Ask yourself the tough questions and answer them honestly. It could make a big difference in 2021.
Resolution # 1 Control the numbers you have today – not what you wish for six months from now. Analyze the current financial reports for your business. (If you don’t have current financials, make that your number one priority) Are you working in red or black? Do you have a forecast of what the 2021 numbers will look like if you continue the same revenue? Could your business hinder another year of unexpected interruptions and interruptions operating the way you currently do? If not, be honest with yourself. Make the changes you need today to get to work green ASAP. There is still a lot we don’t know about how 2021 will happen. If 2020 teaches anything, it is an expectation of the unexpected. Stick to 2021 budgets as if your business life depends on them – because they are!
Decision # 2 Get organized! What would happen if you were suddenly named in a lawsuit, or needed to apply for a loan? What if you or your business are the subject of an audit? How difficult is it to produce files, papers, bank statements, entity documents, or operating agreement for your company? Is your business currently “in good shape” with the situation you are working in? What about your employee files? Are they perfect? Make 2021 the year you spend some time getting your papers and working together. Remember that the longer you wait, the more difficult it will be to repair later.
Resolution # 3 New year, the same problems? The time between Christmas and New Year is an excellent opportunity to reflect on the past twelve months. While it is important to be grateful for the blessings, it is also important to be considerate of the things that did not go well. Ask yourself, “Do I still have the same problems that I faced today in January?” Are you still dealing with the same toxic employee? Still have the same balance on the company’s credit cards? Still haven’t fixed the plumbing issue in your store’s backroom work? Problems happen, this is only life. However, it is the way business owners deal with inevitable problems that separates successful businesses from failed businesses. On thinking of what isn’t working, come up with a solution right away and then Implement it.
Toxic Officer? Time to act out. Interest rate too high on these corporate cards? Time to recap. The sink is still broken? Call a plumber. A person can point to a problem and experience its existence. Be the one to actually do something about it.
It is true that not all problems can be solved easily. Not every “repair” is simply about calling a repair technician. We cannot always change other people’s behaviors or predict circumstances. However, we can change ourselves and how we react to situations. The first step to doing this is to simply seek help. If you can’t figure out how to solve or deal with a problem, find those who have experience or can help.
Law 4 Small Business is here to assist owners in every aspect of running a business. Collaborate on papers, disputes, lawsuits, group issues, employee issues, taxation, and more. Check out our extensive list of services Here .
Call us today at 1-888-992-4952 or call us Online and let us help you start the year right.
author: Christy Donahue
Kristi is the Marketing Director (CMO) for Slingshot, the parent company of Law 4 Small Business (L4SB). She holds an MBA with a Psychology undergraduate. Christy, formerly senior vice president of Albuquerque Bank, now leads the marketing efforts of six legal brands of the Slingshot Group of Companies.