10 things you need to do grow your business in 2013
DESCRIPTION
How to grow your business in 2013TRANSCRIPT
10 THINGS YOU SHOULD DO TO
GROW YOUR BUSINESS IN 2013
1. Set Personal Goals
• Personal goals and business success
go hand in hand
• What would you like to achieve in the
next 12 months? Write it down
• What things do you want to do?
• How would you like your life to be a on
a daily basis?
1. Set Personal Goals
• Plan your vacations and
time-off in advance?
• What do you want to learn
in 2013?
• How much money do you
need to achieve your goals
and dreams?
2. Set Business Goals
• Set specific business goals, they’ll keep
you focussed and on track
• Write down your goals
• Ensure your goals are:
• Specific
• Have deadlines attached
• Set goals in all sections of your business
2. Set Business Goals
• Set growth goals
• Set sales goals
• Set marketing goals
• Set HR goals
• Set profit goals
3. Have employees set goals
• Goals help keep your employees
motivated
• Encourage your employees to set annual
goals as it makes them accountable
• Encourage them to set training and
development goals
• It’s makes them accountable for their
actions
4. Develop a marketing plan
• Develop a simple 1 or 2 page marketing
plan that keeps you on track
Include the following in your plan:
• Your marketing goals for the next 12
months
• Your ideal customer
• Which customers you plan to target
• Your marketing to do list
5. Monitor and set expense budgets
• If you want to build a successful business
you have to control and manage your
expenses
• Analyse your annual financial statements
• Measure your most important ratios
• Set expense budgets
• Try and get value and reduce your
expenses
6. Update your business plan
• As your business grows your
business plan needs to be updated
• Update your vision statement
• Update your research
• Update your financial statements
• Make relevant changes and refocus
7. Calculate your break-even
• As your business grows your break-even
point changes
• Recalculate your break-even
• Retail Business = Operating Expenses ÷
GP%
• Service Business = Operating Expenses
÷ Hourly Rate
8. Develop a sales plan and set targets
• You need clear targets that help
you focus on increasing sales
• Develop a sales forecast for the
next 12 months
• Develop a lead generation
strategy
• Set weekly or monthly targets
you want to achieve
9. Develop a cash flow forecast
• You never ever want to run out of
money in business
• Develop a annual cash flow forecast
• Update it regularly
• Look for money long before you need it
• Communicate regularly with your bank
or investors
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10. Keep learning and don’t give up
• Make it habit to update your skills
• Read business books
• Attend webinars and seminars regularly
• Find mentors to guide and advise you
• Attend industry conferences and trade shows regularly
• Ask for advice
• Never give up
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