Financial planning not only involves finding tax-effective strategies for running or managing your finances but also involves how you plan to sell investments, exit a business or make your savings last to enjoy a secure and comfortable retirement. It is never too early to start planning for your retirement, however, working out how much you will need to retire on can be complicated. At Peter Radford Tax, accounting and tax agents, we help clients set up and put their retirement plans into action.
Rebranding your business can seem like a daunting task, as it can involve a range of arduous tasks such as changing designs, updating clients, retraining staff and changing your marketing strategies.
However, rebranding can be an option for many businesses if:
Your business is too similar to competitors.
Your designs and values are updated.
You want to outgrow a poor reputation.
Your business is growing and changing.
You want to tap into a new demographic.
The market is changing.
To make the task of rebranding seem less daunting, consider these tips before starting to help you in your process.
Evaluate your need for rebranding Make sure that the reason for your rebranding is valid and don’t act on impulse decisions. Rebranding can take a lot of time and resources and can often decrease your business if not done successfully, so it is important that you evaluate if rebranding is right for your business and outline the reasons why. It can be helpful to talk to staff about it to get ideas from people who are also invested in the success of your business.
Plan a budget Before you rush into rebranding your business, make sure you have the funds to do so. Research and estimate how many resources will go into different areas of rebranding, e.g. marketing, website design, training staff etc. and outline a budget that can help you manage your finances through the process.
Have a strategy Before you start rebranding, plan out a strategy that will guide you in the process and can increase the chances of success. This will help the process run more smoothly and prevent unexpected challenges that could detriment your business.
Solidify your mission and values Having a clear understanding of the mission and values you want your business to have going forward can help you make important branding decisions and help build the foundation for your new brand. Having you and your staff on the same page with the business mission and values can improve efficiency and motivation when working on the rebrand.
