With the holidays and a new year quickly approaching, it is imperative to take a look at several aspects your online business. Developing a Year End Checklist will ensure your business is starting off the new year on the right foot.
Last Minute Tax Deductions: Take time to run off your profit-loss statement and give your accountant a call. It may be a great time to get some of those necessary or desired business investments in before the tax year ends. You may also find it is better to wait and put them on next year’s business return. You pay that accountant good money for a reason. Take advantage of a quick phone call to see where your business stands tax-wise before it is too late.
Holiday Vacations: If you are planning some downtime during the holiday season, who is going to take care of the day-to-day business duties? Ensure everything will run smoothly in your absence or lessened availability. If you are an online service provider, inform your clients of your availability during the holidays. Let them know if you will be offline, checking in periodically or whether they will see no interruption of service. They may be counting on you to run their business while they are out. Start the conversation of expectations well in advance. Hire a subcontractor if necessary.
Get Up-to-Date: If you have a website or blog for your online business plan some time to get things up to par for the new year. Update your copyright dates. Make sure your contact information is correct. Ensure all of your links are still operational. Make any needed updates to your product or service lists.
Revisit Your Business Plan: Remember that business plan you spent so much time writing when you started your online business? Now is a great time to dust it off and see where you are at. You may be right on track. You may have changed business directions entirely. Regardless, reassess those original goals. And make some new ones. A new year is not just for personal resolutions, it is a great time for business resolutions as well.