December being almost over, it is more than time to start thinking about how you envision your business in this coming New Year.
1. Prepare yourself for growth
Is your company prepared for next year’s expected growth? Review all your goals and make sure you have planned your budget properly.
Do you have the appropriate sales team to achieve your goals? Is your workspace not becoming too small for your growing team? How will a client outbreak be managed by your customer service? Will traffic burst toward your website add any technical costs?
2. Put your papers in order
If your administrative paperwork isn’t neatly organized, shame on you! If you realize that after expenses, taxes, and fees you can’t put money aside, it might be time to reevaluate your company’s performance.
Reexamine your financial report with care and compare your results with the one from last year. If some figures don’t look too good try and make sure you take a moment to see how to get them better next year.
3. Unite your team
Even if you might be constantly thinking about your business, it is not always easy to share your thoughts with your team. You may have, for example, changed your business’ direction without having invited everyone around the table to inform them about it.
If you haven’t had a chance yet, this is the best time to do it. Talk about the company’s performance; the future challenges or the accomplished ones, and plan together the year to come. Hold a meeting before your end-of-the-year-corporate-party so that the festivities don’t end up being all about work, but rather a moment to unite your team.
4. Look into how to make savings
Are heavy bills preventing you from moving forward? Plan in advance your yearly significant costs and try putting some money aside.
For example, most software licenses offer discounts when you pay in advance. This also applies for certain leases. Keep an eye on possible savings, which might in the end help you for future investments.
5. Check your technological equipment
While you are working on your end of the year statement, don’t forget to evaluate how your employees use software and computer systems. Some may be used to a specific type of software while being used to another kind. They end up having to force themselves to deal with a device they don’t understand, which in the end is counterproductive. Some software might not even be useful anymore, so get rid of them next year.
6. Set your goals
The best goals are those that remain practical and realistic. You can easily forget this when defining long-term objectives.
Obviously it would be fantastic to expect a 40% growth for next year. But the question is how? Keep in mind that each goal requires a change of behavior… So how will you have to adapt?
Do you plan on focusing more on your marketing strategy? So what do you have to put in place to achieve these goals?
Establish a specific action plan, and understand what is the right behavior to adopt.
Try to engage in a good cause, even if it is just for selfish reasons (such as a tax rebate or good press); or you might be doing it for truly selfless reasons, maybe just because you are a have a good heart. However try contributing to a cause before the end of the year.
Perhaps give out gift to your employees that are related to a good cause, or give away time or money. This will help give a positive meaning to your company’s philosophy.