2024 is just around the corner, which means it may be time for business owners to “reimagine” their business strategy. In the latest episode of The Small Business Show, we welcome America's number one small business expert, CEO of Quintessence Group, and best-selling author, Melinda Emerson.
Emerson, also known as the “SmallBizLady,” has experience acquiring and retaining small business clients. She specializes in helping Fortune 500 clients and small businesses effectively leverage digital marketing, guiding them through key development stages and providing advertising advice to small businesses. With less than 60 days until the new year, there are several considerations business owners should evaluate before restructuring their organizations.
Highlights:
1. First of all, business owners need to evaluate their sales figures: what went well, what didn't, which products or services generated the most profit, etc. Next, determine which marketing activities will help the company grow and increase sales. To do this, the owner could create a “Target 65 List” that outlines 65 companies to target in next year's business plan, with details on how to get there.
2. Next, consider whether it's time to restructure your team. “Now is a great time to reassess job descriptions,” Emerson believes.Check your subscriptions, including what you're paying for when you don't use them. Finally, schedule a meeting with your tax accountant, CPA, or CPA before the end of the year. You can discuss future hiring plans, tax strategies, and your next sales strategy.
3. It's important to meet with your sales team for at least 10 to 15 minutes each day to make sure they're fully equipped with the tools they need to be successful. But it's up to the owner to decide if they have enough of the skills needed to take their team to the level they need to be. “If they don't, hire someone to help,” Emerson says.
Four. Emerson outlines the coaching approach she offers entrepreneurs to help their clients grow their businesses. Coaching strategies include her book, one-on-one intensive calls, VIP coaching days where she flies in and spends six hours with you to analyze your business, or three- or six-month coaching programs.
Five. For more information, contact Emerson at smallbizlady@gmail.com.
“We're in the fourth quarter. We should already be planning for the first quarter of next year.” – Melinda Emerson
