Depending on the nature of your business, the Christmas period represents a time to take a forced break from the busy year and relax with family and friends.
Or for many, it can be the peak revenue period, essential to set up positive cash flow for the new year ahead.
Regardless, December is the best time of year in business to tie up any loose ends, so that you can go into the new calendar year with a fresh outlook and renewed momentum.
Loose ends can mean many things to different business owners. In our professional services business as brokers and advisors, we have just created our pre – Xmas wish list. Here is ours:
Capital for Growth Projections 2021
Reconcile our CRM process to the written operating process
Find the right lawyer for internal drafting
Find the right marketing consultant
Establish a buyer journey in CRM
Build our 2021 road map
Whilst your list may not look like ours this year, here are our top 5 “loose ends” to tie up before January 1st.
1. 2021 forecast
Whether it is detailed or in summary format, update or write your business plan for 2021. Writing it now means you can then think creatively over the Xmas period, and reflect on what you wrote. It will also pour fuel on your motivation engine, so you are revved for 2021.
2. Renew commercial agreements
We have spoken to many many business owners recently who have long-standing commercial agreements that are essential to the business, which has since expired. December is the perfect reason to reach out, as that Christmas cheer starts to grow in people.
3. Staff Performance Meetings
It’s easy to forget the staff are the crown jewels. Make them feel that way at this time of year. They deserve it and will come back stronger next year. If you do nothing else – do this.
4. Thank your customer base
Doing business with each other is a choice, so it is immensely powerful when you show your gratitude for their choice to do business with you.
5. Check your financial accounts
It is difficult to disconnect from any business mentally when financial accounts are not up to date. Get in touch with your accountant, and check and double-check that there is nothing outstanding. ASIC fees, super registrations, compliance reports, and more, can be easily overlooked.
If we were to add one more to the list, it would be to have your business readiness reviewed. We know how critical an objective review of your business is to your making the best strategic decisions moving forward.
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