The next free 45 min SOAR event takes place via Zoom on Wednesday 17th March 2021 at 9:30 – Book your place NOW!
- Do you have business growth plans for 2021?
- Would you like to make better business decisions?
- Would you like a better work/life balance?
If the answer to any of these questions is ‘Yes!’, your next question to consider should be:
Do I have a strategy in place that will help me achieve these objectives?
Having a clear strategy provides you with a sense of direction and encourages logical thinking. Knowing where you want to be will give you clarity,allowing you to plan and align the business to achieve your strategy, rather than letting it drift along without purpose.
When you’re knee deep in managing a business day-to-day,it’s not always easy to take a step back and evaluate your business growth strategy, make plans for the future, or identify areas of your business that could be more efficient. If you’re fortunate enough to be busy, the chances are there are some days you feel like you’re running just to stand still.
What if we said we could show you a way to get better business results, in three simple steps?
Despite everything the last year has thrown at us, and with small businesses and the self-employed being particularly badly hit, many sectors are experiencing upwards trends. In 2020, there was an increase in new small businesses in the South East of 20%year on year.
The pandemic is forcing many businesses to find different ways of working, but also allowing them to take advantage of unexpected opportunities, so now is a good time to reflect on the next phase of your business growth.
The SOAR (Set Objectives, Achieve Results) methodology encourages you to put the resources in place to slow down your decision-making process, and assess each area of your business.
Step1: Your business plan
This is based on the idea of the balanced scorecard, a way of measuring performance by looking at various internal business functions and their outcomes. This step encourages you to consider the overall vision you have for your business, as well as create key performance indicators (KPIs) for each area.
“Looking at each area in detail will allow you to spot where small improvements can be made,” comments Blue Rocket MD Miguel,” Planning like this allows you to track back through the month to see how and why you were successful. The KPIs don’t need to be set in stone, they can evolve and should be tailored to your business.”
Step 2: The benchmarking report
Ever wondered how you’re performing against your competitors? A benchmarking report looks at your industry and will give you an idea of where you might be falling short,and suggested target areas to work on within your business.
Benchmarking is good way to create a baseline for performance improvement and will help you develop your strategy.
Step 3: The profit improvement worksheet
Again, this is about breaking your business into small sections to allow you to focus on one area at a time. “Saying you want to‘increase sales’ is too big a job. Finding specific areas you can work on improving can be a simple but powerful way to improve business,” says Miguel.
One example could be looking at the process you have in place for cross selling, are your customers aware of all the services or products you offer? Cross selling should help a customer solve a problem, which in turn builds loyalty and improves your profitability.
We use the SOAR technique at Blue Rocket Accounting and know how effective it is. All it takes is a little action from you to get started – join our next free SOAR event to find out how:
Wednesday 17th March 2021 – Arrival: 9:20 – Start 9:30
Our fast-paced 45-minute seminar will share with you three simple research-proven tools that every business leader must use, but very few do.
Covering a range of insights, from a Nobel prize-winning economist, to Amazon best-selling business authors, each of the three tools fits on a single piece of A4 paper. Together, they will help you make better decisions and get better results.
Attending will help you achieve:
- Higher profits
- Better cashflow
- Higher levels of personal income and wealth
Miguel Calabrese will be giving practical hints and tips to help you run your business more effectively. Being more efficient with your money and time will give you the freedom to develop the balance we all need.
So, come along and meet the team over on Zoom - and find out how you and your business can S.O.A.R.