Here we are, 10 days out from the ball drop. Are you sticking to your resolutions, or back to the fridge searching for late night snacks? Chances are it’s still early enough that you’re in the New Year spirit and making changes to your life. Why not take that energy and apply it to your business, too? Here are four ways to make sure your company is in the best financial shape possible for 2013 and beyond:
1. Cherish the Memories...or Not
Take a look back on 2013 and see which of your plans worked and which left a bad taste in your mouth. After all, you can’t measure results without anything to compare them to, just like you can’t do business in a vacuum (selling vacuums, on the other hand, is fine.) Look at what worked in 2012 and what didn’t, and decide what should be done.
2. Lose Some Weight
What better time to lose unwanted baggage than the new year? Whether it’s a bad employee, a client sucking away a disproportionate amount of your time, or a supplier ripping you off- now is the time to ditch them. Better to have loved and lost than be stuck with a bad deal any longer!
3. Revamp Your Style
When’s the last time you really looked at your company website? I’m talking every single page of your site. If you run your own site in-house, you have a few options here as far as editing goes: hire someone temporarily to check it out for you, or print out all the pages and have the best writer on staff freshen up the content—it could mean big returns for your company.
4. Keep Your Pockets Full
In some if not most industries, good cash flow is vital. Businesses tend to be seasonal, and ponying up for expenses in slow times can be rough. Keep a budget or a master plan, and stick to it as best you can.
Sometimes cash gets tied up in credit sales- the accounts receivable are on your balance sheet, but you can’t access the money until it is paid by your customers. If the payment terms are long and expenses come due, sometimes the best option is to sell your accounts receivables to a factoring company and get the cash advanced. Keeping your cash flowing and following the simple rules above are a few ways to make 2013 your best business year ever.
If you want more information on factoring, contact us at 1-855-FACTOR-1 or contact our website at www.factorfinders.com.