Spring Cleaning Projects for Your Small Business
While the weather may be beautiful year-round in Hawaii, technically it is spring and that means its spring-cleaning season. Like homeowners cleaning up the cobwebs, small business owners benefit when they take the time to tackle projects that help them asses how the business is doing and what changes can be made to grow or improve the business.
Spring cleaning projects for your small business
Reviewing and updating the business plan
Taking the time to review the business plan once a year is a good idea. It’s a great way to regain focus on the core business concept and make updates to practices and goals that have evolved in the last 12 months. Reading over the business plan can help an owner see what strategies have and haven’t worked in practice and make changes on the document to match. This is also a chance to assess how well day-to-day operations are helping the business reach its short and long-term goals.
Think about employees and customers
Take some time to talk to employees and customers about their experiences working for and buying from your small business. Are you building loyalty? What are you doing well and what could you do better? Pretend you are a customer and walk through the buying process. Note things you could change to make the process more user friendly.
Review your website and social media profiles
While the website should be getting regular, relevant content updates in the form of blog posts and social media profiles should be active, taking the time to review the core information on each of these platforms each year is a great idea. In the daily hustle of running a business, it can be easy to forget to update new staff members, policies, contact information, etc. An annual check-in is a great time to do handle this task.
Make a list of all the technology your small business is using from software programs to apps that help you run your business. Common areas that technology is used are for accounting, expense tracking, HR, and project management. Are they performing as well as they should? What other options are available that might better serve your business?
A healthy cash flow is essential for any successful small business. Take the time to look at the timing of income and expenses and plan for possible gaps in cash. Some small businesses may want to consider a bridge loan.
According to the Ponemon Institute's 2017 State of Cybersecurity in Small & Medium-Sized Businesses report, 61 percent of small businesses experienced a cyber-attack in 2017. Every small business should have cybersecurity software on all computers and mobile devices to protect employee, business and customer data. Having a backup system is also important. If your small business doesn’t have data protection, take this time to get a system in place. If data protection is enabled, compare what you have to other offerings to make sure it’s still your best option.
Not excited about human resources tasks on top of everything else you need to do? That’s okay; we’ve got you covered through HR outsourcing! When you partner with Makai HR you can get on with the business you are trying to grow while we take care of your employee needs from 401(k) plans to payroll, taxes, health insurance/benefits, and worker’s compensation. You also gain peace of mind that you are in compliance with all of Hawaii’s employer laws (if you’ve ever looked you know that the list is very long). When choosing a PEO to partner with, there are many things to consider including cost, services and technology solutions.
With the cost of doing business in Hawaii at record highs, we know how important it is to keep labor costs in line with revenue. Our plans are priced competitively and include value-added services like time-in/time-out systems. Our three tiers of PEO service plans are tailored to the size of your business and specific needs. We offer a 100% paperless solution which means that your employees can manage their needs through a computer, tablet or phone. We can truly improve your employees work benefits while freeing you up to run your business.
What are you waiting for? Companies who partner with a PEO benefit from 7-9% faster growth, 10-14% lower employee turnover; and they are 50% less likely to go out of business. Contact us today to get started!