- Create a Task List of items that need to be completed by year-end, and prioritize them based on level of importance. As you review the list, those items that should take priority will usually rise to the top in obvious fashion. It is not uncommon for us to avoid the things that we least like to address, but I would suggest doing those things first.
- Plan for 2012 and document your Goals and Forecasts. Many business owners assume that this requires hours and hours of thought, reflection, research, etc, but I disagree. Yes it takes some time and effort, but it does not require multiple weekends spent in seclusion in the effort to create a 50 page professional document. You know what typically happens with those? More often than not, they are rarely looked at again. I suggest that you review your P & L statement looking for areas where you can eliminate cost and create margin. Then determine how much you want to increase sales, which new accounts you will target, and which relationships you may need to cultivate to make it all happen. I would suggest condensing this information into a 1-2 page document that can be reviewed easily, and often.
- Address your Corporate Formalities and document things well. When you look at your Task List and identify the top priorities, it is easy to drop this to the bottom or leave it off of the list completely. This is a huge mistake and could prove costly, if not fatal, to your business. Observing Corporate Formalities and properly documenting your business activities is paramount to preserving the integrity of your Corporate Veil and keeping yourself protected personally. If you aren't sure what Corporate Formalities are, please refer to some of my previous blog posts or contact the Safe Shield office.
That's it, that's all there is to it. Sounds pretty straight-forward doesn't it? I would like to close out this post by wishing all of you the very best during this Holiday Season and much success in 2012.