Business Focus over the Christmas Period

Business Focus over the Christmas Period

In the midst of the hustle and bustle around the holidays, it’s easy to forget to take care of our own affairs – especially if you’d rather not brave the shopping malls!

Before settling in with family and friends to celebrate Christmas, though, be sure that you’ve cleared your desk of any unfinished tasks or outstanding bills.

Taking this extra step can provide greater peace of mind at a time when many are focused on love and celebration.

When you do get a chance to relax and maybe reflect on the last 12 months, use the time wisely.

Here are some tips on what to focus on in between the family festivities:

  1. If you’re someone who holds stock for sale, don’t forget to review what’s in your inventory and consider slashing price tags on old items or writing off those that don’t serve a purpose any longer.
  2. Spend a few minutes appreciating the incredible wins of 2022 and what made those possible. Take just as much time acknowledging and learning from those areas where your business fell short, so you can focus on improving them in the future
  3. Don’t go spending all your Christmas earnings at once, especially if January is traditionally a slow month for you and the business.
  4. Take advantage of this slow period by reviewing current practices, operations, systems, and people. Are they doing what you want them to be doing? Can they be improved? What is it going to take to make those improvements, and how quickly can that be done?
  5. If your goals for 2023 are ambitious, and there’s nothing wrong with that, how are you going to fund those goals? Start putting plans and options in place so that funding doesn’t become the catalyst for not hitting targets in 2023.
  6. Look at your own role in the business. Does that need to change? What should your focus now be on – should you spend more time working on the business as opposed to in it?
  7. It’s also maybe a time to cultivate fresh ideas.
  8. What about your client base – does that need a bit of a shake-up? Are there clients that have lost interest in your services or products? Which ones are you happy to let go, and which ones are you keen to keep?

So over the Christmas and new year period, spend some time making a list, and setting goals, not quite a bucket list, but things you want to achieve, want to change or want to improve on in 2023 that you can refer to all the time.

Enjoy your break and come back energised, determined and focused on making 2023 better than 2022, maybe a lot better.

Are you struggling to make your business work?

Insight CA Limited is a team of experienced Auckland-based chartered accountants and business advisors who can help. We’ll give you the power to see what’s really happening in your business, so you can take control and start making progress. Click here to learn more about how we can help you achieve your goals.

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