Monitor online customer experience

Look at your online offering regularly to check that the experience across the website is consistently good for customers. Use analytics software to understand how your customers use your website and how you can improve their journey. Need help? Speak to our expert Stirling Austin, a Business Development and Web Design Consultancy owner.

 

  1. Ask for help

Asking for help is a sign of strength. There are huge benefits to seeking advice from an expert who isn’t involved in your business on a daily basis, they will bring a fresh perspective. At Better Business at Hand, we help small business owners solve challenges and see their problems as opportunities. We can find better solutions for your business issues.

 

Key takeaways

To improve business performance make time to work on your business.

Focus on setting up plans, procedures and systems that will help you run your business in a better way.

Adopt a consistent approach. Keep doing what you’re doing and you’ll get there.

Need help? Better Business at Hand can advise on Legal Services, Marketing, Business Growth Strategy, Accounting and more.

Book an appointment with one of our expert team for small business advice tailored to your needs and budget.

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