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Summer is almost gone and we all know fall brings us to that time of year when we need to start prepping for year end. If you’re a small business owner, then you know it’s time to start crunching numbers! Well hopefully not just starting but… you know what I mean. There are some items you can look at now that will make the end of year and tax season 🤮 much smoother.
– Holiday gifts, cards etc: This year may look different as far as holiday parties but having those cards, and gifts ready is a small item that can be a relief to get done. I mean seriously…who wants to write 100 holiday cards right before thanksgiving to hope they arrive for the christmas season. Not Me!!
– Review Goals: Take a look at your goals for this year and start to look at how those will need to be adjusted for next year.
– Budgets: This goes hand in hand with your goals. Will next year be a year of growth in new areas? Expanding? Did you have money left over in any budgets because you were a savvy shopper? Adjust accordingly. Helpful tip* use past years to help guide for future goals
– Projects: How are your current projects looking? Is there something you need to adjust going forward? Plan upcoming projects! What would you like to do? What does it take to get there?
– Strategy: Put a plan in place, list resources you’re going to need and set dates to reach out to them. Put pen to paper, people! Or fingertips to keys, whichever your preference.
– Lessons Learned: You did not fail at anything this year, you learned lessons! Take each of those and break them down, what you did well, what needs improvement. Etc.
– Documentation: Review! Review! Review! This ties into all other items! Keep track of everything! Start to gather information for 1099s that will need to be put together if you haven’t already done so.
What is your capacity as a business, business owner, employees? What areas could you be more efficient? Keeping track of these items as the year progresses will make this last quarter much easier for you! These tips are only some of the responsibilities as a business owner. We know it can be overwhelming. If you’re having trouble keeping track of it all, reach out to us! We have systems in place that track most of these items and we would love to help you!
-Legacy Frontline Team