13 TIPS TO PROGRESS YOUR BUSINESS IN 2022 Mags Boland Murphy, CEO at Bofin Consultancy, writes: 2022 has well and truly dawned and I hope that every business owner/manager/professional reading this is getting through the new year with their positive pants on and a sharp focus for the year ahead!
1. REVIEW, REFRESH, REENERGISE First things first, take time to review where you are at, what was accomplished in 2021? Take stock of what was done and what you need to do going forward. Look at new ways of doing things, how can you refresh your business? Reenergise not just the business but you as a professional individual. Take time to consider, “How can I breathe fresh air into my business moving forward?” When I do this, I honestly get excited about driving onward positively in a focused and committed manner for success.
2. KNOW YOUR NUMBERS The numbers in your business should not just relate to money and cash flow. There are other numbers you need to know in your business. i.e. your costs, the length of time it takes for the customer to receive your product or service, the amount of time you spend on customer service, the number of visitors to your website monthly, number of enquiries received, and so on. All of the numbers matter.
3. DEFINE YOUR GOALS We all need to have goals in and for our business, it helps to keep us focused on the prize, so to speak. What are your goals for the coming year?
INSIDE WEXFORD BUSINESS | PAGE 6
Again, this is not just about revenue goals. Do you want to develop a new product or service? Do you want to enter a new market for export? Do you want to grow your team? Do you want to develop your online presence? Your annual business journey and goals should be reviewed monthly to keep you accountable and on track.
4. PRIORITISE YOUR BUSINESS CULTURE I have always considered the culture in a business a powerful and valuable asset - if it is positive. Why is culture valuable, you may ask? The culture of/in your business can either positively or negatively affect staff retention, customer service, sales, and revenue, so this makes it immensely
valuable in my opinion. One thing that has come out of the pandemic is that the employee now seeks balance and it is not all about financial remuneration. “Throughout the pandemic, businesses have been dealing with the “Great Resignation” as workers are quitting their jobs at record-high rates. One of the reasons for this is that people are changing their definitions of what they consider a healthy worklife balance and what they want in a company culture.” Forbes 2021.
5. KNOW YOUR CUSTOMERS, LISTEN TO YOUR CUSTOMERS Do you know who your client/customer is? I mean, do you really know them? Where do they come from? What do they do? What age profile are they? Where do you find them? Take time to do a profile brief on your ideal client/customer. It will open your eyes again and help to refresh your approach and create new innovative sales and marketing. These are key today and tomorrow to help you reach more of your ideal clients and recharge revenue and sustain consistent cash flow. Show me a business who doesn’t need this. So much has changed for us all in the last two years and this is true for our customers as well. Their needs, wants, and expectations have changed and we need to listen to them. At the end of the day, they are the folks who purchase our products and services. I believe that we can and should take time to learn from our clients and customers. Personally, I think the day I stop learning is the day I will close the doors. Listen to your clients, accept the positive and the less-thanpositive feedback - it is valuable. Interact with your customers and really learn from them. Customers/clients can help you to identify what is working/not working, what trends are happening, and what influencing factors are impacting on purchase decisions … and that is just the tip of the iceberg.
