Drive your Business to Competitive Edge in 2012

It has been almost one month into the new year, and you, a business owner, may be looking back at the day you set new goals for your business to achieve in 2012 and asking yourself: what have I done in this first month that would set my business apart from competitors?

One thing you might consider revisiting is your Policy Charter. Given the nature of competitive markets, your business goals might have changed, as well as there may have emerged new risks. Revisiting your Policy Charter and updating it for the year ahead is a great way to set your vision and strategy straight in order to drive your business in the right direction.

Reviewing your Business Plan is another thing that can greatly help in strengthening your strategy for growth. Any new changes in the market, in the legal system, in the regulatory compliance requirements need to be reflected in your Business Plan.

Enhancing your Marketing Plan is a great way to set the right tone to how your services are made known to the public. Research new technologies and trends that drive marketing initiatives in today’s world and ensure to include them into your Marketing Plan. Set achievable goals! Iterative approach is best with any new tools and technologies in order to minimize any financial risks that may be associated with incorrect approach.

Your business’ Succession Plan is truly one of the most important things you can do for your business as it can help you achieve financial security of your business, ensure the continuity of services that it provides to its customers and smoother transitions when drastic changes happen within your business.

Investigate your Knowledge Management Strategy. Great indicators that something needs to be done with this regard are things like lack of central document repository, absence of knowledge management system, lack of sufficient support among staff in order to transfer knowledge, culture of “keep it to myself” attitudes. Investigate to determine the steps that as a business owner you need to ensure are taken in order to develop and implement an effective Knowledge Management Strategy and costs associated with it.

Assess your business’ accessibility. Can people with disabilities enjoy the benefits of your services? Are your staff welcoming to your customers with disabilities? If there is no way to make your business physically accessible, consider taking your services on-line.

Contact ESC Corporate Services Ltd. to find out how to register your new business or file any corporate documents.

Toll free number: 1.800.668.8208
Office telephone number : 416.595.7177
Fax: 416.595.1268
Email: searchandreg@eservicecorp.ca

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