#003: Reviewing Your Business In The New Year

Profit Points

It’s 2022 and the new year is a great time to check in and review your business. At Modern CPA, our goal with the Profit Points podcast is to help business owners grow and improve. Today, we’ve put together a list of tips and ideas for working on your business to set your year up for success.
Goals
Goal setting is important, but remember to set measurable and trackable goals not 100% rooted in financial projections.
Budget
Review how and where money is getting spent on the business and align budget and goals to work together.
Contracts and Agreements
Take a look at documents regarding agreements with other businesses, contractors, or providers. Do they still make sense? Do they need updating or to be replaced?
Employee Evaluations and Feedback
Review your employees' performance at the same time every year. Take the time to listen to their suggestions. Use this time to decide if changes or additions need to be made to staff.
Customer Feedback
Designate time to review, listen to, and follow through with customer feedback. Customers and clients can add valuable information for improving your business.
The start of a new year holds space for the potential within your business, however, keep tracking and measuring all of the goals, budget, and other elements as the year progresses. In order to grow and excel, it is critical to spend time not just being in the business but working on the business. Stay tuned for more tips, tricks, and how-tos for business owners!
What’s Inside:

• How to review and improve your business in 2022.
• What kind of goals and benchmarks should you set for the year?
• How to track and measure goals.
• Ideas and tips for setting your yearly budget.
• Is it important to review contracts and agreements every year?
• When and why should you evaluate and hear from employees?
• Why you should listen to customer feedback.

Mentioned In This Episode:

Modern CPA