Q2 preparation: a guide for small businesses

As we enter the second quarter of the year, it’s time for small businesses to gear up and prepare for what lies ahead. Whether you’re a start-up or an established business, below, we provide practical tips and actionable insights on how to make the most out of Q2.

Evaluating your business' performance

As a small business owner, it's important to evaluate your business' performance on a regular basis. This will help you identify areas that need improvement and make the necessary changes to keep your business running smoothly.

There are a few key indicators you should focus on when evaluating your business:

1. Sales: Are your sales increasing or decreasing? If they're decreasing, what could be the reason? Is there a seasonal dip or something more serious going on?
2. Expenses: When was the last time you checked your outgoing expenses? Are there any areas where you could save money, such as on fuel?
3. Customer satisfaction: Have you recently asked your customers how satisfied they are with your product/service? How can you improve your customer satisfaction rate?

By considering these questions, you’ll be able to effectively evaluate your business' performance, which will help identify issues early on and make changes to maintain a smooth operation.

Setting goals for the quarter

As a small business owner, it's important to set goals for each quarter in order to stay on track and continue growing your business. But what should those goals be?

Here are a few suggestions:

• Increase revenue by X% - This is perhaps the most important goal for any business, as without revenue growth, the business will eventually stagnate. Figure out how much you need to grow in order to maintain healthy growth and set that as your goal.
• Expand into new markets - If you're selling mostly to customers in one particular area, try branching out and see if you can find new markets to sell to. This could mean selling online or setting up in a new location.
• Launch new products or services - Introducing new offerings is a great way to boost revenue and keep customers interested in what you have to offer. Brainstorm some ideas for new products or services that would complement your existing offerings.
• Reduce expenses - Another key goal for any business is to reduce expenses so that more of the revenue can be reinvested back into the business. Look for areas where you can trim costs without compromising quality or service levels. For instance, use your fuelGenie fuel card, so your drivers can save on petrol and diesel.
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Tips for achieving your goals

Set realistic goals: It can be easy to get carried away and set goals that are impossible to achieve. Make sure your goals are attainable and that you have a plan for how to achieve them.

1. Write down your goals: This may seem like a no-brainer, but it's actually really important. Having your goals written down will help you keep track of them and ensure that you're making progress.
2. Create a timeline: Once you've got your goals set, it's time to create a timeline for achieving them. This will help keep you accountable and on track. Trying to accomplish too many things at once is a recipe for disaster, so take your time and focus on one thing at a time.
3. Get organised: This goes hand-in-hand with creating a timeline – you need to be organised if you want to achieve your goals. Make sure you have all the resources you need and that everything is in its rightful place. This will save you time and energy in the long run.
4. Take action: The final step is actually taking action towards your goal. This can be difficult, especially if you're feeling overwhelmed or intimidated, but it's important to remember that even small steps can lead to big results.

fuelGenie

Don’t forget that with your fuelGenie card, you can further your savings each time you fill up at Tesco, Morrisons and Sainsbury’s as well as most Shell stations with your fuelGenie+ card. On average, our fuelGenie customers saved 4ppl last week and 3ppl for the year to date. Not only this, but Morrisons has a limited-time offer where customers could save 5ppl when they spend £35 in-store or online.

So why not pop to your nearest fuel station to start saving? You can easily locate your closest fill-up point with our app or on our website.