5 tips to get your business ready for 2020

We’re down to the last 2 months of 2019, and it’s that time of the year where businesses are getting busy again as they address customer needs while preparing to wind down for the holidays. However, the holidays are no reason to not get ahead for the next year!

Below are 5 simple tips we’ve seen work for our customers to get ahead;

Fill up that appointment book

Start 2020 with a bang! December is usually the beginning of winding down and January is basically a write off. Why not begin setting appointments with leads now so when your potential customers finally get the time to run errands and actually talk to people, you’ll be first in their list. Proactiveness is the key: be one step ahead from competition, even if it’s just penciled into their diary for now, that’s more than what your competition’s doing.

Start planning for the key dates

Key events or dates during the year are not something you should take lightly; the end of fiscal year, for instance. You rarely get 9-8 months of planning for this major tax time, so it’s better to take advantage now that time is your ally. If you need more accountants and bookkeepers, you might want to start sourcing as early as now.

But this isn’t limited to manpower and resources; this could also translate into finding cost savings with the additional capacity.

Check your tech

Time and time again, business owners are reminded to utilise technology to create efficiencies within their businesses. Technology like Cloud encourages collaboration within your team members and guarantees the forefront of information security. Every aspect of your business can benefit from technology; it is only a matter of knowing what and when to use.

It must be noted, however, that technology’s advantages go beyond your internal space. Data privacy and security is a big deal for customers, especially when asked for their personal details. Tech also offer convenient ways for customers to do business with you: from digital payment solutions to improved customer experience (e.g. live chat). Customers tend to look at the tech businesses use before they transact. Before 2020, be sure to check your technology to start the new year with efficiency.

Remember the remarkable quote: If you’re failing to plan, you’re planning to fail.

Look at your books (know your numbers)

Before 2019 ends, take the time to look at your books. Double check your business’ financial transactions such as purchases, sales, receipts, and payments. In addition, look at your accounts receivable (AR) too and creditors’ invoices. Are you doing appropriate and timely customer follow-ups? Are these payments posted on time and as agreed with the customer? Are your suppliers and accounts payables (AP) paid? Who is responsible for these tasks? These are the things you should look at if you want to scale in 2020.

Don’t let chasing debtors disrupt business and books steer you away from doing what you’re best at. If you opt to do it yourself, be sure that you’re looking at it correctly and that no part of your business is left unsupervised. This is why we recommend engaging an expert instead to ensure accuracy and compliance.

Assess your 2019 performance

You’ve set your goals and milestones in the beginning of 2019, and it’s the perfect time to start assessing if you’ve met these goals. Are you on track this year? Will you try another strategy?

When thinking about these things, you should consider the options you have to achieve these goals and resolve whatever issue you had (or currently having) in 2019. For instance, if you found yourself having problems recruiting staff, examine what options you have to ease the recruitment process like re-examining your company policies and benefits to attract talent. You could also start engaging an outsourced recruitment specialist or consultant.

Why it matters to plan ahead

We’re seeing rapid progress in the business space day by day; resulting to the increased demand for businesses to be flexible and adaptable to these changes. Planning ahead and looking at different strategies and approaches early to achieve goals can make the difference between growing or closing your business in 2020. Remember the remarkable quote: If you’re failing to plan, you’re planning to fail.