2024 is right around the corner, and that means it could be time for business owners to “retool” their business strategies. On the latest episode of The Small Business Show, we’re welcoming America’s number one small business expert, CEO of Quintessence Group, and Best-selling Author, Melinda Emerson.
Emerson, also referred to as “SmallBizLady,” is experienced in bringing in and retaining small business clients. She specializes in helping Fortune 500 clients and SMBs effectively utilize digital marketing, guides them through crucial stages of development, and offers advice on advertising to small businesses. With less than 60 days away from the new year, there are a few considerations business owners should evaluate before retooling their organization.
Key Takeaway:
1. First and foremost, business owners must assess their sales figures. Things like what worked, what didn’t, and which product or service ended up being the most profitable. Next, decide which marketing initiatives will help the company grow and how to increase sales. To do that, owners can create a ‘targeted 65 list’ that outlines the 65 companies their business plans to target for the upcoming year, along with details on how to get there.
2. Then, consider whether it’s also time to reorganize your team. “Now, this is an ideal opportunity to review your job description,” believes Emerson. Next, look at your subscriptions, such as what you’re paying for that you’re not using. Lastly, arrange a meeting with your tax accountant, certified public accountant, or CPA before the year ends. You’ll be able to discuss future employment plans, tax planning, and your next sale strategies.
3. It’s crucial to meet with your sales team every day for at least 10 to 15 minutes to ensure they are well-equipped with the necessary tools to succeed. However, it’s up to the owner to determine whether they have the adequate skills required to get their team where it needs to be. “If not, hire someone to help you,” Emerson says.
4. Emerson outlines the coaching techniques she provides to entrepreneurs that help her clients expand. Coaching strategies include her books, an hour-long one-on-one laser focus phone call, a VIP coaching day where you fly in and spend six hours together analyzing your business, or a three/six-month coaching program.
5. For more information, you can reach out to Emerson via smallbizlady@gmail.com
“This is the fourth quarter, you should already be planning for the first quarter of next year.” – Melinda Emerson
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