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The new financial year has started making it an exciting time to set boundaries for success. You must go into this new financial year with a positive mindset. A mindset that is so strong you will not get distracted, especially by things that are not within your control, including: rising inflation, interest rate increases, and the talk of a possible recession. Your mental toughness must be fully supported by your leaders and staff, who will assist you in making sure that you are in control of your company’s destiny.

Over the past two years, we have all learned how to be resilient, and agile. We have had to work out a way to survive and thrive for better times ahead. For many of us, we have had to re-map and re-calculate our strategy to continue to operate. Some businesses have had huge success, while others have struggled. Either way, there are challenges. What is important is that this new financial year has started. You must focus on keeping and growing your existing clientele while still developing new business opportunities to take your business to the next level.

It is important to take on the challenges head-on this financial year. Don’t focus on what’s not in your control. Don’t fear staff shortages or staff leaving; just keep going and raising the bar. Improve on your customer focus with a burning desire to succeed. You need to build your company as a result-driven business where staff want to stay,  work and contribute. As a result, new staff opportunities will open up as people will want to come and work for you. To get the best people, you need to be the best at what you do, thanks to good strategy and focus. Think about what does success looks like for you, your company, and your team? Staff culture, drive, and new opportunities are everything when it comes to ensuring staff want to stay with you.  Remember, people want to join a successful company.

As part of your FY23 strategy, and to keep your mindset right in staying positive, make sure you tick the boxes on the following:

  • Financial Sustainability – Your company has put the right planning in place so you can continue running your business successfully while managing your cashflow
  • Products and Services – The products and services your company offers still has a demand in the market with businesses and/or consumers wanting to buy on a continuous basis
  • People Capability – You have the right staff on board in your company who are passionate about your industry and your company brand, as well as the products and services you offer
  • Marketing Initiatives – Your company has a marketing plan that drives brand awareness, as well as a call to action that ensures lead opportunities continue to roll in on a regular basis
  • Business Systems and Processes – Your company has great systems and processes in place, ensuring everything is streamlined so your staff feel like they are doing meaningful work and achieving good outcomes
  • ICT – Information, Communication and Technology – Your company has up-to-date technology for everyone to use that improves the overall effectiveness and efficiencies in order to support great internal and external outcomes
  • Client Strategy – Your company has Best Practice Sales initiatives in regards to how you develop new business opportunities and keep and grow your existing clientele
  • Customer Satisfaction – Your company is 100% focused on great customer outcomes, continuing to get repeat business, referrals, and great google reviews

When you have the above working to best practice standards, then you will succeed. If you, your leaders, or staff lose focus on what drives your business then complacency happens. You need to keep focused on continuous improvement and empower your team to deliver with reward and recognition. You will find you quickly grow staff talent when you frequently and highly reward those who go above and beyond to exceed targets and knock out competition.

As per this article, don’t live in fear, and don’t look in the review mirror. Look forward,  because the windscreen is bigger.  Success breeds success, and people want to deal with successful people. Build a team that has grit and vibe because your team becomes infectious. There is a lot happening around the world at the moment, and when you watch the news or look at what the media is publishing, it is all reactive and negative. To have a great successful FY23, you need to feed your mind with positivity and surround yourself with successful people.

At KBA, our team is passionate and motivated to help and support any business that needs support, regardless of the situation.  Our clients know that we are here for them, and they know we never give up and keep trying to help them.  Most of all, they know if things don’t go to plan that we are the first to get involved to help and we also celebrate the wins with them as well.  Why, because our purpose is to take our client on a journey through all aspects of employee engagement and performance.  Through this process, this is how we take their business from good to great!

 

Please see useful Free Information which you can download below:

 

If you would like help or want to know more about our services, please contact us at Key Business Advisors on 1300 4 ADVICE

About The Author

Colin Wilson

Director and founder, Colin Wilson drives Key Business Advisors with determination, passion, and motivation.

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