As your business enters the fourth quarter, it is time to start thinking about how fast year-end will be here. There’s more than a nip in the air, there’s a sense of hustle and bustle for small business owners.
It’s time for you to get your business primed and ready to have a successful year in 2016. Be sure to check these items off your list before the minute hand strikes 12 on January 1st 2016:
- Thank your clients: It’s the most wonderful time of the year. Expressing gratitude is one of the greatest joys in life. Show gratitude to your clients and be sure to thank them for a successful year. This shows that you respect them and this will leave a lasting impression.
- Get your financials in order: Have you been holding onto your receipts for all those business transactions you’ve made throughout the year? Well, hopefully you have because these could be considered business deductions. Without them, you will end up paying more taxes. If you need help assisting with your financials, be sure to get help by hiring a bookkeeper or an accountant. They will help make informed decisions and choices in planning for the New Year. Examine your balance sheet, income statement and cash flow statements to make sure that everything is accurate. If you catch any mistakes, take action.
- Business goals for the coming year: How did your business perform based on your goals set last year? Did you accomplish what you set out to? If you did, keep up the great work and repeat with new goals! It you didn’t, you’ll need to make some adjustments. Ask yourself, why didn’t we accomplish the goals we set? After you figure that out, set your goals for the upcoming year. Prepare an action plan to go along with it and start implementing. You are all set to conquer your New Year’s goals!
- Generate more cash flow: This goal should be at the top of the list for every business owner. What business owner wouldn’t want more cash flow into his/her business? Some businesses might be struggling to generate more cash flow. If you need help, now is the time to get the cash that you need to start the year off on the right foot. Look into a merchant cash advance; it’s not a loan! It’s an advance of your future sales – so no personal guarantee or collateral are required, and poor credit is usually no problem. If you have a slow day, you pay back less that day.
Businesses that fail to plan, plan to fail. No matter how distracted you are from doing daily business activities, be sure to check these items off your checklist in order to have a head start going into the New Year.