What Is This Week?

Everyone seems to agree. The time between Christmas and New Year’s exists in no man’s land, and we just aren’t sure what to do with it. There is no name for this. To help end this confusion, I have searched the World Wide Web for information on your behalf.

Let me begin by suggesting that no, you don’t want to start drinking at 10 am. As small business owners we have other things to do. Important things. Things like managing cash flow and making sure the door stays open.

More seriously, use this time to position yourself for a more prosperous 2022. Adulting year-end behaviors include actions like reviewing your business plan, mapping out marketing strategies for the next year and reviewing product inventory. This may be a good time to pivot into new markets with a new product line. Be sure your accounting is up to date to close out the year with a fresh start.

With Christmas shopping over, take time to review your basics:

·        Determine new clients and how to service them.

·        Assessment of referral sources. Maximize your best options.

·        Decide how to enhance your skill sets.

·        Look for glaring signs of inefficiency and fix problem areas.

·        Close out 2021 and set up accounting formats for 2022.

You may want a more in-depth approach for assessing your position. Look for a comprehensive checklist to make sure you aren’t leaving any loose ends. Guidant offers a very systematic approach for drafting year end balance sheets. Whether you shoot from the hip or plan in detail, all experts agree: Use this lull wisely. Schools are on break and many employees enjoy an extended holiday, but as a business owner, you need to balance relaxation with important planning sessions. Just be sure your week is more than googling recipes for leftover ham, lol.