With the chaos of holiday activities and social gatherings, the end of the year can fly by in a blur. While it may be tempting to forego some of those year-end financial tasks you have waiting on your to-do list, you’ll thank yourself next year if you simply set aside the time to get them done now! Complete these three tasks before the New Year and you’ll be kicking off 2017 with your best financial foot forward.
1. Complete a yearly review: Before you start planning for 2017, it’s important to evaluate where your business is today. Think about the goals you set at the beginning of the year, and whether or not you were able to achieve them. What did you do successfully and what could you do differently? Make a plan for 2017 with these thoughts in mind. If you achieved your goals easily, consider setting more challenging goals next year. If you had some difficulty completing them, rethink these goals and brainstorm new ways to reach them.
2. Evaluate your problem areas: Before the New Year begins, it’s important to zero in on any money zappers in your business environment. Do you consistently have an issue completing certain tasks on time? Consider hiring additional staff or an outside professional. Are payroll and other financial services taking up too much administrative time? Subcontracting these services out may be a good investment in 2017.
3. Thank your best customers: With the holiday season upon us, now is the perfect time to connect with your loyal customers. Thank them for their business this year and ask for their feedback. They’ll appreciate that you’re interested in what they have to say, and by incorporating their feedback into your 2017 plan you’ll be able to serve them better in the next year.
Telhio Credit Union is here to help your small business succeed. Contact our business representatives today at 614-225-7800 or visit telhio.org/business_team to learn more about our business services.
Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Madison, Pickaway, Union, Hamilton, Warren, Butler and Preble counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Driven by its philosophy that members come first, Telhio is committed to the highest standards of responsibility and conduct. Telhio offers – branching offices throughout central Ohio and nearly 4,000 shared branching locations nationwide. Additionally, Telhio credit union participates in the highest level of combined federal and private share savings insurance available, insuring deposit accounts up to $500,000.*
* Federally insured by NCUA. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company.
