End of Financial Year checks

Just as December 31 prompts reflection, resolutions and vows of self-improvement in our personal lives, June 30 can be a useful milestone for reviewing your business.

The end of the financial year is a natural opportunity to step back from the day-to-day running of your business and ask: What’s working? What’s not? And what could be improved over the next six months?

While there are plenty of areas you could review, we’ve come up with four important mid-year business checks that are worth putting on your to-do list.

1. Get your financial documents in order

Number one, is, of course, preparing for your tax return. Ensure your income and expense statements are completed, and all other paperwork is in order. This will be your accountant’s busiest time of year, so it’s a good idea to make your appointment well ahead of time.

2. Review your pricing

When was the last time you reviewed your pricing? Perhaps your products and/or services have evolved, or the cost of inputs has changed. It’s a good idea to review your pricing regularly to make sure that what you’re charging reflects that value that you’re providing to your clients, and that you’re being fairly paid for your work.

3. Refresh your website

Developing your first website can be a traumatic experience, so it’s little wonder that many people don’t look at theirs again for a long (long) time. However, your website is one of your most powerful marketing tools, and requires constant attention to remain up-to-date and reflective of your business. A thorough review will show you what you need to pay attention to.

4. Update Your Professional Headshot

We’re sure you saw this one coming!

Our final tip is to check your current professional headshot and ask yourself two simple questions:

Does it still look professional?

Does it still look like me?

If the answer to either question is no, it may be time for a new photo.

Your headshot is an important part of your professional brand, particularly if you’re a consultant, professional, freelancer, adviser, business owner or other service provider.

Your photo might appear on your website, LinkedIn profile, social media accounts, email signature, proposals, speaker profiles and other marketing materials. In many cases, it’s one of the first things a prospective client sees when they research you.

When should you update your headshot?

There’s no hard-and-fast rule, but if your appearance has changed significantly, your current photograph is several years old, or the image no longer reflects the way you present yourself professionally, it’s probably worth updating.

You don’t necessarily need an elaborate photoshoot. A professional, well-lit photograph that looks natural and accurately represents you can be much more effective than an overly staged image.

And once you’ve got your new headshot, remember to update it consistently across your key business profiles.