Six new year’s resolutions for business owners

We’re not only heading into a new year; in a fortnight we’ll enter a new decade!

There couldn’t be a more perfect time to revitalise your business plans. 

Losing weight, quitting smoking and other popular New Year’s Resolutions are great, but they won’t help your business’ success. Consider making a list of professional goals to take on during 2020 and bring about a positive change that will encourage growth.

Nordens Chartered Accountant and Business Advisers | Strategic Business Planning | London | Essex | Award winning accountant

Here are six suggestions to get you started:

1.    Revamp Your Prices

We belive in “real numbers” here at Nordens. Business owners should charge the rates they deserve and they are worth instead of undervaluing their services. If you’re looking to raise your prices, it’s time to set a strategy to ensure you don’t lose clients/customers in the process. Do your research and compare your services with your competition. Then be transparent with your existing clients to avoid any issues. The team in our award-winning strategic department would be happy to share their advice if you’re not sure where to start. If your business’ overall financials are not straightforward, you can begin understanding the numbers by watching this video.

2.    Improve Cash Flow Management

Cash flow problems are often the cause of small to medium businesses’ failure, so it’s important to focus your attention here. Consider a cash flow budget and manage your debtors. As you know, we work closely with our clients to manage and improve their cash flow.  The A2Y team is on hand to get your bookkeeping in order and review your situation on a quartlerly basis, allowing you to stay on top.

3.    Update Your Digital Strategy

If you don’t have a digital strategy yet, add it to your list for 2020, as having an online presence for your business increases transparency and trustworthiness. There are always new platforms, apps and programs that can improve day-to-day operations. Spend some time researching new tools and technologies, whether for social media, search engine optimisation, video, or even organising your tasks, and see if any fit into your strategy.  Thanks to recent digital innovations, the pace of change moves swiftly in the world of business. A Digital Transformation is the three-pronged process of using technology to alter your business’ processes, culture, and customer experience in order to fit your industry’s expectations of business today. You can find out more about this here.

4.    Increase Overall Productivity

Unnecessary meetings and too many points of communication waste time and can result in working overtime and affecting your work/life balance. Focusing on increasing productivity levels, whether on a personal level, for your team or the whole business, will free up time. Our strategic business coaches would be willing to step in with some timely guidance if you need productivity or time management tips!

5.    Up Your Communication Game

Ineffective communication, misunderstandings and repeating the same information affects operations and staff morale. Sometimes over-communicating is necessary as the people listening don’t absorb as much as you expect them to. Learn how to improve your communication by watching our video.

6.    Check in with Your Employees and Clients/Customers

The new year always means that people focus on self-improvement. Check in with your clients/customers to see what their New Year’s resolutions are and whether there’s a way for you to help them achieve their goals. It’s also a good plan to consider integrating or improving your customer feedback strategy. We’re thrilled with our 173 Trust Pilot reviews – all with five star ratings, so think about implementing a regular feedback process for your business.

And if you haven’t already made a resolution to check in with us regularly to see what improvements we recommend to benefit your business, add this to your list!  Remember that we offer a free consultation – what better way to get your new year off to a fantastic start?!

 
Beyond Accountancy

At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.

Nordens Strategic

Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.

Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.

Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.

Accounting 2 You

Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.

Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.

With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.

Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews

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Chris Dyer

Director - Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

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Jamie Brown

Co-Founder - Chicmi Limited

Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.

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Simon Rose

Director - Rose Opticians

I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation

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Rebecca Bossick

Founder & Director - Physio LDN

Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.

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James Aconley

Principal - Pauline Quirke Academy

Great accountants, always available to offer advice. The team have transformed my business.

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Christopher Wilce

Founder - Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.

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Dave Hodges

Director - Linekers

Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!

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Tony Charles

Founder - Foundation Sports Limited

A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.

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Peter Horlock

Managing Director - Prime Time Boilers

I have been with Nordens for many years now and they are a great accountants.

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Simon Cushing

Founder - Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

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Andrew Martin

Managing Director - AMD Interior Architecture

Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.

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James Robinson

Director - Forma London

Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!

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  Why I Founded Nordens
Accounting 2 You

In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.

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Mark Norden
Founder

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Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!