It’s that time of the year! When business owners can get consumed by their to-do list, overwhelmed by organising staff leave and stressed by planning for the new year.
We believe, the end of a year is cause for celebration! You have made it through another year in business, so for a moment, appreciate the year that has passed and all of the lessons you have learned.
Most businesses take some time off at the end of the year so this is the perfect time to pause, reflect, take stock and plan for the year ahead. Whether you continue working through the holidays or not, this is the perfect opportunity as your business will either be closed or it will be incredibly quiet (because all other businesses are closed).
Our recommendation is for you to utilize this quiet time and see where you’re at. Here are a few ways you can do that:
- Review your finances
Take some time to look over your finances. You should know how profitable your business is, the assets and liabilities of your business and requirements for your business’s taxes.
Then, compare your financials with the previous years and pay attention to any major changes.
- Review your goals
Take note of the goals you set for your business earlier in the year. Have you achieved them? If not, why? Are they still relevant for the new year? If so, how do you plan on achieving them next year?
- Backup your technology devices
While this should definitely be done more regularly than once a year, it’s an easy time to schedule in backing up your computer, contacts, important documents and reports.
- Show gratitude to your employees and clients
Show your employees and clients how thankful you are for them. This can be with bonuses, gifts, personal emails. You may also choose to plan an event to celebrate a wonderful year together.
- Plan a holiday
As a business owner, it’s easy to forget about our own holidays but we need them too so book a holiday for yourself in the new year. It doesn’t matter where or for how long.
- Enjoy yourself
The end of the year means there’s a lot of events and holidays. Our calendars are usually overflowing so remember to enjoy yourself guilt-free.
See you next year!