Home topics small-business-resources hot-tips Hot Tips Hot Tips SMBs must begin planning for 2014 Gina Baldassarre October 14, 2013 The silly season is already creeping up on us and 2014 is only a few short months away. The Christmas period can be hectic for many businesses, with many staff on leave, and a shortage of resources to adequately plan for the year ahead. Andrew Graham, national head of business solutions at RSM Cameron Bird, said many industries are still experiencing difficult times and need to make sure they plan accordingly. “Business owners need to have strategies in place to end the year and start the new one in the best shape possible. This will also ensure that business owners can make the most of the holiday period,” Graham said. Here are 14 tips from RSM Bird Cameron on preparing for 2014: Review the products and services you sell Tailor the mix to appeal to changing customer needs for the holiday and new year season, and start planning for other times in the year when your customer’s needs change, like Easter. Review pricing structures to ensure competitiveness and profitability Put formal procedures in place to monitor and proactively respond to competitor pricing changes. Review stock levels Make sure you can satisfy customer demand for profitable product and service lines. Identify slow moving stock that can be liquidated as ‘bargain buys’ or bundled with other products as a value-add. Review sales, marketing and promotion plans Make sure plans are optimised to help