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Focus on Your Business’ Fitness

January 26, 2018

 

 

We know what you’re thinking: “Not another January ‘fitness’ post…?!!” But, we promise this one is different: It’s about YOUR BUSINESS – making sure your business is fit to face the new year. And it’s about keeping your business “healthy” throughout 2018! We’ve pulled together some information and a few tips from business insiders who offer their advice for helping to keep your business proactive and fit in the coming months:

 

1. Keep growing and “pushing the envelope.”

“The way I see things is, if your business isn’t growing, pushing the envelope, thriving, and maximizing profit, then all you’re really doing is suffering a slow death,” says Louis Mosca, executive VP and CEO of American Management Services, Inc., in a recent Forbes.com article. “Believe me, your competition is fighting the fight every day, and they didn’t wake up in the morning and say ‘Gosh, golly, I hope I stay even this year.’ They want to eat your lunch, take your business, absorb your market share, hire your best people, and steal your customers away.”

 

Well, we’d like to think the competition is not that aggressive, but maybe, in reality, they are?!

 

2. Ask yourself a lot of strategic questions.

In an article from InvestmentNews.com, Joni Youngwirth, managing principal of practice management at Commonwealth Financial Network, tells us to dive in and ask ourselves a lot of questions about our business, and that we must think strategically in order to thrive. Youngwirth says, “If you are an ensemble firm, how will you grow?… If you are a solo firm, how will you thrive? Will you define a niche and specialize in it? Or will you generalize your practice and welcome all clients to drive volume? Based on the way you answer the above questions, some goals may begin to emerge. Now ask yourself how you might achieve these goals.”

 

The answers to your questions should guide your next steps, Youngwirth says, suggesting possible actions, such as “pruning clients” or “streamlining services” or “replacing technology” or “using social media” and so on. 

 

3. Be honest and evaluate what’s working – and what’s not.

A post on The National Book Store Blog advises that we should layout plans to achieve our business’ sales goals for the year. But, the post also directs us to “evaluate what worked and what didn’t work” in the previous year before we start planning for the future. “Because planning for the future requires honesty, it helps to review what worked and what didn’t for the business. This gives you a better plan of attack if you want to get better quality leads, level up customer loyalty, or just have a more solid sales pipeline,” the blog post reports.

 

So, what’s your “plan of attack” for 2018? If you’d like to talk about your plans or need some assistance with your business’ marketing, promotional and printing efforts, we’re here for you! Send us an email (info@iopcomm.com) or give us a call at 732-758-6280. Thanks – and Happy 2018!

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