The end of the financial year (EOFY) can often be quite a stressful time for small business owners. However, with good systems and strategies in place, EOFY becomes an opportunity to review your past successes and set the stage for greater achievements in the coming year. As a small business coach, I’m here to share five top tips that will position your business for strong growth and increased profit in the next financial year.
- Review Your Web Page: Take advantage of EOFY to freshen up your website content, update your homepage, and ensure flawless functionality across all devices. Fix any broken links, update testimonials, and reviews to instill trust in potential clients. A well-maintained web presence boosts your brand image and attracts new opportunities.
- Pay Your Debts: Regularly reviewing outstanding debts and overdue invoices is crucial part of being a successful small business owner, but the EOFY provides an opportunity to delve deeper. Review your loans and credit lines, ensuring your payments are up to date. Strategically plan your debt repayment, allocating an affordable monthly amount towards paying off those debts. Communicate with creditors if facing difficulties, as a genuine commitment to resolving the debt can lead to favorable arrangements.
- Review Your Business Plan: EOFY is a perfect time to evaluate your business plan as part of your EOFY routine. Acknowledge and celebrate your achievements, identify areas of excellence, and assess whether you’ve met the goals you set last year. This is a great opportunity to review what worked and what didn’t and then use these insights to set new objectives for the coming year. Review and update your SWOT and Competitor analyses, identifying new opportunities to leverage your business for success.
- Review Your Expenses: Uncover potential savings and growth opportunities by meticulously reviewing your expenses. Print out and analyse your last month’s bank statement, highlighting and reducing or even better eliminating any unnecessary costs. Your expenses directly impact your profit margins, so a comprehensive review will help maintain a healthy bottom line. Gaining valuable financial insights now will allow you to make informed strategic decisions in the new financial year.
- Consider Investing in a Business Coach: EOFY marks a perfect time to consider engaging a business coach for the upcoming year. A business coach provides fresh perspectives, expert guidance, and up-to-date knowledge on changes affecting small businesses. Leverage their experience and insights to fine-tune your strategies, set realistic targets, and enhance your skills. A business coach will support you in overcoming obstacles and ensuring a prosperous future.
Embrace EOFY as an opportunity for growth and success in your small business. By implementing these five top tips, you’ll position yourself for increased profitability, improved efficiency, and strategic decision-making. Take control of your business’s trajectory and partner with a business coach, like Fresh Business Solutions to make the next financial year your most successful yet. Remember, success begins with effective planning and a commitment to continuous improvement.
Remember always, Keep Smiling!
Setting SMART goals each month is a crucial step towards the success of your small business.
By making time at the start of each month to plan and prioritize your business activities you can ensure that you stay focused and on track towards achieving your desired outcomes.
In this blog, we’ll explore why setting SMART goals each month is vital for small business success and how it can revolutionize your entrepreneurial journey.
- Clarity and Focus:
Setting SMART goals provides you with clarity and direction. Specific goals allow you to define precisely what you want to achieve, whether it’s boosting sales, expanding your customer base, or launching a new product. With a clear target in mind, you can effectively plan and prioritize your actions.
- Measurable Progress:
The beauty of SMART goals lies in their measurability. By defining specific metrics and milestones, you can objectively track your progress. This then allows you to clearly assess what’s working and what needs improvement. Are you reaching your desired sales targets? Are you attracting more website visitors? Measuring your progress helps you stay on top of your game, make informed decisions, and adapt your strategies accordingly.
- Realistic Expectations:
Achievable goals are the secret to maintaining realistic expectations. Realistic goals give you a clear roadmap, instilling confidence and motivation. It’s crucial to set goals that are attainable with your available resources and capabilities. By setting achievable milestones, you can prevent feeling overwhelmed and burned out. Realistic goals ensure that you allocate your resources, whether it’s time, finances, or manpower, appropriately.
- Aligning with Purpose:
SMART goals help you align your business aspirations with your values and purpose. When your goals resonate with your business vision, they become meaningful and inspiring. As you set relevant goals, you create a sense of purpose that propels you forward during challenging times. Connecting your daily actions with a bigger picture provides a powerful driving force behind your small business success.
- Time-Bound Accountability:
Time is a precious resource, and SMART goals help you make the most of it. By setting time-bound goals, you infuse a sense of urgency and create a sense of purpose to prevent procrastination. They push you to take action and measure your progress regularly. Time-bound goals help you stay focused, making every moment count on your path to small business success.
Small business success is not a random stroke of luck; it’s a result of deliberate planning, focused execution, and strategic goal-setting. Taking the time to plan and clearly define SMART goals each month is just one tool that empowers small business owners to unlock their true potential. By incorporating clarity, measurability, realism, relevance, and accountability into your goal-setting process, you lay a solid foundation for achieving your dreams.
