Top tips for boosting your business
As many in the industry know, running a small business doesn’t leave much spare time, however it’s important for business owners to dedicate some time to growing their business – including ways to increase customers, cut costs, save money and ultimately, boost profits.
Chris Screen, Head of SME at St.George said: “Small businesses account for 96 per cent of businesses in Australia, employing more than five million people.
“However 85 per cent of small businesses employ four or less people, which often don’t include important support roles like accountants, marketing or business development managers.
“Small business owners are time-poor and are working hard to manage different parts of the business, but it’s also important to find time to consider how the business can grow. To help make that easier, we’ve compiled a list of some handy tips for business owners,” he said.
St.George’s top-tips for small business owners seeking growth:
- Re-visit your original business plan – remind yourself what your business is about and what you want to achieve. By re-aligning your goals you can create a clear roadmap for your business, which will help you stay on-track for growth.
- Grow your knowledge – make time to meet with different experts such as cash flow specialists or small business accountants to gain new insights and knowledge on how to improve your business.
- Run your business like a business – get the right support by using tailored business transaction accounts, credit cards and payment solutions that are designed to help you maximise your business efficiency and growth.
- Get on top of your cash flow – mobile banking technology has made it easier than ever for business owners to keep a close eye on their incoming and outgoing cash, to avoid over spending and save more money for business investment and growth.
- Invest for growth – growing businesses often need access to cash, however if done right and with good advice, the rewards can be significant.
- Take time out – your business is most likely your pride and joy, but it’s also important to take some time out to relax, it may help spark some fresh thinking and ideas to grow your business.
- Write your goals down – having your objectives in writing will help you commit to them. Make sure you set clear timeframes for each goal to be achieved. Ensure your goals are realistic and celebrate when you reach them.
- Honest and regular evaluations – shine a critical lens on your business processes, systems and customer relationships and look for opportunities to improve. You’ll likely think of a way something can be done quicker or better.
Chris Screen, Head of SME Banking, St. George Banking Group (St.George Bank, Bank of Melbourne, BankSA)
Chris is one of Australia’s leading professionals in the business banking sector. He joined the St.George Banking Group in June 2012 to lead the development and execution of the Business Banking Strategy across all of the Group’s brands, including St.George, Bank of Melbourne and BankSA. In addition, he has national responsibility for managing and growing the SME segment, which incorporates ~250,000 customers across three banking brands. With more than 20 years’ experience in a combination of relationship banking and strategic business roles, Chris has had the opportunity to engage extensively with a variety of business segments from Start Up and Small to Medium Sized Enterprise, to the broader Corporate Sector.
He has a passion for innovation and customer service and is a highly regarded speaker within the industry, regularly providing media commentary, as well as hosting a series of individualised events within the small business community.
Chris graduated with Bachelor of Business (Finance). Outside of work, Chris and his wife, Maria are kept busy with their four young children (all boys), Jayden, Bailey, Cooper and Hunter.
