End of Year Business Preparations
The end is near! No, not talking about the end of the world, just the end of the year. December is around the corner and it’s time to wrap up 2012 but before you do, here are some things to keep in mind to make the most out of that last push of the year.
Get your financial ducks in a row. From top to bottom make sure that all your finances are straightened out. Take into account all financial aspects of your business. From taxes to balance sheets, income statements and everything in between, this Year End Checklist for small businesses will cover all your bookkeeping bases. Don’t underestimate the power of
being prepared ahead of time.
Create a last push with the holidays. This goes beyond the holiday promotions and advertising. At this point, it is time to go behind the scenes and make sure everything is fully prepped for the rush to come. That includes making sure all inventory is stocked (the last thing you want is to stop your sales momentum due to “out of stock” problems). Also, customer communication must be a top priority. For a most every shopper, their transactions depend on the shipping and arrival times of the product they ordered. Communicate with your customers when the last day to place their orders is to eliminate any confusion or chances of them not making a purchase.
Look at what worked and what didn’t. Take a good look at your business year, how your budget went. What worked? And what are you going to be doing different next year? Remember, if it did not work this year, its not a mistake, it’s only a learning experience so you know what your business should do come 2013.
How did your small business do this year? What are you planning on incorporating to your business plan in 2013?
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