Look both ways before crossing into 2018

Posted by on Jan 10, 2018 in Blog, Newsroom | 0 comments

Look both ways before crossing into 2018

Wait…take the best of both

As we roll quickly into 2018 we encourage each of you to take time to review and look back at 2017 and take the best of that year with you into your plans for 2018.   Have you gathered with your team to discuss what they liked or disliked about their job, your Company strategies and in general their satisfaction about the work environment?   How about your customers?   Now is a great time to drop by and catch those key customers, maybe take them for a coffee break or meet for lunch.   LISTEN to what they have to say and you’ll pick up keys to what keeps them as happy, long term customers.

Review 2017

Now is the time to gather the financial numbers of not only the bottom line success of your Company, but drill down into the details and discover where you are missing out on added revenue.   Here are a few suggestions of items to analyze to learn hidden costs:

  1. Accounts receivables…. how long are customers taking to make payments and do you have some that are not paying?  Plan to reduce those payment times and collect from the deadbeats.
  2. Accounts payables…how many invoices are you processing each month?  Can you reduce the number of invoices by buying smarter?  Ask us about stocking orders based on history to improve time spent shuffling paperwork…remember TIME IS MONEY.
  3. Vehicle and Equipment Maintenance and Expenses…do you know what vehicle costs are and do you have equipment that is constantly breaking down and causing you down time on the job?  Be sure to do maintenance and repairs during the winter months and be ready for the full season.
  4. Marketing expenses…did you focus on any targeted marketing for 2017 and do you know if those campaigns were successful?   Be sure to keep marketing plans as a key factor in your company planning for 2018 and know what works and doesn’t.

Plan for 2018review 2017

Now that you have a full picture of your Company”s successes for 2017 it’s time to build you business plan for 2018.  I like to start with a full WISH LIST strategy that allows me to think outside the box and put onto paper everything that would be great to do in 2018.   It could be a thought of increasing customers by 25%, maybe being able to take a vacation with family and still keep business running, increase revenues by 50%, or improving net profit by 5%, adding 2 new vehicles to the fleet…..anything goes at this point.   Do the same brainstorming event with your employees and see what they come up with as well.   From there you can step back and look at the full picture, build your financial budget and begin to implement the strategies to reach those goals.  In addition to your business plan be sure you have a corresponding marketing plan to give that “ship” direction for 2018.   I heard a comment the other day that range true and will share for you to take into consideration….marketing plans are useless but marketing planning is priceless.  

Take advantage of FREE offers

Are you leveraging your business partners and taking advantage of what they offer to you as FREE support?   Passing up a FREE offer for marketing support is putting you at a disadvantage with your competitors and leaving you without tools that you could be utilizing to gain new customers.   Talk with us at Kenney and discover the ways in which we can build marketing tools with your Company and have new and exciting materials to share with prospective customers this spring.

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