Credit and Finance, Growth, Management, Hints and tips, Small Business
3 steps to kick start your 2017
Posted on by Cindy Yip
Estimated read time: 3 mins
The New Year is a good time to make a fresh start. To reflect on the past and think about what improvements can be made for the year ahead. This may be in your personal life, exercising once a week or reading a chapter of a book every night. Business wise, is it to release that new product or to improve your customer service levels?
Whatever your goal is, you’ll want to make this year the best it can be. Being in the hustle and bustle of managing a business every day, it’s easy to forget to take a step back and look at the bigger picture. Below are three goals you could make for your business in 2017.
Pay bills on time
New Year, new start. A great time to start on a clean slate. There are many ways you can ensure you pay your bills on time for the year ahead.
- Keep a calendar of when your scheduled bills are due, such as mortgage/rent or utility bills, so you know what to expect and when.
- Set up direct debits and reminders before payment is due to ensure you don’t leave it to chance or miss any payments.
- When setting up new contracts or renewing with utility suppliers and customers, take the time to negotiate terms that both parties are happy with. Keep these realistic so you’ll be able to meet them.
Keep your cash flow in check
Regardless of the time of year, cash flow is key to keeping your business ticking over. Keeping a check on your revenue, debts and expenses, is just a piece of the puzzle. Aligning your payables and receivables plays a pivotal role in keeping your cash flow balanced. Be proactive and go one step further.
See how quickly your customers and suppliers are paying their bills and their recommended credit limit, with Experian Business Credit Checks. This will help you make, not necessarily the right decisions, but the most informed ones you can. We’ll monitor your customers and suppliers and send you email alerts of any financial changes. Make healthy cash flow a reality.
Find new customers
Whether you’re a start-up or an established business, finding and targeting the right customers is crucial for business continuity. Targeting the wrong prospects can be a waste of time and resource that could be better invested elsewhere.
Kick start your marketing campaigns in 2017 by targeting the right audience using the right channels. You understand your customers, so make the most of this knowledge. Use our tool to help you find more customers just like the ones you have, that are likely to buy from you. There’s also nothing wrong with targeting a new audience, if you don’t try you never know. Reaching new customers has never been easier with B2B Prospector.