Year end evaluation for any type of business owner is important. It’s a time to tie up loose ends before the holidays. It’s recommended to review your business two times a year or if your business comes to a stand still.
It’s better to start with bad news first and save the good news for last so you can build on the positive and gain momentum. Re-evaluating your business is more than just what marketing plan isn’t working for you, but it’s also a time to put yourself up for review.
What isn’t working in your business? How did your sales and marketing strategies turn out? Are you gaining new customers or clients through social media sites? What did you not do enough of and etc.
You don’t have to completely abandon social networking sites if they aren’t really working for you, but have a look at what you’re doing and then take the steps to change the way you network. Take everything you have done and think about how you can improve it or in some cases, what you want to eliminate so you can focus on tasks that are working for your business.
Write down the positives like your accomplishments and the goals you reached this year. What made you the most proud? Use this as your momentum to push you forward in the New Year. Build strength from these positives and find ways to be even better.
Review your finances and see if you were following your budget or not. What was your profit? Also take this time to see how you can minimize your taxes when the time comes.
The only way to get your business moving in the right direction is from the controller, which is you. It’s really fabulous to create and build success. But at what price or at whose expense did that success come from? In order to work hard and reach the heights of what you want to accomplish successfully sacrifices were surely made.
Whether it was your family or you worked yourself to the bone, take a step back and really give it some thought. The thing is don’t take away what’s really important to you. The money is great, but it isn’t everything. Yes we all need it to survive, but your mental and physical well-being and your family is far more important.
If you have been underselling yourself in your business, it’s time to make changes and start appreciating and respecting your worth.
A year end re-evaluation is a must do for all business owners, freelancers etc. as a reminder to reset goals, refocus and make necessary adjustments so you can continue to build, grow and nurture your business in a positive way.
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