There are 7 words that many businesses use which should be avoided at all costs! These 7 words can be detrimental to your business success, “We have always done it this way”. Continuing to do things the way you always have could be a real expense for your business and here’s why.

You’ll never improve and get ahead of the competition if you continue on the same path. Things may seem like they’re going well but if you don’t use innovation and introduce new ways of working, your business could get left behind when it comes to current trends. This will lead to missed opportunities if you’re unable to adapt to change accordingly. Change encourages businesses to think more creatively which leads to new innovations and ideas. Exploring new technology means your business can become much more productive and efficient. That’s why at LJM we’re always on the lookout for new ways of working in order to improve our bookkeeping processes. 

Over the years of being in business your business model will need to change in order to improve customer satisfaction. The needs of your customers may change and you need to be able to adapt to each situation. Change should always be looked at positively in business and should be embraced. Being open to change, allows you to navigate challenges better because you’re prepared for the inevitable. 

Change can happen quickly in business and that’s why we advise business owners to keep a close eye on their financial position. We produce monthly financial reports which we analyse with our clients so they have a clear understanding of what their figures mean. Having clarity when it comes to your business accounts means you can adapt accordingly so you never get off track for too long, keeping you in control. 

Change is constant in a business environment but if managed effectively your business is much more likely to thrive. 

If you want to change the way your business handles its finances, why not get in touch? We’d love to be the next change you make to your business, for the better.