Tips to help grow your business

6 June, 2018
Is your business expanding?

Do you need to revise the way your running things?

Are you looking to extend your network?

We have put together a list of some handy tips  you can use, to take your business to the next level.
 

Research and Review

First up - sit down with a cup of tea (or a wine!) and spend a bit of time going over your Business Plan. 

This should be done regularly, so you can keep efficient and stay on top of changes in your industry. 

It’s important to be revising your goals - are they still relevant? How are you going to reach them? What needs to be done to make sure they are achieved?

Then - go through your finances. Not just your income and expenditure, but the finer details, such as your bank statement and check how much you are paying in fees on your business account and loan facilities. 

At CWCU, we do not charge any administration fees on our loan products. 

We also pay interest on your savings, when the balance is in the credit on our Business account.

It’s things like this that can make a big difference, over time. Have a look at our Business Loans for more information.

 

Workshops and seminars

Next up - grow your network! 

Small business seminars and workshops are run regularly in most areas. They address issues like planning, financial management, innovation, employing staff and exporting. And - they are often free!

These workshops can help broaden your knowledge to help expand your business - but they also help to develop networks.

This means you have a base of people and businesses you can work with to stay up to date on industry events and information.

You may also find new channels to promote your business.
 

Advice and coaching 

Do you think you might need a bit more assistance, one-on-one?

There are so many fantastic people out there offering expert advice or business coaching services. 

They have their reputation set on their ability to help you find solutions to problems and finding ways to trim down, bulk up or extend your business.

They can help you check things like
  • Are you across the latest standards and Codes of Practice?

  • Are you using suppliers that are offering you the best deal possible?

  • Is there any support you could be getting from the Government, like tax breaks?


They can also help keep you motivated and provide support, celebrating when you have a win and working through challenges with you.
 

Additional finance

Once you have your revised business plan and are armed with knowledge - it’s time to implement changes.

An injection of cash into your business is an obvious way to help it grow (as goes the old saying, ‘you’ve gotta spend money to make money’).

This doesn’t have to come straight from your pocket.

Australian, State and Local Governments offer different levels of funding and incentive schemes for things like research and development and innovation. It’s always worth looking into your eligibility for these.

It might also be worth checking out your loan options. Assess things like the security needed and what you’ll be paying in interest rates.

It’s also important to go with someone you can trust, who can provide you with the support you need.

With CWCU, you can avoid call centres and endless layers of decision makers, and speak with someone you can trust.

Come into a branch to chat with our friendly loan staff if you’re interested.
 

We come to you

Our Mobile Relationship Officer can come to your doorstep to discuss your loan options.