Whether you’re a seasoned entrepreneur or just starting out, it’s always a great idea to breathe new life into your business. In this fast-paced world, staying ahead of the game is crucial for success, and a business refresh might be just what you’re needing.  

In this blog post, I’ll highlight some of my key ideas to focus on to lay the groundwork for success. So, let’s get started and look at the important areas your business should prioritise. 


how to refresh your business


boost your financial management  

Get clear on your financial position for today and the future, such as keeping tabs on your cashflow and monitoring your financial performance. Do not neglect your numbers. The more attention you give the numbers the better off your business will be.  


accelerate your operational efficiency  

It is time to locate the weak spots in your company’s processes and think of ways to fix them. Start by streamlining and automating mundane activities by making use of available technology. Not only will this help you achieve more productivity, but it can also cut expenses, maximise output and leverage the use of existing assets.  

This could look like creating integrations between software, such as Xero and QBO to eliminate manual data entry, increase accuracy and save time. If you’d like a hand with implementing more efficient technology into your business, our digital team is on standby and ready to help. 


sharpen your planning and budgeting 

It’s never too late to gain an understanding of basic budgeting and planning principles. Being able to create a budget for the upcoming year requires a thorough review of past income, expenses, cashflow and profitability. The power of budgeting helps you allocate resources and make the financial decisions you need to make. 


develop your employees 

Foster an environment where everyone is always improving their skills. Provide your team with opportunity for growth and development and make sure everyone knows what is expected of them and how their performance will be measured.

Lunch and learn sessions are extremely popular where employees can share their knowledge with their co-workers while creating a continuous learning environment [plus its’ tax deductable].


expand your network  

While it may sound simple enough, expanding your network takes time and consistent effort. Start by attending industry events like trade shows and conferences that allow you to connect with potential partners and leverage collective knowledge.

Sharing content and guest blogging should not be undervalued. Think about contributing to industry magazines or websites. This raises your profile and makes you more accessible to potential new clients and connections. 


minimise your business risk  

It means doing what you can to protect your business from harm and increasing the chances of long-term success in your business.

Conducting a thorough risk assessment is the first step in preventing irreparable damage to your company’s reputation and the interruption of daily operations in the event of a catastrophic event like a cyberattack or natural disaster. 


revise your business plan  

It is not uncommon for people to create a business plan and then neglect to revisit it. Time for you to blow the dust off and update it. This is not a set and forget document.

A good business plan allows you to evaluate your progress, adapt to changes, set new goals, and shift priorities in alignment with market conditions and your overall business goals. 


you’re all set

So there you have it, 7 tips for refreshing your business!

Remember to get clear on your financial position, automate and streamline tasks, set your budget, invest in your team, complete that risk assessment and revise your business plan.  


we’re here to help!

If you’d like a hand refreshing your business, get in touch with our advisory team who can help you make that fresh start and set the stage for a successful year ahead. 


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