By Liz Hatcher, Women to Women Network

I don’t know about you, but I have never been much for spring cleaning. I find it’s better to stay on top of things rather than let stuff pile up. Don’t get me wrong, a purge and cleaning out every now and then is a good thing and sometimes necessary. Especially as stuff does tend to accumulate.

This goes for our businesses too. It’s very easy to collect an assortment of apps, tools, subscriptions, even memberships that may have served you well at one time or another, but now sit idle. The systems, processes, and tools you need to run your business evolve as your business grows. What worked in the early stages may no longer meet the day-to-day operational demands. The resources you need–employees, subcontractors, partners, coaches–also evolve. 

When was the last time you took inventory of your business? If it’s been a while, well maybe a little spring tune-up, if not a full cleaning, is in order. Here are five key areas to review and some questions to get you started:

1. Systems & Processes – What systems and processes do you have in place for the repetitive (daily, monthly, quarterly, annual) tasks you do? Think about your administrative tasks, project management, calendars, social media posts, etc. Can any of these be automated? If you already have automation in place, does the platform or app you are using still meet your business needs? 

2. Revenue Generating Tasks – How much time are you spending on tasks that are not generating revenue? These are the administrative tasks like your bookkeeping, billing, and payables as well as the tasks related to marketing. Do you still have enough time for prospecting and new client acquisition, or has that time been squeezed? What are the tasks you always put off because they aren’t what you enjoy doing? What can you outsource? 

   If you are not maximizing the time spent on revenue-generating activities, your business will lose steam. At some point in your business evolution, it is going to make a lot more sense to hire a team–employees or subcontractors–so you can stay in your own zone of genius. This is where you wanted to spend your time in the first place!

3. Professional Organizations, Memberships & Subscriptions – What professional organizations do you belong to? Are you fully utilizing your member benefits? Do the events, networking opportunities, and other resources within the organization align with who you want to connect with and where you want to go? What about services you subscribe to? Are those meeting your needs?

   If you find you aren’t fully taking advantage of the opportunities, benefits, or features of a group or subscription, answering these questions will help you evaluate if you should step in or step away. 

4. Products & Services – Are you still offering the same products or services as when you began your business? Do they still align with the work you want to do and the clients you want to serve? Are there new revenue streams you could add? 

   These can be heavy questions and are really tied to the bigger picture of your overall business strategy. If your business is taking a new direction, your strategy for growth may need to change, as well as your messaging and marketing. This obviously goes beyond a simple “spring cleaning” but spending time on these aspects of your business is vital as your business evolves.

5. Pricing – When was the last time you raised your rates? Are your current rates in line with your revenue goals and the number of hours you want to work? How do your rates stack up against the rest of your industry?

   If it’s time to raise your rates and you are worried about how your clients will respond–will they stay and pay the new rate, will you be able to attract new clients–consider hiring a sales coach. Price conversations should be about the value you are delivering not the fee you are charging. If these conversations are difficult for you, a coach can help you develop better selling skills.

As you are taking stock of your current business state, how you are running things, and your business goals, you may find that some of the questions are better answered with the help of a business coach. I’ve personally worked with different coaches at different stages of my own business and each has been invaluable in helping me grow my business, become more profitable, and avoid burn-out. 

Access to coaching is a core tenet of Women to Women Network and there are a number of coaches, consultants, and professionals within the organization–each with their own area of expertise. I encourage you to get to know the other women in the group, and the members of any organization you belong to. You may find just the resources you need or even your next best referral partner.

Liz Hatcher
Women to Women Network
liz@wtownetwork.com
503-803-6428