Now’s the Time for A Business Tune-Up

Posted by walterwise


by Walter Wise
This is an excellent time to do a check up on your business to get ready for the new year, especially if you are in the Government market. Here are some checks and updates you should perform now.

Update your website: Make sure the information is current and uses business terms, not the words your industry uses.  Ensure your contact information is easily found and is correct.

Review your processes and systems:  Analyze your metrics and your numbers. Find out what worked in 2014 and what didn’t work.  Fix those that didn’t, improve those that did. Update the technology to run those systems if needed.

Tune up that Capability Statement. Review and update.  Make sure you have the correct contact information, key discriminators and most recent past performance or client list. Update your elevator pitch and business card.

Confirm your NAICS Codes: Go over your Core Capabilities and NAICS (North American Industry Classification System) codes and confirm every one of them. Do you have too many codes? Too broad of a variety of industries may make your listing suspect.

Registrations: Make sure all of your registrations and certifications are accurate and updated.  This is especially true for your federal registrations such as SAM.GOV and the SBA’s Small Business Dynamic Search database.

Review your relationships:  Touch base with customers and vendors.  Make sure they know you appreciate them.

Employee performance reviews:  Make sure you evaluate how well your staff performed last year.  You may need to replace the poor performers or provide the resources to upgrade their skills.  This is a good time for company-wide training, especially sales and marketing.

Check out your competition:  Make sure you know what they are up to and how you are different, and it isn’t because you provide good service, or take care of your clients or that you have been in business since 1431 B.C.

Training & networkingHave you budgeted time and resources to participate conferences, networking and training opportunities? Keep up to date with your industry and with government contracting rules, regulations, programs, legislation, technology and legal decisions.

Client list:  Update your client list, contract summaries and Past Performance files.  Make sure you only have the most current information (nothing over three years old).

And finally: Update your annual reports and get ready for tax time with your accountant.