Month end is always a good point to take some time out to review your business. And because we are at the end of a quarter, it may be a good time to review your business in a bit more depth.
Areas to look at are:
- Dig out your plan for the year. Where are you against the targets set in that?
- Products/Services – which ones are working and why? Should you drop ones that aren’t working? Does what you are delivering tie in with your mission statement and values?
- Customers – Review your customers. Do they appear to be happy? Are some becoming difficult to handle? Should you stop working with some? Where are your new customers?
- Marketing – how is this going? What do you need to change or commit to doing for the next quarter
- Finances – Are your expenses and income as expected/on track? Are your products/services priced correctly? Are you paying for services you don’t need or rarely use? Are there cheaper alternatives?
- Market Review – What is going on with your competitors? Are your clients asking for different things? Have you identified areas your customers may need support with?
- Networking – Are you getting a good return on your networking investment? Think of the time and money you spend on it. Are you getting the business or knowledge that you are looking for? Do you need to stop any?
- Resources – Do you have the right resources? This could be people, product or technology. Do you need to outsource some work?
Doing this on your own may feel a bit daunting or overwhelming. You may feel that you don’t want to face the tougher questions. If you need help with reviewing your business on a monthly or quarterly basis then do get in touch.