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Practical Business Advice Newsletter December-12  
Here is the December Practical Business Advice Newsletter. Hopefully you'll find the information informative and useful - my annual tips on ending the year right.

Please feel free to pass it on to colleagues and friends.

Tips on Ending the Year Effectively

The end of the year is a great time to take pause, review the year and create plans and changes to start off the New Year. Here are some of the things that you should consider in your review:

Do a Financial Review

Are you where you had wanted to be financially for the year? Check your income statement and expense reports. Review your sales reports to determine the most profitable areas of the business and areas where sales were under plan. Create a plan to increase business in the more profitable areas. Either plan to eliminate less profitable products, channels or markets or create plans to increase their profitability.

Prepare a Budget

Compare your projected budget against actual expenses for the year. Prepare a budget for the new year and manage to it. Factor in expenses for any computer and software updates and purchases of new equipment. Be sure to allow for any changes to your marketing strategy. Include some contingency planning - prepare a list of potential areas to cut if profits or cash flow start running below plan and a list of potential opportunities to add or increase if cash flow runs higher.

Plan to Succeed

We all know that businesses that fail to plan, plan to fail. So create that updated business plan you’ve been thinking about. Or if your financial review shows variances, fine tune your existing business plan for the coming year. Set aside some quality time in January to lay out the framework for future sales.

Review your Marketing Plan

Evaluate your marketing mix for the past year and determine how effective it was. Eliminate channels that have not been producing results. Freshen up your marketing message and strategy. Think about what makes your compa­ny special (versus your competitors). Focus your messages on the unique features and benefits of your products and services.

Update your Databases

Review your contact databases and update information. Contact inactive customers and touch base with your existing customers. Ask for testimonials from some of your best customers. What others say about you can carry much more weight than your own words. Add them to your website – they are a powerful and economical way to generate trust and credibility.

Review your Staff

Identify staff accomplishments that should be acknowledged and rewarded. Also, identify those whose behaviors or work needs to be addressed and improved. Everyone wants feedback on how they are doing. If you have a difficult time remembering relevant examples, schedule a few minutes each week to update notes (both positive and negative) for performance reviews for each of your staff.

Learn Something New

Resolve to refresh or improve your professional skills in the new year. Plan to take a class or to read books in areas in which you feel you could use more training.

Lastly, make a list of all that you have accomplished this year – both personally and professionally – no matter how big or small it was. We all need to do this periodically so that we can acknowledge and celebrate the abundance of positive things we’ve accomplished. Then give yourself a pat on the back!

All the best in the New Year!

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If you have any particular topics you'd like to hear about in upcoming issues, your feedback would be appreciated.

Best Regards,

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Rose Kasianiuk
Strategic Business Advisor
RK Business Solutions Inc.
Calgary, AB T2T 4S1
403.802.0018
rosekasianiuk@iib.ws

www.rkbsi.com

twitter:  http://twitter.com/rkbsi


Practical professional business advice

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Season's Greetings

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Happy Holidays to you and your family!

I wish you, your family and your business all of the best in 2013.

Rose



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Notable Quotes

"Kindness is an inner desire that makes us want to do good things even if we do not get anything in return. It is the joy of our life to do them. When we do good things from this inner desire, there is kindness in everything we think, say, want and do."

Emmanuel Swedenborg
1688-1772, Scientist, Philosopher and Theologian

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About Us --  Now’s the Time for Business Improvements

Now that things have slowed down a bit and you have some time to breathe – have you thought about making some of those business improvements that have been floating around in your mind?  Now is a good time to make those improvements and make your company more competitive.

Things like:

  • Creating or updating your business plan
  • Creating or updating your marketing plan
  • Documenting work flows and making process improvements 
  • Creating a customer communication plan
  • Conducting a customer survey
  • Succession planning
  • Documenting job descriptions
  • Creating performance standards and reviews

Don’t have the time to do them yourself or the internal resources to delegate them to?

Well, RK Business Solutions Inc. can help – we specialize in being the part-time resource to help businesses with their special projects.  We provide practical professional advice or hands on assistance to get things done. Get the resources you need when you don’t have a full-time need!

  • Sales and marketing 
  • Operations/process improvements
  • People management/general management/project management

Email Today to Set up a No cost, No Obligation Meeting
If you would like to sit down for an hour or so to discuss your “special projects”, future plans, concerns or problems, we will set up a no cost, no obligation, meeting to help you with almost any business issue.


Rose Kasianiuk
Email: Rose Kasianiukrosek@rkbsi.com
Phone: 403.802.0018
Web: RK Business Solutions Inc.www.rkbsi.com
 
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