Your 2018 Business Wish List: Getting Ready for the New Year
November 28, 2017
By: Kelly Spors
End of year is a reflective time for many people — but it’s also an excellent chance to get a jumpstart on the coming year. By planning ahead, you’ll be ready to seize new opportunities in the New Year and won’t be bogged down with logistics.
Before 2018 arrives, start thinking about your business priorities for the year and what tools you need to achieve your goals. Here are some tips:
Replenish everyday supplies. Certain regularly used office supplies, whether paper, printer cartridges or folders, can be essential to the running of your business. Rather than wait until Q1 arrives to determine what you need, consider taking inventory now: Review your supplies and restock if you're running low, so you’re not worrying about restocking in 2018.
Update outdated equipment. You may qualify for a 2017 business tax deduction for buying new equipment and furniture for your business before year-end — whether that’s new computers, a new copy machine or new desks. That makes the end of the year the perfect time to consider what equipment or technologies your business needs to operate efficiently and replace any that are outdated.
Set business goals. Use any year-end downtime to think strategically and really plan out how to improve your business. Take a step back: What were your goals for 2017? Did you achieve those goals? (Why or why not?) What are your current biggest challenges? What have you been doing right, and what needs improvement? Once you think through these “big picture” questions, turn them into actual plans: How can you strengthen your business in 2018? What concrete steps must you take?
You might decide, for example, that you need to take better advantage of LinkedIn to market your business. Research how to do that effectively and what steps will help you get there, whether that’s setting up a LinkedIn Premium subscription or using customer relationship management software to keep track of social media interactions with prospective clients. Think through your goals and what software, tools and resources will help you achieve them. Then decide to invest in those things now.
Use the year-end to think strategically and get a head-start on 2018. That way you’ll be ready to roll post January first.
About the Author
Kelly Spors is a freelance writer and editor based in Minneapolis. She previously worked as a staff reporter for The Wall Street Journal, covering small business and entrepreneurship.
All content provided herein is for educational purposes only. It is provided “as is” and neither the author nor Office Depot, Inc. warrant the accuracy of the information provided, nor do they assume any responsibility for errors, omissions or contrary interpretation of the subject matter herein.
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