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Spring clean your business

It’s spring.  The birds are singing and the flowers blooming…apparently.  If you’re a business owner you’re probably so busy you haven’t had a chance to notice.  Spring is meant to be a time of clean outs and new beginnings. So here’s a few tips to help you spring clean your business.

Get the right people on board – research shows that one toxic employee can affect the productivity of the whole team.  Make sure your employees have shared team values and share in the vision of your business.  If you’d like help developing performance management strategies to help employees who are underperforming or displaying negative behaviours, BMO can help with HR advice and/or team building days.

Say goodbye to bad debts – slow payers and debtor days that drag out can significantly impact your cash flow and your bottom line.  Once you have your payment terms in place, make sure you send friendly reminders.

Streamline your systems – by now all employers should be on Single Touch Payroll.  If you’re not already using a cloud accounting package, why not have another look at this as many tasks that used to take you hours are now able to be automated.

Unsubscribe and declutter – Clean out your inbox and unsubscribe from emails that are not relevant or helpful to you. Change your store display and get rid of slow moving stock.

Dust off your jingle bells – Consider some fresh marketing approaches in the lead up to Christmas.  Go back to basics. Who are your ideal clients or customers? Stop telling them what you are selling them, but instead think about ‘What problem are you solving for them’?

Look for other ways to give your business a spruce up – There are a number of grants that get rolled out at this time of year.  Check out our blog on grants available>>

Apply these tips and just maybe you’ll notice the birds singing again!

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Megan Moran

About the author

Senior Accountant, Megan Moran joined BMO in July 2016, attracted to the holistic way BMO’s offers of a full range of financial and business services to clients (not just taxation).  Megan’s 17 years tax experience is backed up with a Bachelor of Business (Accounting) and CPA status. Having worked locally as a Client Manager and Senior Accountant, Megan’s focus has always been on READ MORE

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