Year 2 - Staying in Business !

Protect and Build

New Ideas and Objectives

Developing a sustainable enterprise means consolidating your achievments in the first year and planning to build on them for the future. You should now be in more of a daily routine and have some time for planning. Consider:

Financial projections

• Reviewing your customer profiles. Are some not worth retaining? Does the Pareto Principle apply- 80% of your business come from 20% of your customers? If it does, you need a few more of the 20% type.

• But ! dont ditch less profitable business which still makes a valuable contribution.

• monitoring your main competition. Are they reviving their operation and attracting some of your customers in the process.

• could you increase profit margins and/or cut some overheads now?

• publicity - are you getting enough? Tried local radio yet?

• networking - try seeking business ideas or partners through our discussion groups

• were the original financial projections reasonably accurate.

• Are your premises still suitable.

Infinity, and beyond ?

Finally are you ready to consider exporting? There is a lot of help available through government agencies like:

• Trade Partners UK

• Business Links

• Chambers of Commerce

• DTI