As 2016 approaches one thing that most business owners are doing right now is preparing their the businesses.
Today I’m going to give you 5 tips on how to do that and why.
1.Clean up shop
Starting 2016 out in clutter is a disaster waiting to happen. Clean up your office, rearrange your office space,and get rid of files that has already been scanned into the computer and are no longer needed. Clean off old pictures on the phone. Delete apps that you’re no longer using. Get your phone ready for new year. Delete all pictures, videos, and documents from your computer. Free up space for the new stuff that’s coming.
2. Check your numbers
Review financial documents like your profit and loss statements. Your cash receipts journal. Your expense spreadsheet. Review your numbers. See what works and what did not. Make a record of lessons learned so you do not make the same financial mistakes again next year.
3.Update Market profile
Review your current customers. Which ones are your favorite? Which ones do you face challenges with? Why? Review your revenue and profit margins for each client. Make sure to update your target market profile if needed. As you go through the year things change and you want to make sure you start the new year off on the right track.
4.Stay Informed
Business laws take effect on January 1st. Stay informed. Contact your human resources attorney. Contact your CPA. Get on the http://irs.gov mailing list. Make sure you know what is going on for the upcoming tax season. If you have any employees then you do know that paperwork must be postmarked by January 31st and sent to your employees. Get your bookkeeper on it. Don’t wait until the last minute.
5. Build your new strategy
It’s time to build a new strategy. What are some things that you would like to accomplish in 2016? Are there some aspects of the business that needs to be adjusted in order to reach success? Make sure that you start planning now. Schedule a meeting with your team make sure that everyone knows exactly what they will be doing for the next year for you to reach those goals
