Kickstarting the New Year

Starting off a new year can be a good time for small business owners to identify the key areas that may require attention and planning. By focusing on the right priorities, you can kickstart your year for success and growth. Here are three areas to considering reviewing as we begin 2025.

Financial and business plans

It is important to review the previous year's financial performance and set realistic goals and budgets for the upcoming year. It’s also a good time to review your business plan. Your business plan is an essential part of creating business success.

Helpful resources

  • If you don’t have an accountant to help you, Business Victoria has several financial tools and templates available on their website.
  • If you feel it’s time to review your business plan, get the help you need at a free Business Plan Accelerator Workshop.

Marketing strategy

Developing a strong marketing strategy is important to attract and retain customers. With the rise of digital marketing, you may want to consider investing in online advertising, social media marketing, and search engine optimisation (SEO).

Aligning marketing goals with overall business objectives is also key and regularly monitoring your marketing plan shouldn’t be forgotten.

Helpful resources

  • There are a number of free webinars coming up to help support small businesses with their marketing.

Operational efficiency

It’s a good idea to assess your business operations to identify any problems and implement strategies to ensure your operations work smoothly. This may involve streamlining processes, adopting new technologies or software, and investing in employee training and development.

If you’re unsure of where to start, seeking the help of a business mentor can be a good investment for your business.

Helpful resources

  • Free mentoring sessions are available through Council with SBMS. View the upcoming sessions on our Events Calendar.

The year ahead is full of potential and by taking the time to review and prioritise these three key areas, you can kickstart your business for success in the year ahead.

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