14 December 2015

Take a fresh look at your business in 2016

A report produced by Axa highlights taking a fresh look at things, something we all do at this time of year. Don't forget that you have done some great things, and keeping a business ticking over is not at all easy. 

The report highlighted five things to be mindful of when in a reflective mood, these are listed below.

1. Don't lose sight of your goals

It's all too easy to get absorbed in the day to day and the here and now, but it's worth taking time to reflect on your business strategy - what did you set out to do, how you are performing, and how can you take your business to the next level? By keeping a tight focus on your goals, you are more likely to achieve them and will ensure you're properly resourced to take your business forward.

2. Promote your strengths

Remember what it is that makes you special, and your business unique, and keep telling people about it. Understanding and selling your strengths really makes your business stand out, particularly in competitive and crowded markets, so make sure that everything you say and do - from business pitches, to your website, to your social media activity - accurately reflects what you do and what you are best at.

3. Talk (and listen) more to your customers

Most businesses aspire to delivering great customer service but how do we know we're really achieving this? Taking time to talk and listen to your customers will give you a better understanding of their wants and needs as well as what they value about your business so you can make sure they keep coming back and recommend you to others.

4. Value your time

It often feels like there are not enough hours in the day, but do you know what your time is worth, and are you making the most of that? Focusing on the things that really matter will make your team more productive and grow your business.

5. Be aware of your risks

Don't let unforeseen circumstances destroy all that you've built. It's important not to just look at the opportunities, but also to review the risks to your business as it grows, and adjust your business continuity plan accordingly. Are you meeting all your contractual obligations? Are you covered should the worst happen? Make sure you are doing all you should to look after your business and have the right insurance in place so you're protected if you need it.

The BPIF are actively working with businesses across these areas as well as others, and can help you too. Contact us and use our experience. We are here for you at any time.