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Underestimated Key Tasks About Year Closure!

Closing the year is a special period for every business! Whether it’s the upcoming holidays, accounting duties, or the annual balance sheet, all contribute to a unique set of circumstances.

That’s why we’re here to remind you of some fundamental things that will help you focus on the essentials for both your business and yourself (after all, a ship without a captain doesn’t sail)! Grab a classic pencil, your mobile, laptop, and the like, and let’s go!

1. Review & Evaluation of Achievements
What goals did you set for 2023?
Did you achieve them? If yes, to what extent?
If not, what hindered you?
Where did you choose to invest your resources? (Time, money, etc.)

2. Feedback from Customers & Employees
Are customers satisfied with your products or services?
Satisfaction depends on various factors; better to directly or anonymously ask for feedback through a survey.

3. Assessment of Mental Health
Reflect on your mental health within the context of the business.
Regardless of how important you consider it, mental health significantly affects efficiency, productivity, critical and creative thinking—essential skills for a business owner!
Consider what causes stress in your business and how you manage pressures.
Do you have enough time to rest and spend time with loved ones?

Next, plan your time and tasks to accommodate the above. For example:
Set health goals.
Ensure breaks from work at regular intervals.
Establish clear working hours (we know it’s one of the toughest, but it can be done!)

4. Priority Review
As Brian Tracy suggests, we can never do everything (nor should we). In addition, resources in a business are limited (financial resources, human resources, time, etc.).

It’s not the most pleasant truth, indeed!

What do we do about it? Based on the evaluation of the previous year and feedback, focus your resources on the essentials for the long-term sustainability of your business. For example, no need to focus all your attention on retaining customers who don’t bring significant profit while simultaneously ruining the experience for other customers.
In all of the above, it’s important to be honest and realistic. Creating goals and a schedule that you can’t stick to won’t benefit you.

And now you may ask, why go through this process, and it seems strange. Yes, it is, but besides being entrepreneurs, you’re still people with wants and needs!

That’s why it’s essential to adopt tools and techniques that take care of both the long-term sustainability of your business (not just getting through the day) and your personal improvement and health.

Have you got your pencil and paper already?
We wish that 2024 will be the year you evolve personally and professionally, creating the life you want!

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