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3 Festive Business Planning Tips for the New Year

The countdown to Christmas is officially on!

With less than 10 days until the big day and even fewer working days, the race is on to get everything done before finishing up.

There may not be much room on your to-do list, but that doesn’t mean you shouldn’t forgo planning ahead for 2021. After the ups and downs of 2020, starting the New Year on the front foot will place businesses in the best possible position.

So here are our top 3 things to shoehorn onto your agenda, or at the very least, to mull over during the festive break.

The gift of tech

Many businesses will have had to rely far more heavily on tech this year than they ever have before. Whether having to switch to selling online due to the pandemic, or utilising tools such as teams or Zoom to hold meetings with clients or communicate with staff, the value of good IT and tech has been pushed to the fore. Those businesses that were well placed prior to the pandemic would have endured less of a struggle than those which were not sufficiently tech enabled. Some businesses may have had to rush in work-arounds that are not ideally suited for a long-term solution. To avoid being on the backfoot again, be sure to invest both time and money in the right technology. Some of the strides businesses have made into the world of tech will be here to stay so it’s important to have a solution in place that has the longevity and functionality required.

Who’s on the nice list?

We often talk about the importance of having the right team ‘on the bus’ and if ever there was a year that you needed to have the right people working for you in the right roles, this was it! With the normal working day being thrown out the window for the majority of people during lockdown, business owners will have had to place their trust in their teams to get on with their workload, even if conducted at different times or alongside home-schooling or other responsibilities.

Business owners should take the time to reflect on the team members who really rose to the challenge. Whilst not everyone is suited to home-working, and this should be remembered, the employees who were supportive and showed commitment in the circumstances may well have proven themselves to be keepers whilst for others, their time might have run its course.

Channel your inner Bob Crachitt

As many businesses may have learned the hard way this year, cash flow can be vital for a business to be able to continue to function and lack of it really can be stressful. Whilst not all business owners necessarily have a gift with numbers, allowing the grip to be lost on cash flow really should be avoided at all costs. There are lots of tools and accounting software that can assist in cash flow management, also allowing you to easily access accurate financial information so you can plan effectively and manage your money efficiently.

If any of these tips have got you thinking about how you can better manage your business next year, and you are looking for a helping hand to look at any of the above factors, please do get in touch.

We wish you all the best for a peaceful festive season and a positive start to the year ahead.

 

 

 

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