SJBiz_OfficeSpace_0519_Layout 1 5 / 17 / 19 4 : 31 PM Page 2 OFFICE TAKE FIVE SPACE Spring Cleaning Your Business Finances pring has sprung ! Each year , seeds turn to Sbuds and buds turn into flowers . So why not help your business blossom this year ? Here are five things to consider when doing some spring cleaning for your business : Clear out the clutter 1 Every business has something that prevents it from moving forward . In many cases , it could be outdated procedures that prevent the business from operating efficiently . Often , an established business put a policy in place years ago that is now inefficient or redundant as a result of new technology . Take this time to review your internal operations and see if there is something you’re doing that doesn’t make sense and scrap it . Clean the business ’ windows 2 Windows are not only a way to see outside of your office , but they are also a way to see into your busi - ness . Brush up on the ways that your customers and clients can see what you and your company are doing . Is your website stale ? Maybe you should revamp it . Is there a good chunk of time between social media posts ? Maybe you should hire someone to specifically manage that part of your business . It may cost more initially , but it’ll pay off down the road . Donate your lightly used goods 3 Just as we do with unwanted gifts or rarely used household items , donate some of your products or time to charity . While this won’t lead to any immediate profitability for the business , it will pay dividends for you in terms of public opinion and overall goodwill with your customer base . Plant seeds for the future 4 It’s a great time to consider making investments in your company today that will pay off in the future . Do you accept electronic payments ? Is the company prepared to work with the customers of tomorrow ? Have you rewarded staff that you expect to be a part of the long term plans for the business ? Dust off your business plan 5 Related to the point above , it’s a great time to revis - it that business plan that you worked hard to create years ago . Odds are that many things have changed not only in your business but within your industry . What new technology has emerged that has changed your business ? How have you adapted your business plan to account for that ? Is your financing structure updated ? Do you have to increase your line of credit to support your operations ? To sum it all up , it’s a great time to do some spring cleaning for your business . For a bud to blossom into a beautiful flower , one must cut the overgrowth to promote new growth . These tips will help you do the same for your business . Ren Cicalese III , CPA , MST is an associate partner at Alloy Silverstein in Cherry Hill . Contact him at ( 856 ) 667 - 4100 , rcicaleseiii @ alloysilverstein.com or on Twitter at @ R3CPA . 14 | SOUTH JERSEY BIZ | VOLUME 9 ISSUE 5 | SouthJerseyBiz.net