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12 Dec 2019

Three things to plan for your business in 2020

With an exciting new year and a dynamic new decade just days away, it’s time for small business owners to get ready for the future.

 

So, what does your crystal ball tell you?

 

The outlook

The business services consultants, PwC, predict that the UK economy will slow down next year to just 1%. They assume that somehow there will be an orderly exit from the EU. It’s reported that consumers are still spending, which is good news for the economy, helped by earnings growth this year.

 

So, will you be approaching the coming year with optimism?

 

Here are the three things you plan now to make sure your small business starts 2020 with a bang!

 

 

 

One: Budgeting

To set a realistic budget for 2020 you need to have a clear picture of how your business performed this year.

 

If you’re halfway through your accounting year, don’t wait to until your year- end to shine a light on your results. If you have a beastly backlog of information to record, there’s no-one better than a Genie to get the job done. If you need processes and plans to make sure you keep on track next year, then our Genies have a potion for perfection.

 

Once you have all the information firmly at your fingertips you can take a look in to the future. Imagine different events in the coming year and see what they could mean for your results. Take a look back and see if you can spontaneously spot trends that will help you to prepare or unnecessary expenses you can expel to improve your cashflow.

 

Importantly, keep a little magic money tucked away, in case of that rainy day.

 

Two: Streamlining

If you think automation is just for big corporations, you might be missing some marvellously magical solutions to your workload misery.

 

Enter the wonderful world of workflows. Our clever Genies can develop systems to help your business run like clockwork.

 

So why not free you up your time to focus on some serious hocus pocus, like strategy, planning and training?

 

If you hold stocks of products think about treating yourself to some inventory management software to keep track and avoid waste. Take a look at customer relationship management software to make your marketing more marvellous. Or how about a chatbot to deal with your most common enquiries? We have our very own Genie bot on our website, and we love her.

 

Three: Marketing

If elves and sprites might cause mischief next year, your marketing plan will be your lucky talisman. No one will need to ask the mirror on wall who is the fairest of them all – they’ll know it’s you!

 

Make sure you put some nuggets of gold aside to create some magical marketing spells for success. Email marketing is still one of the most cost-effective methods, returning around £38 for every £1 you spend. With well-planed digital campaigns, you don’t have to have a beast of a budget to generate great results.

 

Put a monthly plan and some measurements in place to make sure your customers are charmed, and your leads feel loved. One of our talented Genies will be happy to help with all the details and follow-up calls.

 

If you’re ready to plan for 2020, just give us a call to make the magic happen.

 

Jacqui Frost

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Jacqui Frost

Jacqui Frost

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