The Next Step

So you have decided its time to grow your business. There are two routes to take, if you are currently turning over less than £61, 000, then it would be beneficial to contact our Business Development Advisor Karl Bone. Karl can review your business needs and work with you to achieve the results you want, or can bring the experience of our Business Link Advisors Mike and Dave into your company.

One of the initial stages will be to identify your aims and objectives and to find any weaknesses that might prevent these being achieved. It’s worth taking a moment to read through the following notes to see if you can identify which areas your looking to improve and what you might be overlooking, these are the basic parts of any business.

Think of it like a long car journey!

Do you have a business plan and do you update it?

“Like any journey you need to know where you start from and where to go, but your are going to need a map to get you there”

Many businesses consider that a business plan is not a valuable document and take the view that they instinctively know exactly where the company is going. The truth is that poor planning is one of the chief things stifling business growth and ultimately business failure. SASDA can provide you with simple electronic versions and application notes helping you put down your thoughts accurately. Its also common for the market to change for example, one moment you cannot find a plumber, the next there is a surplus, you need to be aware of changes to the economy and environment and prepare to react to them, this is part of the planning process.

Do you forecast sales for the year ahead?

“Where are the fuel stations along the route, I don’t want to run out miles from anywhere?”

Its easy to stick your head in the sand and hope that business will keep flowing, that is one of the quickest ways of losing track of the business and ending up short of work and hence short of turnover. You also need to analyse your actual sales to see how it fairs against your forecast, it’s then easy to see problems emerging. SASDA can provide a business forecast spreadsheet completely free of charge.

Have you a cash flow forecast and a monthly Profit and Loss Sheet?

“How much fuel does my car use and have I enough money to get buy it?”

If you don’t know what these are, then you should definitely get in touch with SASDA.

We can provide the copies free of charge and show you how they can work for your business. Your business needs money to survive and just like your household budget you need to know what money is likely to come in and what is going out so you can balance your budget.

Customer records and weekly prospecting?

“I have made sure my car is regularly serviced, has new tires and full tank of fuel, there is no reason I should break down on the way”

Of course you know exactly who your customers are? What they like about your company? Why they use you? How they got your name? Their details are always ready to hand without digging around the business card book?

You definitely keep a list of all those potential customers with notes on when you contacted them, phone numbers, position in the company and personal notes.

You set time aside every week to contact new customers, check on your existing customers, find new markets, look closely at you advertising or market strategy?

You should be, this is you lifeblood, it’s what makes your business tick. SASDA can help you get your sales and marketing strategy on track and get a clear understanding of your market.

Invoicing and records.

“I never let the fuel gauge go into the red. I like to know I have plenty of fuel in the car in case I get lost or stuck in a traffic jam”

One of the most obvious but overlooked parts of any business can be timely invoicing. Its not ’cash in the bank’ until it is actually in the bank. Failure to invoice on time and to ensure prompt payment can happen for a number of reasons, but none of them are really acceptable. A big list of creditors is a sure fire way of stifling business growth so make sure you get the money as soon as you have delivered the service. In fact, try and get some before you deliver the service, make it the number one priority.

These are some of the more common reasons for lack of business growth, they are not the only ones, but if you have read this far you are already getting on the right track to success. It’s important to make full use of professional advice and support, especially when it’s offered completely free..

Pick up the phone and give us a ring now and we can arrange for an informal chat with one of our advisors and put you on the right road to achieve your business dreams.