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6 Tips to Move Your Business Forward in 2023: How to Prepare for the Future

6 Tips to Move Your Business Forward in 2023: How to Prepare for the Future

13 Feb 2023

Are you feeling overwhelmed by all the changes that are happening in the world? Don’t worry, you’re not alone. In fact, a lot of business owners are feeling uncertain about the future. However, that doesn’t mean you can’t prepare for growth and prosperity in the coming year. Let’s take a look at 6 tips to help your business move forward in 2023.

#1 – Launch New Products or Services

One of the best ways to ensure continued success is to launch new products or services. This will keep things fresh and exciting for your customers, as well as help you to attract new ones. Make sure that whatever you decide to roll out is high quality and meets the needs of your target market.

Of course, it’s essential to conduct careful market research when it comes to launching new products or services. That way, you can be sure that there is actually a demand for what you’re offering and that it will be profitable. Ask your audience for their feedback  on potential new offerings to get an idea of what they would be most interested in.

#2 – Hire a Coach or Mentor

If you’re feeling lost or uncertain about the future, it might be a good idea to hire a coach or mentor. This type of professional can help guide you through the challenges and changes that are ahead. They’ll offer valuable advice and support, as well as help keep you accountable.

It’s important to find someone who has experience in the  area you’re looking to grow your business. For example, if you need help with marketing, find a coach who specializes in that area.

Coaches and mentors can be expensive, but they’re worth the investment if they help you achieve your goals. In fact, they can actually save you money in wasted time and mistakes.

#3 – Digital Innovation

The world is increasingly becoming digital, so it’s important for your business to keep up. This means embracing new technologies and using them to your advantage.

One way to do this is by creating a strong online presence. This includes having a well-designed website, using social media effectively, and optimizing for search engines. It’s also important to create content that is both informative and engaging.

You can also use digital technologies to improve communication within your company and make it more efficient. For example, you might consider using a cloud-based system for file sharing or video conferencing software for team meetings.

#4 – Consider Government Assistance

If you’re feeling overwhelmed by the cost of expanding or upgrading your business, consider government assistance. There are a number of programs available that can help with things like training, marketing, and even hiring new employees.

The best way to find out if you qualify for any government assistance is to do some research online or speak to an advisor at your local chamber of commerce.

Keep in mind that there may be some waiting periods involved, so it’s important to start the process well in advance.

#5 – Leverage Social Media

Social media is a powerful tool that can be used to reach a large number of people quickly and inexpensively. It’s therefore essential for your business to have a strong social media presence.

This includes creating profiles on all the major platforms, developing interesting and engaging content, and using hashtags strategically. You should also consider running social media ads to reach more people.

Social media can also be used to build relationships with customers and create a loyal following. When done correctly, social media can be an incredibly effective way to grow your business.

#6 – Build a Talented Team

One of the best ways to ensure continued success is to build a talented team. This includes finding people who are passionate about their work and who have the skills necessary to achieve your goals.

It’s important to take the time to find the right employees and then invest in their training. This will help ensure that they’re productive and happy in their roles.

A talented team can help take your business to the next level, so make sure you do everything you can to attract and keep them.

Summary

So there you have it: six tips for moving your business forward in 2023. Implementing these strategies will help ensure that your business is prepared for whatever the future may hold, so take purposeful action today.

Book a free consultation here, to discuss your needs and learn how we can help you.

Why Cloud Software Will Never Replace Accountants

Why Cloud Software Will Never Replace Accountants

9 Feb 2023

It seems like everyday we hear about another industry being threatened by the advancements in technology, but is accounting one of them? Cloud based accounting software certainly has risen in popularity in recent years, but Quickbooks and Xero are no replacement for living, breathing professionals – and here’s why…

Location Freedom

Before we dive into the main reasons why accounting software won’t replace traditional accountants, let’s take a moment to think about one of the ways in which it can enhance and improve their services: location freedom. Whilst you may sometimes want to sit down face-to-face with your accountant, using cloud software means that you need not choose a professional based primarily on location. It also allows far greater flexibility and convenience which is certainly conducive to a healthy working relationship.

A Smaller Tax Bill

Granted, accounting software is able to help maintain accurate records and automate calculations for your tax return, but it won’t help you take advantage of the latest lucrative tax breaks and incentives.

Tax regulations change all the time and staying on top of them can feel like a full-time job in itself. A software program might help you get the numbers right on your return, but it won’t spot new opportunities to save a hefty chunk on your bill. Only a living, breathing accountant can do that!

Advisory

Accounting software takes care of much of the ‘grunt work’: the calculations, the forecasts and so on. What cloud accounting programs can’t do, however, is offer advisory services. A computer simply doesn’t have the business experience, critical thinking ability and financial acumen of a real-life accountant. Software can crunch the numbers, but it can’t offer counsel.

You might think that the covid-19 pandemic had businesses turning increasingly towards AI accountants but in reality, this period of economic hardship has simply underscored the importance of advisory accountants.

Businesses have been forced to navigate significant and sudden changes in law, initiatives, deductions and the shifting economic climate. Accountants have proven invaluable in helping entrepreneurs to navigate these ever-changing waters. The pandemic has brought us into unprecedented economic times and as the world continues to recover, advisory services will become more necessary than ever.

Consequently, these days more and more accountants are focusing on offering advisory services and acting more like business partners than processors. An experienced accountant is able to leverage their experience and acumen to offer valuable advice and insights to their clients. If Quickbooks or Xero could do that, the monthly subscription fee would be significantly higher.

Accessibility

Rather than replacing human accountants, cloud accounting software may even render accounting services more accessible to startups and small businesses. Business owners can use software to handle the grunt work for a smaller fee, leaving more funds to invest in interpreting the numbers. Traditional accountants will not be replaced, but rather their abilities will be enhanced by the advancement of AI.

Summary

Cloud accounting software is certainly helping to enhance and transform the work of traditional accountants, but there is no danger of human professionals being eclipsed by technology. Accounting software is a means to an end – and an effective one at that – but not an end in itself. As accounting software is increasingly able to take care of some of the industry’s more menial tasks, the role of accountants will not be eclipsed but will rather shift more towards an advisory one. Accounting software is certainly helpful for business owners, but there is truly no substitute for the shrewd financial insight of a professional accountant.

Book a free consultation here, to discuss your needs and learn how we can help you.