Small Business New Year’s Resolutions
It’s a new year with lots of changes on the horizon. There is s shift in leadership in America and the economy has steadily improved over the last couple of years. For these reasons alone and more, we know undoubtedly that change is coming. That said, when you’re creating your New Year’s Resolutions for your business, make sure you’re prepared for what's to come.
- CPA/Accounting/Finance Preparation: Schedule a meeting with your CPA right away to make sure you’re business understands all the risks for the coming year(s). For example, we understand the Fed may increase rates which in return effects the economy. Understand how those changes can impact your business and make it a resolution to be better prepared.
- Organization: Get organized from the onset of the 2017 year. Clear out all the clutter and make a resolution to keep it that way. Use systems like the cloud to streamline you’re filing processes. Scan those business receipts more often and send them to the cloud too. Almost every business can use a good and thorough cleaning. Make this a priority and see how much better you’re able to manage your business.
- Networking: When was the last time you attended a networking event that benefited your business? Now’s the time to evaluate the 2017 networking events that would be great for your business and the ones that would not. Spend the time and money on attending the events that will professionally enhance you or your business. If that means you need to attend an annual event, then be sure and budget for it. If that means traveling to a conference is unproductive, then find local networking events that are better. Networking person to person is still incredibly important so find the right opportunities for you and your business.
- Focus on the right Products & Services: By now, your business has a solid understanding on what products and services are profitable and which ones are not. Often businesses find themselves carrying products and services that have become stale and instead of dropping them, they continuing offering them. Do your business and favor and remove those items that are draining your businesses. Taking action towards simplifying your offering will help alleviate management headaches and in the long run save your business money.
There is never a perfect time to clean up your business then at the beginning of the year. Using these tips and more can help you prepare for a great year and get ready on what’s to come.