3 Keys to Starting 2016 off Right

The holiday season is full of excitement and chaos, and you may find yourself wanting to forego a bit of planning now in order to focus on the fun this time of year brings. But, the holidays are no reason to let your business goals fall by the wayside. By following a few simple steps, you can avoid the post-holiday blues and start 2016 ready for success. Here are three keys to starting the New Year off right:

Derrick Bailey200
Derrick Bailey

1. Plan now for a rainy day: We can’t tell you enough about the importance of a steady cash flow, but what you may not consider is taking the time now during your busy season to plan for any slower months to come. Applying for a line of credit or business loan before you’re in trouble will save you from scrambling to pay for things in the future when cash isn’t flowing. Telhio Credit Union offers an array of both lines of credit and business loans that will give your business peace of mind when cash is tight.

2. Learn to delegate: As a small business owner, learning how and what to delegate is critical to your success. Do you find yourself struggling to complete payroll or come up with creative social media campaigns each month? Consider passing these tasks along to an employee or hiring an outside professional. Focusing on what you do best, running your business, will not only save you time and stress each month, but will ultimately better your business as a whole.

3. Complete a yearly review: As 2015 wraps up, now is the time to complete your yearly review. I’m sure you set goals at the beginning of 2015 – did you achieve them? If not, is your business still striving for those same goals, or have they changed? Take the time to consider what your business did successfully this year and plan your goals for 2016 around those accomplishments. Also, identify your problem areas and strive to find ways you can do better in the New Year.

Telhio Credit Union has a variety of business products and services, such as checking accounts, lines of credit and business loans that can help your business succeed through any storm. To contact a member of Telhio’s business services team, call 614-221-3233.

Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Marion, Pickaway and Union 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.

SHARE
Previous articleScaleUp Success: Melanie Guzzo of Virtue Salon
Next articleUnder Aurora Opening Franklinton Storefront
Derrick Bailey has a master’s degree in Business Administration from Capital University and a bachelor’s degree in Business Administration from the University of Toledo. He lives in Columbus and is a member of the National Black MBA Association and the University of Toledo Alumni Association. Derrick has nearly a decade of financial industry experience, and as Vice President of Business Services and Commercial Lending works with Telhio's business services members to help ensure outstanding service in areas that include lending, deposit accounts and merchant services. He is also a member of Telhio's Speakers' Bureau, which offers free speakers and workshops on a variety of financial topics.