Spring brings about many new changes, not only in the weather but also in business. It calls to our attention a need to re-evaluate – to clear out the old and start anew.
However, spring cleaning is not only for our homes; it’s also an excellent time to evaluate and improve our business operations. In fact, adopting a 90-day routine for ‘spring cleaning’ our businesses each quarter can have significant benefits.
In this article, Kevin Brent, Founder of BizSmart®, provides insight into the benefits of a business spring clean all year round:
What does it mean to ‘spring clean’?
A spring clean refers to a complete overview of business activities. This is done so that owners can identify issues and make decisions around certain practices that may be costly or time-consuming.
As many business owners are guilty of getting caught up in the day-to-day running of their company, finding time in their busy schedule to plan and reflect, can be extremely challenging. Over time, processes can become outdated, which can lead to increased costs, reduced productivity, and ultimately, a decline in the bottom line.
By implementing a ‘spring clean’ quarterly, businesses can maintain peak efficiency. Regularly reviewing processes, including digital systems and software, can help to streamline workflows, reduce or eliminate waste, and, in turn, increase productivity.
How to spring clean?
Adapt to a 90-day rhythm
To effectively analyse a business and improve performance, businesses must regularly analyse its habits, goals, and challenges. Using a framework such as a 90-day plan, enables businesses to ask the question, ‘what does good look like in 90 days’ time?’ or ‘when we meet in 90 days, what must have happened between now and then for us to consider the quarter to be a success?’
Quarterly spring cleaning also provides the opportunity to assess and pivot your business model if necessary. For instance, if certain products or services are not selling as planned or there is a shift in consumer demand – a quarterly review can provide a chance to explore new markets or offer something new to your customers. It’s always essential to keep up with the latest trends, and a quarterly spring cleaning can allow for the flexibility to make effective and rapid changes.
Evaluate organisational structure
Another significant benefit of spring cleaning your business quarterly is that it helps to keep your operation well-organised. As businesses evolve and grow, it can be challenging to maintain order amidst employee changes, new products or services, and evolving systems.
Taking time each quarter to reassess the organisational structure, and delegate tasks to the most appropriate individuals, can help keep everyone on track and ensure that nothing falls through the cracks. This also works to instil accountability within the team.
Goal alignment
One of the pivotal starting points for a ‘spring clean’ should involve a review of the company’s performance over the last quarter. Doing so will allow business owners to assess what practices are working well within a business and what aspects of their operations need to be changed.
A review is also an excellent time to assess how a company is doing against its competition. Reviews also give business owners the opportunity to set new goals for the upcoming quarter and create new milestones for their business to surpass.
Quarterly spring cleaning is an opportunity to evaluate the overall financial health of the business. Reviewing financial statements, profit and loss statements, and tax deductions and credits can ensure that the business is on track for goals and objectives.
Additionally, it is easier to catch errors or incorrect financial records quarterly rather than annually.
Conclusion
In conclusion, spring cleaning a business quarterly is an excellent habit to adopt. It’s an opportunity to maintain peak efficiency, assess and pivot business models, keep the operation well-organised, align business goals and evaluate the overall financial health of the business. By doing this, it can lead to increased profitability, driven by the power of clear and aligned objectives for success.
Kevin Brent, Founder of BizSmart®.
