Optimize The Rest Of 2017 By Setting Second Half Of The Year Goals

Annual goals are the foundation of any successful company. Setting objectives allows you to approach your business with a focused plan so that you can achieve specific milestones. Although you may have set goals for the year back in January, now is a great time to revisit and recalibrate your business benchmarks for a smooth end-of-year landing. The second half of 2017 is a great time to focus on streamlining processes, upgrading equipment and focusing on desired customer base.

Streamline Business Processes

There are several ways to streamline business processes. The first is to document current processes, and look at business cost statistics. When processes are documented, it is easier to locate areas to improve or change to increase revenue. Set procedures increase an employee's production, and reduce the opportunities for errors. This leads to consistency in your products or services, and is the foundation for increasing the customer base.

Upgrade Equipment

One of the major expenses of doing business is equipment. Older models of printers, computers and software can increase costs of doing business. In this competitive world, it pays to upgrade to more efficient technology. The savings from adopting energy efficient equipment can also adds up over time, helping you meet your financial goals for the year.

Share Your Values

Sharing your values is a great way to brand your company and connect with customers. People are more aware than ever of what values a company represents when making decisions about how to spend their money. For example, if you're upgrading to energy efficient office equipment, you can make it part of your messaging that your company values leaving a smaller footprint on the environment. Making your marketing more personal is a great way to reach a wider customer base, and a goal that could help define your company's identity in the second half of 2017.

Defining Desired Customer Base

Defining your desired customer base opens up new business opportunities. Identifying your core demographic will give you an edge in strengthening your bond with existing customers, and seeking out new ones who need your product or service the most. Having a clear idea of who you're serving will breathe new life into your company's mission and is a great goal to strive for before the fiscal year is over.

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visit CBS Small Business Pulse Chicago.