Your Business With James Caan Autumn 2024 1 - 83

YOUR BUSINESS _ AUTUMN 2024
TARGET
PROFITABLE
CUSTOMERS
AND THE REST
WILL FOLLOW
Advice that adds up
Looking for support to take your business to
the next level?
Established in 1969, Aston Shaw is one of East
Anglia's leading chartered certified accountants
with presence in Norwich, Cambridge, Dereham,
King's Lynn, Great Yarmouth and Ipswich.
We know that managing your finances can feel
overwhelming and stressful. That's why our
award-winning team is dedicated to making your
financial life as easy and stress-free as possible
while providing trusted advice and support.
Whether you're a sole trader, business owner or
leader, our aim is to make your accounting, tax and
financial management straightforward and simple.
We also have a dedicated team responsible for
helping arrange your personal finances, find tax
efficiencies and help you plan your future.
target those that will have a lifetime
value for your company. Segment
your target audience, then investigate
and test the right channels to focus
your spending. Target profitable
customers who will enhance your
business and the rest will follow.
3
ELIMINATE
UNNECESSARY COSTS
Review your current spending and
consider whether all costs are absolutely
required for the smooth, efficient running
of your business. Consider cutting any
unnecessary expenditure and consolidating
your tech stack to boost profit potential.
4
IMPROVE MANAGEMENT
SYSTEMS AND PROCESSES
Some businesses waste up to
30% of labour costs through ineffective
management systems. Scrutinising and
improving these systems can reveal
efficiencies and, in the long run, positively
influence cash flow by increasing
customer satisfaction and building trust.
While there isn't an industry-agnostic
standardised checklist, start by looking
at every aspect of your operations and
work through the entire business flow;
both from a customer journey perspective
and the production work flow internally.
Consider how tasks are assigned and
monitored, how communication travels
between departments, and software
capabilities - are there opportunities
to reduce the number of third-party
platforms through consolidation?
Furthermore, identify any bottlenecks
or inefficiencies that cause delays as
these in turn increase your costs. This
can be done through regular audits,
feedback sessions with employees and
analysis of performance metrics.
5
REVIEW PRICES TO
IMPROVE PROFIT MARGINS
Reviewing your pricing structure can
give you the option to increase your profit
margins on your best-performing products
or services. While as a business leader you
will be aware of your gross profit margin,
it is imperative you monitor competitor
pricing and new market developments
to ensure you are maximising
revenue and remaining relevant.
Competitor analysis will increase the
frequency of opportunities to raise your
prices, which will not be pleasant news for
your customers. This is where the market
relevance comes into play and not only
provides your customers with better value
for money, but also the trust that you are
the right partner for them going forward.
Perfect fit for you
From handling your personal tax returns
to managing your company accounts
and helping make your business more
profitable, Aston Shaw offer tailored
solutions that fit your unique needs. We're
always evolving and thinking outside the
box to ensure you receive the best service.
We pitch ourselves as an extension
to our client's business - so whether its
business advice, contacts for funding
solutions, cost reduction platforms
for utilities and beyond, our network
of strategic partners are on hand to
help your business take the next step.
Our advice goes beyond the everyday
to help you prepare for tomorrow.
Relax. This is accounting,
but not as you know it...
For more information
Visit: astonshaw.co.uk
Email: info@astonshaw.co.uk
http://astonshaw.co.uk
Your Business With James Caan Autumn 2024 1

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