Year End Prep

We're at the beginning of the holiday season which means it's almost the end of the year. For many small businesses this is one of the most profitable and busy times of the year. It can be a huge accomplishment to make it through each day, so planning for the next year is not even a consideration. If the customers are shopping and the money is flowing, why stop to think about tomorrow?

If you haven't started planning for next year yet, now is a great time to start. When profits are high, many business owners spend money without thinking of the first few months of the next year when cash flow will be low. Looking at the projected cash flow for next year helps you understand what you should be putting aside right now instead of spending. So what actually needs to be done right now, and how do you do it?

Step One is to ask for help. You can't and shouldn't do it all, so look for experts to help. This may be an accountant to get your books in order, a business advisor to help plan, and a coffee shop to keep you going. No matter what the help is, the key is to ask for help.

Step Two is to find the time. It's busy and you have a million things to do everyday, but future you will thank present you for making the time. Making time doesn't necessarily mean doing all the work yourself (see step 1). It means doing the work to determine what you can (and should) do on your own and find out how to delegate the rest.

Step Three is to do the work. Now that you have found the help and determined what you need to do, it's time to put in the work. Even though you've found help, you will have to provide information.

Step Four is to listen to the experts. When you find people to support you, you have to let them do that by listening and following their lead. They know what they're talking about, so listen and work with them to build your business.

Step Five is to keep doing what you're amazing at! Focus on what you love and are passionate about, and work with your team to thrive all year long and into the future.

If you don't remember anything else, just remember to ask for help! There are so many resources out there for small business owners, use them to succeed!