Close Out the Year Strong
The holidays are already here, which means that 2020 is on our doorstep. Why not take some time to plan ahead now? We can call it a pre-resolution. Here are some tips for a strong year-end strategy for your small business:
Take another look at your budgeting strategy - Opportunities for growth start with responsible budgeting. Maybe it's time to ask yourself important questions like "Do I have an emergency fund? And if not, how can I start one?"
Be proactive about next year's taxes - As counterintuitive as it may sound, now is the time to spend money on things your business needs, so you can get the most out of your tax deductions. It's also the perfect time talk to your accountant and see what you can do to end the year in a fiscally healthy way.
Do some IT housekeeping - If for any reason you ever lose your data (contacts, client files, reports, etc.), the last thing you want to think is: "I can't remember the last time I backed up my data." Go ahead and make backups in a few different places like an external hard drive or a secure cloud-hosting service. Once you've done that, schedule time every few weeks or once a quarter to work on this important in-house maintenance.