Preparing Your Business for Next Year

By September 9, 2014 Latest News, Your Office


Wow! We can’t believe it’s already September! In just a few months, we’ll really be gearing up for 2015. With the kids going back to school and Summer beginning to wind down, September is a great month to sit down and prepare your business for next year as you head into the fourth quarter.

Review Your Annual Business Goals – What were your annual business goals for 2014? Did you meet all of your goals? If not, how can you meet your goals by the end of the year? What are your business goals for 2015? If you haven’t quite completed your business goals yet, create a plan that will help prioritize your goals and execute them in a timely manner.

Revisit Your Longterm Goals – How does your current business align with your longterm goals? How do you need to improve your business to reach these longterm goals? Longterm business goals tend to be more intangible, meant to provide guidance and direction. However, these goals should still be realistic and attainable at the same time. If you feel like your business is traveling in a new direction, you may want to consider reevaluating your longterm goals.

Review Your Sales or Service Performance – Has your revenue met with your 2014 revenue forecast? How are your financials compared with last year? Are your customers satisfied with the product or service you’re providing? If not, why? How did your marketing efforts fare? What were some of your failures and successes? It’s always important to visit your performance, especially before the end of the year. That way, you’re able to set up measurable goals for the next year.

Review Your Tax Payments – Have you reviewed your annual business’s earnings and prepared an estimate for what you’ll owe in taxes? If not, do you have a plan to prepare your taxes before January? Start on your taxes early so you’re not left in a bind. Don’t let taxes creep up on you this year!

Get a Head Start on Paperwork – Get a head start on any paperwork you need to file in January. Make a deadline schedule for important documents you’ll need to complete by the end of the quarter and stick to it. Reorganize your desk and computer.

Plan for Growth – Do you need new personal to help you meet your customer’s needs? Do you need to expand your office space or store to accommodate growth? Set aside a time to write a specific plan for meeting the growing needs of your business.

Lastly, set aside a time where you can officially review your business’s performance and set attainable goals for 2015. Remember when you’re setting a business goals, be specific and tangible. Set a deadline for your goals. Include as much input as possible from both your employees and your customers.

Leave a Reply