Blog

Tips for the new financial year

Casadee Wilson - Wednesday, July 01, 2015

At this time of year we see a lot of articles written that provide tips for businesses on what needs to be done before the end of the financial year, or how to prepare for the new financial year. We wanted to share with you some of our thoughts based on what we have read.

You cannot expect customers to come to you

One of the biggest mistakes small businesses make – particularly when first starting up, is they think that by simply starting their business and putting up a nice sign in the office or a logo on their shirt, they will attract new customers.
Unfortunately that doesn’t happen… You cannot just expect to sit in your office and have work just flood in. Especially in your first year, expect to wear out a couple of pairs of shoes, and go through hundreds of business cards introducing yourself and drumming up new business. Spending time promoting your business through good old fashioned face to face contact or will reap the rewards later.
Source
Myob - Startup mistakes – 5 lessons for your first year

Review and Update your marketing plans

The start of the financial year is the perfect time to either create, or review and update your marketing plan. Marketing is essential for all businesses big and small, and a good marketing plan can help reach your target audience, boost your customer base, and ultimately, increase your bottom line.
Many businesses don't place enough importance on marketing. They often see it as something that requires a lot of money and fancy advertising campaigns. However, marketing is about much more. By creating a marketing plan you are mapping out your strategy to reach your target audience including the messages and channels and tools you will use.
Sources
10 Essential Tasks for Small Business at End of Financial Year (EOFY)
Why do I need a marketing plan

Tips to grow sales in your small and medium business

For most small businesses, the owner usually leads the sales team. If the owner isn’t a natural at sales – and not everyone is – they need to find one quickly! Someone needs to be concentrating on finding and developing new business. They need to focus on nurturing and growing the business while keeping an eye on customer satisfaction and feedback. This will maintain sales momentum for the life of the company.
Source
Xero 5 Tips to Grow Sales in Your Small Business

We always welcome the opportunity to talk to you about your next (or first) campaign with us. So if any of the above has prompted you to think about getting some help with obtaining new customers, fulfilling parts of your marketing plan or helping grow your business please feel free to contact us.