Volume 2 Issue 10 of RISBJ
As 2013 comes to an end, this is a great time to look back and reflect upon the past year. As we spend more time with family and friends celebrating the holiday season, this is one of the few times of the year that many of us feel a great sense of work-life balance. As we look ahead to next year, there are several aspects of business that we should review to help ensure an even more prosperous 2014.
Did your 2013 sales totals meet your projections? This is often one of the first things most business owners will look at as part of a year-end review. If sales were great, we want to look at what helped them get there and look at how we can sustain and grow in 2014. If our sales were less than expected, we need to dig deeper into the reason and look at resolving those issues before we let 2014 slip away.
As an integral part of our sales success, what new and innovative marketing efforts did we launch this past year? Did we engage more with social media, upgrade our website or attend trade shows? Understanding what marketing efforts returned the best results will help us continue to achieve our sales goals, and maximize profitability.
In addition to maximizing our marketing budgets, end-of-year is also a great time to review other expenses that affect our company’s profitability. Expenses such as rent, utilities, insurance, taxes and payroll are always at the forefront of every business owners mind. We should also be carefully analyzing other monthly fees such as Internet access, credit card processing, email marketing, cell phone use, office cleaning and anything else that we pay for on a regular basis. Small changes in each of our monthly costs could make a huge impact on the bottom line of any company.
How did our staff perform this past year? Did they meet or exceed expectations? Did we have new hires that are exceeding goals? Are we overstaffed or understaffed? As we address our staff performance, we also need to ensure that we have put the proper systems in place and set realistic goals to ensure their success. Proper staffing will maximize the efficiency of any business.
It’s always important to know what our customers think about our pricing, service and quality of work. This is a great time to reach out to past clients and get their feedback. This will help to make sure our clients continue to work with us in the coming year, as well as help us to address any issues that could be affecting our company’s growth.
At RISBJ, we have come to the end of another successful year, due to all of the support from the business community, our advertisers, our supporters, and our staff. We hope that your business has had a great year and look forward to growing with you again in 2014.