If you would like help setting your SMART goals for the month, why not book a 60 minute goal setting session with me! Use this link to lean more and book a time that suits you: GOAL PLANNING
So, take the leap, set SMART goals, and watch your small business thrive in ways you never thought possible. The sky’s the limit!
For small business owners, finding the right coach or mentor can make a significant difference in for your business and also your own professional growth and success. Whether you’re an aspiring entrepreneur or a seasoned business owner, seeking guidance from a coach can help you unlock your potential, refine your strategies, and achieve your goals.
Hi! I’m Emma Atkin, Business Coach and Founder of Fresh Business Solutions. I offer every potential client a free 45-minute discovery call as a crucial first step towards building a successful coaching relationship. In this blog post, I will explain the purpose of a discovery call and benefits it offers you.
A discovery call is the initial conversation between you, the prospective client and me, the coach and is designed to explore our compatibility, assess your needs, and determine whether our coaching partnership would be beneficial for you.
- Getting to Know Each Other
During this discovery call, you will have the opportunity to introduce yourself, talk about your business, and discuss your professional goals. I will also share my experience, expertise, and coaching approach, allowing you to gain insights into my coaching style and determine if it matches with your needs and goals.
- Clarifying Goals and Objectives
A discovery call is an ideal platform to discuss your goals, challenges, and expectations with your potential coach. Through open and honest communication, you can explain your vision for success and seek your coach’s guidance on how they can help you achieve those goals. Through open and honest communication, you can ensure that you’re both on the same page and working towards a common purpose.
- Assessing Compatibility and Fit
Every coaching relationship should be built on trust, compatibility, and mutual respect. A discovery call provides an opportunity for both the prospective client and coach to assess whether they are a good fit for each other. During our discovery call I will ask you about your preferred coaching methods, communication style, and willingness to commit to the coaching process. Similarly, you can ask questions to understand how I work, and the results I have achieved with previous clients. This assessment ensures that the coaching partnership will be productive and conducive to your growth.
- Exploring Coaching Programs and Services
Discovery calls also serve as a platform to explore the various coaching programs and services offered by a potential coach. Each coaching journey is unique, and during the call, you can discuss the different options available to find the one that aligns best with your needs. I will suggest programs that I think align with your business goals and explain the structure, duration, and content of those programs. This gives you a clear understanding of what to expect and how it can support your professional development.
This initial discovery call sets you up for coaching success by allowing you to establish a connection, clarify your goals and assess our compatibility.
So what have you got to lose? Let’s book a time to chat and take that first step towards growing your business and yourself as a successful business owner and entrepreneur!
Until then, Keep smiling!
Yesterday marked a significant moment for me. I finally faced up to one of my biggest fears, after months of procrastination and delays. To my surprise and relief, it turned out that the experience wasn’t nearly as dreadful as I had imagined it was going to be!
As humans, we all have fears. Some fears are rational, like being afraid of heights or spiders, but others are quite illogical, like (in my case) the fear of having professional photos taken.
These illogical fears can hold small business owners back from achieving their goals and reaching their full potential. In some cases, they can even lead to analysis paralysis, where you overthink a problem to such an extent, that you become overwhelmed by choices and decisions. Finally you just can’t move at all, and over time that can have a negative affect on the overall success of your business.
So, how do you overcome these illogical fears and analysis paralysis and move your business forward? Here are some tips that might help:
- Identify the fear: The first step in overcoming any fear is to identify it. What is it that you’re afraid of? Is it the fear of failure, rejection, or something else? Once you have identified your fear, you can start to work on ways to overcome it.
- Challenge your beliefs: Illogical fears often stem from limiting beliefs that we hold about ourselves. For example, you might believe that you’re not photogenic or that you’re not good enough to succeed in your business. Challenge these beliefs by asking yourself if they’re really true. Is there any evidence to support them? Are they helping you or holding you back?
- Take small steps: Overcoming illogical fears is not easy, but it’s important to take small steps in order to achieve your goal. In my case of having professional photos taken, I started by researching photographers and found someone who went out of her way to make me feel comfortable through every step of the process.
- Practice mindfulness: Mindfulness can help you stay focused on the present moment and avoid getting caught up in worries and fears. Take a few minutes each day to practice mindfulness meditation or simply focus on your breathing.
- Seek support: It’s okay to ask for help when you need it. Seek support from friends, family, or a professional if you’re struggling to overcome your fears or analysis paralysis. You don’t have to go it alone.
