End-of-Year Tuesday Tips #1: Do an End-of-Year Assessment

As the end of this year draws closer, you’ve hopefully brought in a fair amount of profit. With some smart planning, you can use that money to set your business up for success both in the coming year and beyond.

In the blogs for this month, we’ll take a look at how you can invest in products and services that will help cut costs and increase your productivity in the future. The first step in that process is to assess your current expenses and practices.

Schedule Maintenance for Your Current Devices

If your office isn’t in order now, it’ll be harder to prepare for the future. Have your printers and other equipment serviced to ensure that they’re working at their peak capacity. You should also check your supplies and restock if you’re running low.

Review Your Costs

Go over your current budget. Try to spot areas that take up the most money and resources. This information will make the next step much easier.

Identify Areas for Improvement

• Did any issues arise or recur in the past year?
• Did your employees have any complaints?
• Did certain pieces of equipment break down or cost more to operate?
• Did certain processes take more time than others?

You should ask questions like these about your business as the New Year approaches. If you answer “Yes” to any of them, these could be areas to work on going forward.