10 Tips for jump-starting your business in 2011

14 Jan 11

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Everywhere you look at the moment, there are articles about New Year's Resolutions telling us now is the time to be planning for the year ahead.  Of course, everyone wants their business to achieve big things in 2011 and everyone is full of good intentions.  But where do you even start?  Here's some suggestions (just don't call them resolutions!) to jump-start your business in 2011.
 
1) Conduct a SWOT analysis on your business (that's looking at the Strengths, Weaknesses, Opportunities and Threats).  It doesn't have to be an essay but you might be surprised at what you find.  Note any gaping holes/thoughts down and then make sure you follow them up.

2) Write a marketing plan, think about how you can target current clients as well as potential clients both off and online.  Don't just file your marketing plan away in a drawer, it should be a working document that you refer to and revise throughout the year.
 
3) Set goals, but make them realistic.  Use the information you have from the SWOT and marketing plan as a starting point. Don't just focus on winning the lotto; you are far more likely to achieve your goals if they are attainable.  Bite-size is best, so aiming to increase sales by 5% a month, is easier than aiming to increase sales by 60% in the next year.
 
3) Consider whether your product or service can be improved.  If you offer a service, perhaps there are aspects of it that you could turn into a product, such as an online tutorial.  Think about any objections or hurdles potential clients have when considering purchasing your offering and overcome these.
 
4) Learn to work ON your business as well as IN it.  You spend time working IN your business, but how often do you spend quality time working ON your business?  Learn how to delegate and/or outsource tasks so you have more time to work on the things that really count.  
 
5) Monitor your competition both directly and indirectly.  You never know what new ideas or information you might glean and it is important to be familiar with their offerings so you know how you compare in the marketplace.
 
6) If you have a threat or weakness in your business, how do you manage it?  Consider taking a course or seeking professional advice.  
 
7) Consider getting a website or a refresh your current website.  Could your business benefit from having a professional online presence and generate income for you?  

8) Social Media platforms - could your business benefit from having a presence on Facebook, Twitter, or You Tube?  With so many people now using these types of platforms, they could be worth tapping into.
 
9) Consider joint ventures with complementary businesses 

10) Finally, don't forget to celebrate your successes.  Step back and take the time to realise what you have already achieved.  After all, what's the point in doing all that hard work if you can't enjoy it and be rewarded from time to time!  
 

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