Ok, I’m not one for sports analogies... But when you attend college in the southeastern part of the United States, that’s what March evokes... basketball and brackets.
For small businesses, think of March Madness as your spring clean-up. There are many things we can do in March to support and grow our businesses. From marketing and sales to financial management, there are a variety of tasks and activities that can help you reach your goals and increase your bottom line. Here are some of my favorites:
Review Your Financials
Review your financial statements and make sure that you are on track to meet your revenue and profit goals for the year. Look at your income statement, balance sheet, and cash flow statement to get a clear understanding of your financial position.
Plan for Tax Season
Tax season is just around the corner, so it's important to get your financials in order and start preparing your tax return. Make sure you have all the necessary documents and hire a tax professional to help you file your return and minimize your tax liability.
Evaluate Your Marketing Strategy
Evaluate your marketing strategy and make any necessary adjustments. Look at your website, social media channels, and other marketing materials to ensure they are up-to-date and effective. Make sure your website and Google My Business have the correct operating hours.
Attend Networking Events
This is my favorite thing to do, but I know it’s a struggle for many! Attending networking events is a great way to meet new people, build relationships, and promote your business. Look for local events in your area and attend them regularly to expand your network and stay connected with your community. There are now virtual opportunities for those that prefer that route.
Offer Seasonal Promotions
Is this your slow time of year? Offer seasonal promotions to attract new customers and drive sales. Consider offering specials on your products or services, or creating a limited-time offer to encourage customers to make a purchase.
Review Your Business Plan/Goals
Take some time to review your business plan and make any necessary updates or changes. Consider your goals for the year and make sure your business plan is aligned with them. If you haven't already, create a budget and marketing plan to help you achieve your objectives.
Need help with any of the above? Set up a time to talk with me and we can get you some clarity on your business moving forward. You can also email me your pick for the NCAA tournament.
Some Resources:
Digital Clean Up Day on March 18th
March 26 begins National Cleaning Week