Taking care of a business is a vast responsibility, and with the new year comes a whole new set of problems for many business owners. The end of the fiscal year in March, employee relations, and satisfying clients eager to get their own fresh starts in 2021 are first on the list of worries, so it’s important to spend some time planning.
We recommend that this year you add getting involved with Ultimate Combat and the physical activity and networking opportunities we offer to your list of plans. How can we help? First off, our training sessions for martial arts, boxing, muay thai, and Brazilian jiu jitsu help increase self-esteem and reduce stress, which will help small business owners tackle 2021 with more energy and confidence. Our training sessions are also great opportunities for networking. Whether you’re looking for new employees or new clients, you’ll meet a ton of great people at Ultimate Combat. Learn more about our programsand schedule your first session today!
One you’ve got your physical fitness and self-care in check you can get down to those not-quite-as-fun aspects of running a business. Here’s what we recommend:
The first thing to do is to get organized. Take some time to redo your filing system, plan out every important event on your calendar, look for workshops and networking opportunities that will help you improve your business’s position, clean off your desk, and make detailed lists of things you’ll need to take care of; this way, you’ll have a strong plan and the peace of mind in knowing you’re prepared.
Here are some of the best tips for getting your business ready for 2021.
Take a look at vendors
Most businesses have at least a couple of vendors who bring supplies, and now is the time to take a look at your relationship to make sure your company is getting the maximum benefit. Do they offer competitive prices? Do they go out of their way to ensure your company is taken care of? Ask yourself if you’re getting the most out of your time with them and, if the answer is no, start looking for someone new.
Update
Take a look at your computer systems and other equipment. There may not be money in the budget for replacing these items, but you can still upgrade software and make things a little easier for your employees. It’s also a good time to think about moving toward new technology, such as using the credit card chip rather than having a customer swipe their card. Ask a professional to help you update your business and remember, the quality of your equipment means something to your customers.
Take care of annual reporting
Every year, states require registered businesses to do annual reporting. Failure to stay on top of this yearly task could result in some severe penalties, such as losing your ability to do business in that state! If you need help staying on top of your annual reports, you can find help through services like ZenBusiness.com, which will notify you when these reports are due and actually help you through the reporting process.
Staff
It’s nice to think that your employees are happy just where they are, but it’s just not a reality. It’s highly likely that some of your employees are dissatisfied with their position and looking to take a step up the ladder in 2021. The beginning of the year is a good time to do performance reviews so that you and your employees can sit down one-on-one and talk about any concerns.
Managing a business doesn’t have to be full of stress in the new year. With a little planning and some preparation, you can make sure your company is ready to push through and make the next 12 months a complete success.
