I often get asked, what do I look at or do with a client when I first start with them to give their business a kick start.

Here’s my list that you can implement yourself to get your business moving.

1.      Why are you doing this?

First, before anything, I align myself with my clients.  Why this business?  What do you want for your life?  What do you want the business to give?  What are your dreams and goals?  Without knowing why, your business will not speed ahead.  (You can lead yourself through this process with Kate in 100 Weeks to Success – click here)

2.      Debtors

If you have outstanding debtors (money owed to you), call it in.  For a little motivation, realise you are being an interest free loan to that debtor!  It’s your money, so call it in.  Large outstanding debtors can be a huge strain on cashflow.  I find this the quickest and easiest way to get money in the door – especially as it is your money.

3.      Payment Terms

If you are finding cashflow issues or you are continually having difficulty with debtors, what are your payment terms.  Maybe you can ask for 50% upfront (start with brand new clients first if this feels difficult).  Change 30 day accounts to 14 day accounts.  Tip:  Put a due date rather than pay in 30 days.  You will have more success of payments on time and it is also easier to call and let them know it is overdue.  Pay in 30 days is a little uncertain because it 30 days since you sent it or since they received it or since service completed.  It can be turned or twisted around whereas an actual date is a defined time.

4.      Profit and Loss Percentages

Work out all of your expenses as a percentage of your income/turnover.  Then look for the 1%’s.  That is how we could reduce expenses by 1%.  Say, how could we reduce our petty cash from 3% to 2% or wages from 22% to 21%.  If you do this to 10 expenses, that’s 10% more profit for you.

5.      Obvious, no brainer, easy fixes

Things that seem common sense to fix.  Make the time and do them.  For example – cleaning, signage, phone answering training, get a bookkeeper, stop wasteful spending, petty cash, stock inventory, stock clearance, etc.  They are probably all floating around in your head, so just write a list and do them.

6.      Roles and Responsibilities

Are the right people in the right roles?  Check out the organisational chart video in business basics (click here).  Don’t underestimate this.  By simply changing people to work in their strengths can impact the business massively – in a good way – plus everyone is happier.

7.      Time

Where are you spending your time or should we say, not maximising your time?  What can you delegate, outsource or ditch?  You will need to create some time to build your business.

8.      Three Things

Ask yourself and your team, ‘What are the 3 things you haven’t done that you know you should have done?’  No matter how big or small, now is the time to do them.

9.      Look to your database

It is six times cheaper to get an existing client to buy again than to get a new client to buy.  When was the last time you made a special offer to your existing or previous clients?  This can bring in cashflow – fast!

10.  Delivery and Distribution

Is your product or service going out right, on time, first time, every time?  If not, what are the major flaws we can fix right now?  Doesn’t have to be totally perfect, can work on that, but what are the obvious problems to get it heaps better fast.

So if you don’t know where to start, this will give you a list to work from.  The most important thing is to get started.

Good luck!