What Does a New business Owner Need to do in the First 90 days? Steps to Take After your Grand Opening

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What Does a New business Owner Need to do in the First 90 days? Steps to Take After your Grand Opening

 

San Francisco, CA, USA - May 15, 2015:  A very long line of people waits to get into a new Cookies store in the Haight Ashbury section of San Francisco.  Cookies sells clothes and maijuana-related swag and accessories.

#1. Follow up on Leads

Hopefully you managed to gather contact information from all or most of your attendees. While the memory of your event is still fresh in everyone’s mind, make an effort to reach out to these people and find out if there is anything else you can do for them. Some may have thought of questions they would like to ask, and this is a perfect way to ensure you answer them.

#2. Thank those who Helped

Depending on the size and scope of your grand opening, you may have had help from other businesses. You may have used a caterer, DJ, advertising agency, or public relations firm to assist you with various aspects. You may also have invited the mayor or other city officials to take part in a ribbon-cutting ceremony. Take a few moments to extend your gratitude by sending each one a handwritten thank you card telling them how much you appreciate what they have done. It may not seem important, but you’ll be glad you did whenever it is time to call on one of these businesses again.

#3. Share on Social Media

There may be people who were unable to attend your grand opening or others who were completely unaware of it. Posting pictures of it on social media is a great way to share your event with those who couldn’t make it. Sharing on social media will also help you get seen by people who haven’t had the chance to hear about you yet.

#4. Follow up with Media Requests

When planning your grand opening, you may have invited members of the media. As such, you could receive requests for interviews at a later date. Don’t assume that just because your grand opening is over with that giving these interviews isn’t important. Follow up on all requests you receive so that you can continue to benefit from as much free publicity for your business as possible.

#5. Assess your Results

Once the doors are locked and you are able to catch your breath, take a few minutes to assess the results. Did you receive the type of turnout you had expected? How did people receive your business? What were your sales like, and what seemed to be the most popular items? Getting the answers to these questions will help you better determine how to proceed, and will also ensure you have the right type of inventory on hand for future promotions.

#6. Get Feedback from Employees

It can be very helpful to conduct a formal meeting so that employees can provide you with feedback. This should be done as soon as possible, preferably before you open for business the next day. This is a great way to find out what went right and what went wrong so that when you plan future events, you will be better prepared. It will also let you know if there are areas within your organization that need improving. For example, if your employees are unable to answer certain questions, this could indicate that more training is needed.

As a new business owner, there is plenty to do, including finding the right accountant. Our accounting and tax team specializes in helping new businesses get off the ground, and would welcome the opportunity to help you as well. For more information, please contact us.

 

By | 2016-09-01T12:22:25-07:00 September 1st, 2016|Blog, new business owner|Comments Off on What Does a New business Owner Need to do in the First 90 days? Steps to Take After your Grand Opening

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