How to Make Your Business Grow and Prosper in 2021
Nearly 60% of the businesses that closed at the start of the pandemic won’t reopen their doors according to a recent study by Yelp. Being a business owner in modern times is extremely challenging. Growth and expansion are the main goals most entrepreneurs have as we start the New Year. If this is your goal for 2021, you will need to develop a plan of attack.
Being organized and calculated about the movements you make in the coming months can help to ensure your success in 2021. Here are some things you can do to make your small business grow and prosper in the New Year.
Get a Better Handle on Your Finances
In most cases, financial mismanagement and small business failure go hand in hand. Becoming detached from the financial side of your business can have disastrous consequences. In 2021, you need to commit to improving your small business finances. The key to avoiding financial mistakes is hiring an experienced and competent accountant.
With the help of an accountant, you can avoid tax penalties, get a grip on payroll spending and manage cash flow with ease. If you are looking for an accountant to help with your small business finances, it’s time to reach out to the team at Jack Trent and Co. When using our accounting firm, you will receive perks like:
- A clean general ledger
- Monthly income statements
- Accurate balance sheets
- Access to unlimited consultations
Our mission is to consistently go the extra mile for our clients. Contact us today to find out more about our services.
Personalized Customer Service is a Must
Did you realize that attracting new customers cost nearly five times more than keeping existing customers loyal? Before expanding into new markets, you need to make sure your existing customers are getting the top-notch service they deserve. Following up with customers via email is a great way to start a conversation. When sending out these emails, you need to think about including a coupon code.
These codes show a customer you are adamant about saving them money and retaining their business. When used correctly, online coupon codes can help you grow your bottom line. Working with marketing professionals is the best way to fully optimize your email marketing campaigns in the New Year. If you are providing existing customers with great service, they will recommend your products/services to their friends and family members.
Modern Consumers Want Contactless Options
In the age of COVID-19, consumers are more conscious than ever about germs and harmful bacteria. If you offer products/services to the general public, you need to incorporate contactless options into your existing business model. Making your customers feel safe can help you keep them loyal and engaged. Most people want to use companies that make an effort to protect them.
Don’t Be Afraid of Change
Are you trying to grow financially in the New Year? If so, contact Jack Trent and Co for information about how we can help you accomplish your financial goals.