Sales and Marketing - Jen Jordan
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5 Essential Year-End Tasks Every Small Business Owner Shouldn’t Overlook.Can you believe we’re already nearing the end of 2021? Whether this year has been a "boom," a "bust," or somewhere in the middle, the weeks before the holidays could be a great time to review your small business year-end checklist. A bit of preemptive effort can set your business up for even greater success in the coming year. Here are five oft-overlooked tasks we believe every small business owner should complete to wrap up one year well and prepare for the coming year. 1. Back up your computer(s) and ensure all cyber-security measures are updated. This one might seem a little unnecessary, but many businesses rely on a computer system for everything from point-of-sale systems to employee records and accounting. Taking the time to back up your computers and update your security software can be time-consuming and frustrating, but it can save you a considerable headache should something go awry. With the rise in ransomware attacks, it’s more important than ever to maintain updated cyber-security measures and security software. 2. Update your business’s privacy policy and other insurance policies. A privacy policy explains how your business handles personal information, whether from your employees or customers. This policy should act as a guide for how your team collects, holds, and uses all personal information. Review and update your privacy policy to ensure you’re offering appropriate protection and complying with your existing policy. While you’re reviewing your privacy policy, it’s an excellent opportunity to review and update other insurance policies your company has. Ensure you’re carrying enough coverage and all your policies are up to date or set to renew at the appropriate time. 3. Review your website. Many small businesses are grateful for their website as a tool to increase sales or connect with customers. Unfortunately, they pay very little attention to their website after it launches. Websites should be treated as a living, breathing part of your business that you regularly revisit to ensure it’s relevant and up to date for your audience. Even little things like updating your photos and product or service information can be helpful. Take some time to ensure your staff page is accurate and your business contact information and hours are correct. 4. Update employee information and vendor files. While you’re updating the staff information on your website, the end of the year is a great time to audit all your employee information. Ensure you have correct phone numbers, addresses, and payroll information. This streamlines payroll and other weekly or monthly tasks, saving you valuable time throughout the year. Next, make sure all the information you have on file for vendors and suppliers is updated and correct, including any new vendor relationships you’ve started this year! 5. Write business goals for the new year. Take some time to set some specific goals you’d like to accomplish in the coming year. These should align with your broader, long-term business objectives. Whether you write customer acquisition goals, revenue objectives, or choose other focus areas, having specific and measurable goals can help small business owners use valuable time, energy, and resources more strategically. The adage, "failing to plan is planning to fail," still rings true. These small tasks are easy to put off amid the urgency of daily tasks, but setting aside time to accomplish them at the end of the year should inspire you to start the new year strong and energized. Works Cited https://www.ondeck.com/resources/end-year-checklist-small-businesses https://www.thebalancesmb.com/year-end-checklist-for-small-businesses-2948183 https://www.checkli.com/checklists/anthonycaliendo/end-of-year-checklist-for-small-business-owners-1 |