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Give Your Business a Clean Slate in the 4th Quarter
The end of summer is here. Kids are going back to school, which in our house always meant starting a new school year with a clean slate.
You can take advantage of this “clean slate” idea in your business too. Here’s a sample check list to give you some ideas:
- Business plan. Every football team has their playbook and your business is no exception. You need a written game plan on where you want your business to be in the next three months all the way out to three years. If you don’t have a written business plan, now is a perfect time. Don’t know how to start? Contact our office and we can help you get on track.
- Insurance. Now is a good time to meet with your insurance agent and review your policies for both your business and home. Ask your agent to research finding better coverages and rates and don’t forget the life insurance!
- Marketing. If you are already working with a marketing or advertising professional take the time to review your marketing plan. If you have a website ask your webmaster for reports on how many times prospective clients are visiting your site. They should be able to provide you with detailed reports and formulate a game plan. Membership comes with several marketing benefits – call our office to make sure you are using yours!
- Customer service. How well do your employees handle customers? Are they empowered to handle customer problems without having to go a manager? Do you have a good training program in place for new employees? How about weekly staff meetings to review what is working and what is not. Good customer service is imperative to the success of your company.
- Succession plan. Whether you are a large corporation or a “mom and pop” operation, you need to have a succession plan in place. Not only that, but someone other than you needs to know what it is and how to implement it. Whether it is a spouse, your attorney, or financial advisor, this is one of the most important discussions you can have.
- Business expansion. Consider expanding your business overseas. Join numerous other Carbon County businesses that already export their products overseas. The Allentown metropolitan region which includes Carbon County ranks 74th out of 385 areas in the United States for exports. The Northeast Pennsylvania Alliance (NEPA) has an International Trade Department that can help you through the maze of exporting your products to other countries. Check their website at http://www.nepa-alliance.org/business/international-business-development/pa-center-for-trade-assistance/.
In other news, did you know, beginning October 1, businesses that fail to update their payment processing terminals to accept chip-enabled EMV credit and debit cards will be exposed to new, potentially devastating liabilities? CLICK HERE for Entrepreneur magazine’s website to download their free 8 page booklet entitled “Preparing Your Business for EMV Payments."
For help or more information on these and other ways to make your business more successful including our loan packages and current rates, or for assistance starting a business, contact the CCEDC office today at 610-379-5000. Your success is our success.