Regularly reviewing your business is the best way to keep everything on track. It lets you identify what’s working – and what isn’t – and should include the following elements.
Every 12 months or so, arrange a free business review with a business banker. We’ll work with you to:
- Get to know you and your business
- Understand what’s important to you and why
- Review your current banking options and make recommendations to ensure you’re getting the best banking solutions for your needs
- Think about what your customers have been telling you, either in words or by their behaviour
- What can you do to get more of them, keep them for longer or make them advocates of your business?
- Consider recognising and rewarding your most profitable customers to show how much you value them
- Consider whether you should be investing more – or less
- Make sure you are targeting the right people and using the best channels for your business
- Do you need to start building stronger networks?
- Look at whether you should be investing in newer equipment or technology
- Consider whether it’s time to switch from leasing to buying
- Talk to a business banker about different ways to secure assets
- Conduct performance reviews
- Let them know how valuable they are, what they are doing well and where you can help them improve
- Arrange for training if necessary
- Consider employing people to help if you are a sole trader
Call 13 1998 to arrange a free business review with a business banker.
As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).