The end of 2022 is quickly approaching. How do you plan to start on the right foot in 2023? With these five tips, you can create a plan to make next year the best year yet for your business:
Evaluate your business goals.
It’s easy to look forward to the future, but it’s essential to assess how your current marketing and sales strategies are working. Conduct a year-end review of your business plan and review and update your key performance metrics. Don’t know where to start? Meet with a SCORE mentor or SBDC counselor who can help you review the big picture.
Boost your online presence.
Does your website have your hours and offerings easy to find? Make sure your social media pages are correctly linked at the bottom of your site or in your site toolbar. Do some reputation management and monitor your online reviews. Before you respond, understand the best practices in communicating with customers and finding a resolution.
Reach out to your customers and/or clients.
The end of the year is the perfect time to express gratitude to your clients and/or customers. Actual calls or personal emails are a great way to connect with people. Always personalize your communications to express your genuine feelings. Authenticity can form a connection with your target market!
Assess your funding needs and create a plan.
It’s important to review your financials and determine when you may need additional capital next year. Do you plan to purchase a new piece of equipment or hire seasonal employees during a busy time in your business? Plan your borrowing strategy now to ensure have the funding you need before you are down to the wire. Talk to an Accessity business development officer today to see what your options are.
Meet with your accountant.
Every business owner should have a trusted accountant in their corner. The end of the year is a great time to meet with them and ask about tax implications for your business from any of your plans for next year. This could include business expansion, hiring new employees or any losses your business may incur. Get ahead now, and you will be on the right track by April 15! Don’t have an accountant? Check out this guide from Forbes on how to find a small business accountant.
This information is shared for educational purposes only. Please consult legal, tax, credit, or financial experts for specific guidance.