Plan for success in 2014

January 24, 2014 5:50 pm

Mansfield 2020 speech

Preparing for a successful business year ahead can be made easier by following a number of simple, but effective, rules.  That’s the advice from Russell Jones, an Ashfield & Mansfield AMbassador, Mansfield 2020 member and partner at Fidler & Pepper Solicitors.  He is urging local businesses to use January as a month to prepare for growth.

Russell said: “Everybody has come back from the Christmas holidays and over-indulged a bit in the good times but now it’s time to give the business a once over.  January is a great time for owners and senior managers to look at things with fresh eyes  to make the rest of the year as successful as possible. Simple steps taken now can pay large dividends in the future and the business will benefit for the rest of the year.  One of the key aspects for January, says Russell, is to keep cashflow coming in and recover any outstanding debts, using a combination of communication and legal tools.

Russell added: “It’s easy to leave tricky problems to one  side, but cashflow is really important for any business of course. Tackle them now while you still have that good feeling and that will help you solve those problems.  I know  companies  don’t run smoothly all of the time and this can create problems. Credit management and cashflow should therefore be business priorities; deal with both quickly and effectively and you will feel much better straight away.”

Checking policies and procedures is also at the top of Russell’s tips list, if not kept up-to-date, they will prove to be of no use should they ever be needed, such as in the case of a tribunal.

“Also, the right policies might be there, but not being used in the right way,”  said Russell. He then added: “Staff and managers should be fully aware of what they should or should not do. Policies shouldn’t be left on shelves or archived in a folder on a computer system somewhere.”

When it comes to growth, or consolidation, Russell advises that planning and taking advice from a number of experts in relevant fields is key to success.  He said: “So many people fail to plan, which means either that they do not grow and take advantage of opportunities, or that they can’t cope with success when it comes their way.  And, if people have taken time to plan, they can then measure their success against their goals. If they haven’t been met, a plan will show what they have missed.”

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