By practicing all of these steps, you can overcome your fears and go on to achieve your goals. Remember, the only thing standing between you and the success of your business is often your own fear.
Keep an eye out for my new branding photos coming soon, and if you need a great photographer for your business, I can highly recommend Tara from TrewBella Photography!!
Remember always, Keep smiling!
As a small business owner, you probably have a never-ending list of tasks that need to be done on a daily basis. From managing employees to responding to customer inquiries, reconciling bank accounts, and chasing overdue payments, it can be overwhelming to keep track of everything. That’s where the idea of a “Have Done” list comes in.
A Have Done list is exactly what it sounds like – a list of all the tasks that you have accomplished throughout the day. Instead of finishing the day looking at your To-Do list and beating yourself up for not having done everything that you should have done, a Have Done list is actually a celebration of all the things that you have achieved that day. It’s a much more positive experience that can benefit you in many ways.
One of the biggest advantages of a Have Done list is that it increases your productivity and motivation. Seeing a list of everything that you have accomplished throughout the day can be incredibly satisfying and motivating. It gives you a sense of accomplishment and encourages you to keep going, even when you’re feeling tired or overwhelmed.
Another advantage of the Have Done list is that it reduces your stress and anxiety. By focusing on what you have already accomplished rather than what you still need to do, you can avoid feeling overwhelmed or anxious about the tasks that are still ahead of you. This can help you stay focused and calm throughout the day.
A Have Done list can also help you improve your time management skills. By tracking everything that you have accomplished throughout the day, you can get a better sense of how you’re spending your time. This can help you identify areas where you’re wasting time or where you could be more efficient. Over time, this can help you streamline your work processes and get more done in less time.
So, while the traditional To-Do list can be helpful for keeping track of tasks, a Have Done list offers a number of advantages for small business owners. By focusing on what you’ve already accomplished and celebrating your achievements throughout the day, you can actually increase your productivity and motivation, reduce your stress and anxiety, and improve your time management skills. So why not give it a try? It may just be the productivity hack that your small business needs.
I have created a Free “Have Done List” template just for you! You can download it HERE and start to celebrate your daily wins and accomplishments!
Remember always, Keep smiling!
You have heard about them…..you know that people say they are important….but where do you start? And why are they so important anyway?
Look, the facts surrounding the success rates of small businesses in Australia are, quite frankly, terrifying! Statistics show that whilst small businesses are the backbone of our economy, providing jobs, goods, and services to local communities, 60% of those small businesses fail within the first three years of operation!
One of the critical factors that contribute to this high failure rate is the lack of a written business plan.
So what is a business plan? A business plan is quite simply, a written document that tells your business story – who your business is, what you want it to achieve and is a written roadmap detailing how your business is planning for the future.
A small business plan does not have to be a long and complicated document. A simple business plan will contain a description of your company – who you are and what you do, an analysis of your competitors, a marketing plan, key financial information and a section on your human resources.
Here are just 3 of the reasons why this business plan is so crucial for your success:
A Business Plan Clarifies Your Business Goals and Objectives
Sitting down and writing a business plan forces you as the small business owner, to think critically about what you want to achieve and how you will achieve it. By outlining your goals and objectives, you can get a clearer understanding of what your business needs to succeed and what you need do to reach your goals.
Provides a Roadmap for Growth
Your small businesses must have a plan for growth if you want to succeed. A written business plan can help you identify growth opportunities and develop strategies for taking advantage of those opportunities. Your business plan can also help you make informed decisions about when the right time to expand your business is and how to go about it, what resources you will need, and how much money you will need to invest.
Provides an Opportunity to Analyse your Competitors.
Business can be a fiercely competitive game, and so an important part of your business plan, especially if you are just starting out or are looking at introducing a new product or service, should be to perform a competitor analysis. By looking at your business competitors and working out their strengths and weaknesses, you can gain a better understanding of their business and in turn your own. This understanding will help you build on your strengths and help you carve your unique position in the marketplace.
Small business owners should take the time to develop a well-thought-out business plan and use it as a guide for making informed decisions and achieving their goals.
**SPECIAL OFFER! *
If you would like help creating a Business Plan, click here to book a 2 hour Business Plan Session with me, where we will work together through the Fresh Business Solutions Business Plan Guide.
At the end of this session you will have created a personalised Small Business Plan that includes Your Business Mission, Vision and Values, Your Business profile – Past, Present and Future, SWOT Analysis, Short and Long Term Goals, Operational Plans, a Marketing Plan, Organisational Structure, a Human Resources Plan and a basic Financial Plan
So Book a date and time now – I look forward to working and planning with you!
Remember always, Keep smiling!