5 Tips for Preparing for the New Financial Year
The end of a financial year is a great time for reflection.
It provides you with an opportunity to think about what you want to change in the 12 months ahead or learn from as you move into the future.
In this article, we deliver five top tips for preparing for the new financial year.
1. Reassess Your Technology
Let’s start with a key part of any contemporary business – technology.
Are you happy with your CRM and CMS?
Year end is a prime time to start afresh and conduct an audit of what you already have and what you want to achieve with your technology.
If you’re not automating as much as possible and leaning on data-driven marketing strategies, you are missing an opportunity to achieve maximum efficiency and positive outcomes.
2. Invest In Yourself
The safest investment is investing in yourself, especially in terms of learning and professional development.
No matter what happens in your life, knowledge cannot be taken away from you.
Take time to think about your strategic opportunities or where you could reach a new market, and then plan and prepare for how you’ll get there through upskilling and training.
3. Put Your Tax Return Back Into Your Business
Similar to the above point, think of your tax return as money yielded by your business and for your business.
Although it may be tempting to use that tax return for a getaway or a shiny new thing, consider whether this is the best move for the year ahead.
Ask yourself: In what ways can you expand in the new financial year? This could be in the form of new staff, technology, locations, training, marketing, sales coaching, website, etc. Let your imagination run wild!
4. Remember, Time Is Money
Where are the time vampires hiding in your business? No need for garlic and wooden stakes; instead, protocols and processes can get rid of these time-suckers.
Delegation is your best friend for building capacity, along with technology.
Time poorly spent means time not spent nurturing leads, delivering outstanding results, training your staff, growing your business, or helping others.
Time is the most precious resource in your life – don’t let it pass you by!
5. Plan Your Attack
Find time to sit down and put on paper everything you want to achieve this year.
Keep in mind this great quote from Microsoft co-founder, Bill Gates: “Most people overestimate what they can do in one year and underestimate what they can do in 10 years.”
Think about how what you’re doing now will set you up in business and for the life you want to have in five, 10, and 20 years. Write down the actionable ways you will achieve your goals this year.
It’s not often we take a moment to think about where our business is going. In the busy hustle-and-bustle of running a business and keeping up with the day-to-day, it’s easy to forget the bigger picture. Times like these are a great external trigger to remind you to take a step back.
Adopt these five tips for preparing for the new financial year, and hopefully you’ll be reaping the rewards.
Preparing for the New Financial Year? Partner With Us!
At Hunt & Hawk, we have a super-talented team of marketers ready to catapult your brand to the front of the pack with tailored and well-conceived strategies and executions.
Reach out to us today.
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