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2017 Goals: Resolutions to Improve the Success of Your Business this Year

January is a common time for people to look at their goals and plan action steps to move forward in the New Year. Have you chosen resolutions for yourself or your business? If you want to boost revenue and improve the annual outcomes for your company, then right now is a great time to set a few goals that will move you forward this year.

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Do you need some ideas to help with your business goals? Here are a few things you might consider:

Simplify Daily Tasks

How much time do you spend each day completing busy work and other mundane tasks? As a business owner or manager, you shouldn’t be dealing with simple things that could be passed onto contractors or employees.

Getting rid of these simple tasks can free up your time, giving you more opportunities to focus on bigger responsibilities that will help to boost business income. For example, hiring an outsourced accounting team can reduce your workload so that you don’t have to worry about daily financial tasks. Instead, you can focus on product development and relationship management.

Maintain Consistency

Even if you start the year with good intentions, these resolutions won’t be beneficial if you fall back into old patterns in a few months. Make a commitment to stick with your goals, and find someone to hold you accountable if needed.

One option is to put together a team that will maintain accountability for everyone involved. Another option is to ask a friend or another business owner to be your accountability partner. As you are working with other people, it is essential that you have a list of actionable items that you can report on each time you talk.

Look Toward the Future

Are you preparing for big growth in the future? Even if certain systems are working right now, you might experience the situation where upgrades are needed to prepare for growth. As an example, consider the current financial system that you are using. If you are still tracking transactions manually on a spreadsheet, then you should set a resolution to upgrade your accounting system this year. Even if the manual tracking is working right now, you will quickly run into problems when the growth occurs.

Implementing systems early will reduce the stress of making the transition during a future time when the company is bigger. So, don’t delay these changes! Talk to a financial professional to learn more about how you can meet your business goals this year.

Here at Easier Accounting, we want to help you put the systems in place that will prepare your business for future growth. Contact our team today to learn more: (888) 620-0770

4th Quarter: How to End the Year on a Good Note

2016 flew by, and many small business owners are scratching their heads wondering how the year slipped away so quickly. October marks the beginning of 4th quarter, which is a great time of year to assess your current financial progress and make goals for the rest of the year.

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Evaluating Progress this Year

As you look over the year, ask yourself this question: did I accomplish all of my goals for the year? Even if you didn’t meet specific business goals, it doesn’t mean that time is up! October is the perfect opportunity to dig in and boost your results a little more this year. Take action right now before the holiday season sets in.

Talk with your accountant to see details about the revenue that has been brought in, how much was spent on expenses, and whether the numbers are matching up the projections for the year. If the numbers don’t match what you had in mind, then you can look for ways to adjust workflow and strategy to set your business up for success in the future.

Preparing for Tax Season

The beginning of the year marks the beginning of tax season for small businesses and individuals. It can be hectic to gather all of the necessary information that your accountant will be asking for. Get a head start right now so that you can easily collect the information that will be needed.

During the first month of the year, you will need to provide details about payroll for employees and payments to contractors. Your accountant can prepare the tax forms that need to be provided to employees and contractors so that you can meet the January 31st deadline.

Use Technology for Financial Tracking

If you don’t already have the right bookkeeping and accounting system in place, then right now is a great time to implement a new system. Getting started before the end of the year will give you the opportunity to work through any potential kinks before the New Year starts.

Once you have the system in place, you can be happy to have a full calendar year tracked within the software. Planning ahead can make it an easy transition. Make sure that you work closely with your accountant if you are going to implement a new bookkeeping system.

Here at Easier Accounting we are working hard to help your small business succeed. If you are interested in learning more about how accounting services can be beneficial, then we invite you to contact our team right away: (888) 620-0770