It is that time of year when we say goodbye to the year that’s just been and begin looking to the future, with anticipation. What will 2021 hold for us? How can we make our businesses thrive? And what do we need to do NOW to help make this happen? To help you get a jumpstart on your New Year Business Resolutions, here’s our Step by Step Guide to Making 2021 your best year yet:
- Review and update budgets.
- Make financial projections for 2021 and discuss with an accountant.
- Set key ATO dates in a calendar, like BAS lodgement dates and tax.
- Review pricing, and adjust if needed.
- Review your business plan, including policies and procedures.
- Schedule regular stocktakes to monitor for shrinkage.
- Reward your staff for their hard work.
- Invest in staff development.
- Check-in with staff about their planned holidays for the year.
- Develop your yearly marketing plan and note key dates in your diary.
- Decide what can be delegated NOW to free up more time for yourself throughout the year (and if you struggle with delegation, delegate the delegation!).
- Plan your 2021 holidays so you get a break too!
- Schedule weekly non-negotiable self-care time for yourself (gym, yoga, float tank, etc.).
- Let go of anything that does not work anymore.
- Update documents such as letterheads and email signatures.
- Update copyright dates on website, programs and other intellectual property.
- Revise your social media strategy.
- Include regular feedback from clients/customers as part of the sales process.
- Clean up EVERYTHING to say, ‘Goodbye’ to 2020 and ‘Hello’ to 2021.
It is time to shake-off this emotionally (and for some financially) difficult year and welcome in the new possibilities and unlimited potential that the New Year brings. With our new Your Business Resolutions guide to assist you, we know it is going to be your best one yet.
At VBA we specialise in strategic tax advice, offering tax and financial reporting for individual income earners, family businesses, tradies and construction companies.
General Advice Warning: This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.
