Are you pre­pared to make the most of busi­ness op­por­tu­ni­ties?

Busi­ness con­fi­dence ticked up in April. A net six per cent of busi­nesses are op­ti­mistic about prospects over the com­ing year, ac­cord­ing to ANZ Busi­ness Out­look. The level is hardly any­thing to crow about, writes PAUL DAVIES, but a lift is a lift; we’ll ta

Travel Digest - - SMALL BUSINESS -

Gains were ev­i­dent in re­tail, con­struc­tion and ser­vices sen­ti­ment. Busi­ness con­fi­dence in agri­cul­ture im­proved, but re­mains weak. Now is the time of year to set your plans. This is the year to lift your busi­ness per­for­mance and work on your busi­ness. I am com­plet­ing a busi­ness coach­ing project with a client and the op­por­tu­ni­ties that have pre­sented them­selves are ex­cit­ing, prof­itable and pos­si­ble. Could this work for you?

HOW TO GO ABOUT IM­PROV­ING YOUR BUSI­NESS?

1. An­a­lyse your fi­nances • Do a full fi­nan­cial anal­y­sis to es­tab­lish your cur­rent sit­u­a­tion. • Bench­mark your busi­ness com­pared with the top achiev­ers. • Use our ex­ten­sive travel and tourism bench­mark­ing fig­ures. • Iden­tify your strengths, weak­nesses and op­por­tu­ni­ties and threats. 2. Set your mar­ket­ing, fi­nan­cial and busi­ness plans. • Plan your work • Work your plan • Re­view progress • Re­vise your plans 3. Your vi­sion • Cre­ate a vi­sion state­ment for your busi­ness, based on what your busi­ness is about and how it will achieve its ob­jec­tives. • Cre­ate your vi­sion state­ment with your team and your cus­tomers, en­sur­ing they fully un­der­stand and buy into it. • In­cor­po­rate your vi­sion state­ment into all in­ter­nal and ex­ter­nal com­mu­ni­ca­tions. 4. Your ad­van­tage • De­fine what it is that your busi­ness does dif­fer­ently from all your com­peti­tors. • What makes it unique? Is there a de­mand for this? • Ask your cus­tomers – cus­tomer sur­vey. • Iden­tify who / what / where your tar­get mar­ket is. • In­cor­po­rate your unique sell­ing propo­si­tion (USP) into all in­ter­nal and ex­ter­nal com­mu­ni­ca­tions. 5. Your im­age • Does your im­age re­flect your busi­ness ob­jec­tives? • How does your tar­get mar­ket per­ceive your busi­ness? • Cre­ate the im­age you want your cus­tomers to con­sis­tently see and ex­pe­ri­ence when they visit your of­fice, or web site, or read your ad­ver­tis­ing, your brochure or your sta­tionery. 6. Your team • Im­ple­ment a fully in­clu­sive pric­ing / ser­vice pol­icy – Our price / our ser­vice. • Cre­ate sys­tems and pro­ce­dures for ev­ery role, with check­lists. • Im­ple­ment per­for­mance tar­gets, reg­u­lar ap­praisals and in­cen­tive pro­grammes – in­crease pro­duc­tiv­ity through ac­count­abil­ity. • Es­tab­lish a regime of weekly sales meet­ings, in­cor­po­rat­ing prod­uct knowl­edge up­dates and per­for­mance re­views. • Com­plete train­ing on USP, ser­vice stan­dards, pric­ing pol­icy and all pro­ce­dures. 7. Your com­mu­ni­ca­tion • Im­ple­ment a sales and mar­ket­ing sys­tem. • De­velop a sales brochure for your busi­ness, con­sis­tent with your im­age, to help build cred­i­bil­ity and pro­mote your USP. • Con­sis­tent ad­ver­tis­ing must al­ways fea­ture prod­uct and your USP.

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