How to optimise your business: six areas to focus on

Anna Stubbs • December 18, 2024

We’re trading in uncertain times at present. But there’s still a pressing need to refine your business model, add value and look at the opportunities for growth.

 

In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of.

Six ways to optimise your business

 

Your game plan might have been to sell the business, achieve a great deal and retire on the profits. But in the current market, it’s possible you’ve had to press pause on this exit strategy.

 

However, instead of letting the business just tick over, why not get proactive about improving and enhancing your business model, so it’s a more profitable and viable business?

 

Here are six key areas you should be looking at:

 

Go digital and automate the business

 

Now’s the ideal time to embrace digital technologies. With the latest cloud tech, AI and automation solutions you can streamline your operations, improve your overall customer experience and boost sales. You can also explore e-commerce solutions, social media marketing and digital marketing.

 

Get proactive with your finances

 

Strong financial management sets the foundations for making the business profitable. Switching to the latest cloud accounting software helps you get a handle on your cashflow, a better overview of costs and a more informed view of your overall financial position. Many accounting platforms will also offer integrations with other helpful business tools, such as inventory, invoicing and point-of-sale (POS) tools.

 

Build on those customer relationships

 

Exceptional customer experience helps to build loyalty and drive repeat business. This means getting granular with your customers’ needs, providing excellent customer service and listening to (and acting on ) your customer feedback. It’s the best way to improve your customer service and brand.

 

Diversify into new areas

 

It’s easy to get stuck in a rut when it comes to your product range and industry focus. One way to shake things up is to diversify and explore new product ideas, new customer audiences and new niches. Diversification can reveal a whole new customer demographic, not to mention additional revenue streams.

 

Nurture your team and employee experience

 

Engaged employees are the foundation of a great business. Invest in training and development to improve your team’s skills and motivation and do everything you can to build a positive work culture. When hiring, look to create a diverse and inclusive team of people, so you have a real melting pot of talent, ideas, skills and experience in the business.

 

Look for strategic partnerships

 

Navigating the market is far more successful when you explore the benefits of business partnerships. Connecting with other businesses can extend your market reach, reduce costs and allow you to share resources. You also open up your brand to a whole new customer audience, boosting sales and growth.

 

Talk to us about optimising your business model.

 

There’s no single strategy for turning around the success of your business. But looking at new ideas, markets, products and business tools can certainly add considerable value.

 

If you’re looking to add some pizazz to your business model and operational effectiveness, drop us a line. Our team will be happy to review your current business and identify the opportunities for a great start to 2025.

The basics of business finance: income and expenditure

By Anna Stubbs • November 15, 2025
Understanding the financial management of your small business is a vital skill as a business owner. And it starts with an awareness of two fundamental concepts: income and expenditure. Grasping the difference between what comes in, and what goes out, is crucial for your financial health, making informed business decisions and the overall survival of the company. Let's break down the basics.

Don't end up paying tax on uncollected debtors!

By Anna Stubbs • November 15, 2025
Did you know you still have to pay tax on uncollected debtors? This is because you pay tax on your sales figures irrespective of whether you have collected the cash.  To avoid paying tax on uncollected debt, here are some quick and easy-to-implement debt collection strategies to ensure your hard-earned money is sitting in your bank account (and not in theirs): Agree on your payment terms at the time of sale Get the Terms of Trade signed off in writing before you start the job Include a guarantee in the payment terms Ask for a deposit Invoice as quickly as you can Change your payment terms to 7 days or ‘on delivery’ Send statements with only two columns – current and OVERDUE Schedule overdue reminders and follow up the day after the due date Put someone other than the business owner in charge of collection – owners are usually too soft! Document what your customers have promised in terms of payment and hold them to it Use a debt collector sooner rather than later – the longer you leave it, the harder the debt will be to collect Stop credit for customers who are late on payment Take action! Reflect on how many of these ideas you've integrated into your business, and check how many you're actively applying. Don’t let procrastination hold you back — address your debtors today! “It’s the squeaky wheel that gets the oil” – Anon

Understanding if your business is profitable

By Anna Stubbs • November 15, 2025
Did your business run at a profit last month? Knowing if you’re currently profitable is a vital part of your financial management – but not everyone knows how to check this metric. A recent Xero survey from October 2025 revealed that nearly two in five small business owners (38%) are unaware whether their business was profitable last month. That’s a startling (and unnecessary) failing when today’s cloud accounting makes it so easy to judge your profitability. Let’s look at what we mean by ‘profitable’ and how to track and measure your profitability.