5 Ways to Prepare Your Business for Growth in 2016

As we are about to begin a new year, now is a good time to press pause, celebrate your achievements during the current year and prepare for strong business in 2016.

Here’s an easy checklist to help your business enter the New Year on solid ground:

1. Take a look at your team and make adjustments as needed.

Success comes down to people. You need to have the best people in the right positions equipped with the necessary resources to excel in business. Get your arms around who is on your team and how they are performing. Assess strengths while also addressing weaknesses.

If you’re preparing for growth, where do you need additional talent? Who do you need to promote or manage out? Where is your team stressed? What skills are lacking and what training might benefit employees?

2. Evaluate and enhance your infrastructure.

Whatever business you are running, your infrastructure sets the stage for everything you do. Review your infrastructure from your phones and cloud solutions to your software and physical space needs.
Are there areas you’re overspending or places you need improvement? Are you storing your data management safely? Is your technology reliable? Scalable? Are you running out of space and need to lease more? Be proactive when it comes to securing a solid infrastructure.

3. Refresh your social-media accounts and strategy.

While social media is increasingly important for business, it’s also easy to let it slip through the cracks. Revisit your social-media strategy and accounts. Are you taking full advantage of what’s available and what makes the most sense for your business?

Be sure your pages are up-to-date in terms of brand, bios and other assets. Delete posts that are no longer relevant. Also, make sure people within the company are sending unified messages that align with your brand.

4. Poll your key advisors.

Connect with your key advisors, including recruiting, legal, accounting and marketing partners. Share your growth plans and projections for next year, so they are positioned to support your goals.

Do you project tripling your revenue? Do you intend to double the size of your team and lay off the underperformers? Give your accountants a chance to address how this will affect your tax year. Launching a new product? Give your marketers a heads up to start thinking creatively.

5. Funding your growth takes planning

Weigh up your business’s spending and needs.  Negotiate with sources you spend a lot with to secure best pricing or look at new sources to increase competition.
Planning alongside your finance and accounting team will help ensure you’re not caught off guard when you need to fund a major ad campaign or grow your team.

“I’m convinced that about half of what separates the successful entrepreneurs 

from the non-successful ones is pure perseverance.” –     Steve Jobs, co-founder of Apple.