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about your level of involvement in have options in mind to increase If you need to update your planning
EMEMBER YOUR NEW YEAR’S the day-to-day of your business, get your cash flow, or do you need to put based on industry changes, consider
resolutions for your business? feedback from your team, or work new financial strategies in place? focusing on one of the following:
Maybe you had a detailed plan in with a mentor or advisor. Do what As much of what will happen in the
place for your budget or your operations. you need to do to put a successful months ahead will hinge on your • Reducing costs
Maybe you were going to invest more effort process in place. financial picture, be sure that you • Increasing marketing
into your content creation or make your have a thorough understanding of it • Changing your product or service
office a model of efficiency. Review your previous goals from the beginning. in some way
• Expanding your market
geographically
If you’re like many business leaders, you Look back at the goals you set for Review your tax payments
may have hit a few home runs while letting yourself earlier in the year. How • Expanding into a new market niche
some of your new, good habits fall by the successful were you in putting Make sure you are caught up with • Expanding your product line or
service offerings
wayside. Ideas you implemented may not them into practice in a meaningful your quarterly tax payments. If your
have worked out the way you thought, and way? If you’ve struggled with your tax attorney filed an extension that It doesn’t take long to fall behind in
some goals might have simply been too goals, it can be helpful to figure out delayed your tax filing until October, the face of a big shift in your industry,
hard or too expensive to implement. if the problem lies with the goals you could have a large tax payment whether it’s an innovation, a new
themselves or their implementation. due. It’s critical to ensure that your competitor, a market slowdown, or a
Rather than waiting until the end of Do some digging to determine taxes are under control; if they’re not, response to an economic downturn.
the year and starting over with the next what went wrong so you can better make plans so that they’re properly Make sure that you are keeping an eye
iteration of changes, take time for a understand how to plan for the future. set up for next year. on how your business is responding to
midyear review to see where you are now the broader forces at work.
so that you can redirect as needed and Monitor your finances Look at your industry
position yourself for a strong second half Review your current content
of 2023. As a bonus, you’ll also ensure Do you have the money you need Are there changes in the industry
that your 2024 New Year’s resolutions are to meet your responsibilities for that could be affecting your business, At least every six months, someone
better informed and more meaningful. the next six months? If not, do you either now or in the next six months? in your organization should be
reviewing your content, both
Begin with a self-evaluation online and offline. Whether it’s
your website, social media, printed
Take some time to look inward first—make Rather than waiting until the end of the year and starting over marketing materials, video content,
sure that you are fully engaged with your or other items, it’s essential to make
business and ready to participate in with the next iteration of changes, take time for a midyear sure that contact information is
the process of implementing a midyear review to see where you are now so that you can redirect as accurate and that you’re presenting
check-in. This may mean that you need to your best face to potential clients
spend some uninterrupted, focused time needed and position yourself for a strong second half of 2023. and colleagues.
contemplating. Be honest with yourself
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