Small Business Resources
Success Planning for the End of the Year

If you are like most small businesses, August is when you return from the summer to plan out the end of the year. You may need to re-energize the plan you started in January or simply get back on track before the holidays hit you hard. A plan to get your small business in top shape before the holidays can set you up for success. Here’s a structured approach to help you get organized and maximize your business potential:

Assess and Strategize
1. Write down goals and a plan. They can be small. They can be big. They can even be the same ones from last year but write them down and look at them often. Marking off just one goal and tracking forward movement can be the spark you need to succeed and grow.

Financial Review
2. Looking at finances is never fun but doing it while you still have time to affect the profit margin or plan for cash flow changes and expenses can help reduce stress. Even a small budget change or financial rules you want to follow will help give you perspective when things get busy. Think about what has gotten your business off track in years past or even earlier this year and come up with a plan to avoid that business pitfall or reduce the impact.

Marketing and Management
3. Reassess your market and customers. Have things changed for your market? Are they the same? Are your customers still engaged? Taking a close look at what your customers or market is doing can open your business to unexpected opportunities. It is never a bad idea to seek client or customer feedback. Do it now while you are planning, so you can make sure you are focused on what matters.

4. This is also the perfect opportunity to pre-plan marketing. Help yourself by creating content now that you know you will need for the coming months. Whether it is a Thanksgiving sale or a client gift, you don’t have to wait until the week before. Go ahead and knock it out now. Planning ahead can often save you time and money with busy vendors and discounted items.

Check on Your Technology
5. Checking on the health of your website, social media accounts, point-of-sale systems, and office software can save you time before the holiday rush. Is it up to date? Are there things you need to upgrade? ARE YOU BACKED UP? This is a big one and, honestly, the most important thing you can do for your business. Make sure you are backed up both internally and externally, including your phone. It is also smart to create a list of your social media followers and archive your social media content. Social media hacking increases during holidays.

Staffing and Services
6. Ask yourself: Do I have the right people and businesses in place to support me and my business over the next six months? Maybe you don’t love your printing company. Or your coffee service provider just isn’t able to keep your office supplied. Or do you need to hire someone to help? College students are back, and an intern might be a good option. What you can do versus what you should do as a business owner are two very different things. Make a list of the things you hate doing and the things that take the joy out of business ownership. Look around for support and resources that may be available. You may find that paying someone to do that one thing gives you more time to grow your business well beyond the cost.